Deduction Under Section 80D for Mediclaim Premium to Individual, HUF, Senior Citizens
Deduction Under Section 80D in respect of Medical Insurance Premium (Mediclaim) paid to keep in force insurance by individual either on his own health or on the health of spouse, parents and dependent children or HUF on the health of any members of the family. A Mediclaim policy is a must because should you fall sick or meet with an accident, your medical bills could wipe out your savings.
Features of Mediclaim policy
1. Premium based on Age: – As in term insurance, the premium rates will vary among the insurers and will also depend on your age. The older you are, the heftier the premium. For instance, Mediclaim policy from General Insurance Corporation has a fixed premium till 35 years and then it changes in 10-year slabs.
2. Who is it deduction Under Section 80D available to?
- Individual (resident or non resident, Indian Citizen or foreign citizen):- In case an individual is taking the deduction, the medical insurance policy can be taken in the name of any of the following: the taxpayer or the spouse, parents or dependent children* of the taxpayer.
- HUF (Hindu undivided Family may be resident or non resident) :- In case a HUF is taking the deduction, the medical insurance policy can be taken in the name of any member of the family.
Note
- Dependent Children (i.e. legitimate or legally adopted children). Children above 18 years, if employed, can not be covered. Male children, if not employed, but a bonafide student can be covered upto age of 25 years. Female children, if not employed, can be covered until the time she is married.
- parents of Individual – parents need not be dependent on the Assessee.
3. Entry Age: This insurance is available to a person between the age of 18 to 59 years. However, the Policy can be renewed upto the age of 80 years.
a) Children above the age of 3 months can be covered provided parents are covered concurrently and suitable premium is paid. If the child above 18 years is employed or if the girl child is married, he or she shall cease to be covered under the policy. However male child can be covered upto the age of 25 years if he is a bonafide regular student and fully dependent on primary insured. Female child can be covered upto the time, she is unmarried.
b) If the insured has taken continuous Mediclaim insurance policy with us for at least 5 years prior to attaining the age of 80 years the policy can be renewed beyond the age of 80 upto the age of 90 years as a special case with the approval of Regional Incharge on case to case basis. The premium chargeable shall be 10% of the premium for 75-80 years age slabs for proposers above 85 and 20% of the premium for 75-80 age slabs for proposers above 90.
c) No inclusion of family member during currency of policy is permissible except for a new born child between the ages of 3 months to 6 months and newly married spouse within 60 days of marriage. Otherwise inclusion of family member shall be allowed only at the time of renewal. Prorata premium shall be charged for such inclusion during the currency of the policy for the unexpired period.
4. Sum Insured: Minimum sum insured shall be Rs 50,000/- and can be increased in multiples of Rs 25,000/-upto Rs 5 lacs. The sum insured must be identical for primary insured and the dependents. However, the children may be covered for 50% Sum Insured as per 4 above.
5. Payment of Mediclaim Premium under section 80D out of taxable Income:- The amount must have been paid using the taxpayer’s income chargeable to tax.
6. In addition to deduction u/s, 80C, 80CC and 80CCD,:- This is an additional deduction available which do not include deduction u/s 80C, 80CCC and 80CCD for which overall limit is is Rs. 1,50,000 (Rs. 1 Lakh upto A.Y. 2014-15).
7. Partly contribution: If part payment is done by you and part payment by the parent, both can claim deduction Under Section 80D to the extent of their contribution subject to maximum allowed but amount should be paid directly to insurance company and paid through mode other than by cash.
8. Mode of payment: The premium may be paid by any mode of payment other than cash. Note prior to 1st April 2009, premium payment was required to be done only by cheque. Credit card or other online payment mechanism where not allowed. Now all payment modes except cash payment are accepted.
9. Which Mediclaim Premium is allowed? : – Mediclaim premium paid under Medical insurance scheme of General Insurance Corporation approved by the Central Government, or any other insurer approved by the Insurance Regulatory & Development Authority (IRDA).
10. Proposer of the policy is not must: The premium is to be paid to effect or keep in force insurance policy, there is no condition that assessee should be the proposer of the policy.
11. Part contribution: Assessee can partly contribute the premium amount but amount should be paid directly to insurance company and paid through mode other than by cash (see example)
12. What is the amount of the deduction Under Section 80D?
For Individual
- Basic deduction Under Section 80D: Mediclaim premium paid for Self, Spouse or dependant children. Maximum deduction Rs 25,000.
- In case any of the persons specified above is a senior citizen (i.e. 60 years or more) and Mediclaim Insurance premium is paid for such senior citizen, deduction amount is Rs. 30,000 (this amount has been increased to Rs 50000/- from A.Y 2019-20)
- For uninsured super senior citizens (more than 80 years old) & senior citizen( i.e. 60 years or more) medical expenditure incurred up to Rs 30,000 shall be allowed as a deduction under section 80D (This amount has been increased to Rs 50000 from A.Y 2019-20)
- Additional deduction Under Section 80D: Mediclaim premium paid for parents. Maximum deduction Rs 25,000. In case any of the parents covered by the Mediclaim policy is a senior citizen, deduction amount is enhanced to Rs. 30,000.( it has been increased to Rs 50,000 from A.y 2019-20)
For HUF
- Mediclaim premium paid for any member of the HUF. Maximum deduction Under Section 80D Rs 25,000. In case any member of the HUF covered by Mediclaim policy is a senior citizen, deduction Under Section 80D amount is enhanced to Rs. 30,000.( it has been increased to Rs 50,000 from A.y 2019-20)
EXAMPLE- 1
1. An individual assessee pays (through any mode other than cash) during the previous year medical insurance premia, out of his taxable income, as under:
(i) Rs 18,000/- to keep in force an insurance policy on his health and on the health of his wife and dependent children;
(ii) Rs 32,000/- to keep in force an insurance policy on the health of his parents.
He will be allowed a deduction of Rs 43,000/- (Rs. 18,000/- + Rs. 25,000/-) if neither of his parents is a senior citizen. However, if any of his parents is a senior citizen, he will be allowed a deduction of Rs 48,000/- (Rs.18,000/- + Rs.30,000/). However in case any of his parent is senior citizen the deduction W.e.f A.Y 2019-20 the will be Rs 68,000/- (Rs.18,000/- + Rs.50,000/) Whether the parents are dependent or not, is not a consideration for deciding the deduction under the new provisions.
Further, in the above example, if cost of insurance on the health of the parents is Rs 32,000/-, out of which Rs 17,000/- is paid (by any non-cash mode) by the son and Rs 15,000/- by the father ( who is a senior citizen), out of their respective taxable income, the son will get a deduction of Rs 17,000/- ( in addition to the deduction of Rs 18,000/- for the medical insurance on self and family) and the father will get a deduction of Rs 15,000/-.
EXAMPLE 2
An individual assessee pays through credit card during the previous year health insurance premium as under:
1. Rs. 18,000 to keep in force an insurance policy on his health and on the health of his wife and children 2. Rs. 32,000 to keep in force an insurance policy on the health of his parents.
Under the new provisions, he will be allowed a deduction of Rs. 43,000 (Rs. 18,000 + Rs. 25,000) if neither of his parents is a senior citizen. However, if any of his parents is a senior citizen, he will be allowed a deduction of Rs. 48,000 (Rs. 18,000 + Rs. 30,000). Whether the parents are dependent or not, is not a consideration for deciding the deduction under Section 80D.
However from A.Y 2019-20 the deduction shall be as under:
Under the new provisions, he will be allowed a deduction of Rs. 43,000 (Rs. 18,000 + Rs. 25,000) if neither of his parents is a senior citizen. However, if any of his parents is a senior citizen, he will be allowed a deduction of Rs. 68,000 (Rs. 18,000 + Rs. 50,000). Whether the parents are dependent or not, is not a consideration for deciding the deduction under Section 80D.
EXAMPLE- 3
Question:- Do I need to take medical insurance for both my parents, who are senior citizens. I would appreciate if you can let me know.
Answer:- Deduction in respect of medical insurance premium for A.Y. 2016-17 is Rs 25,000 for an individual and Rs 30,000 for a senior citizen. However if someone were to buy medical insurance for his parent/s, an additional deduction of Rs 25,000 (over and above Rs 25,000) will be available. If such parent/s were senior citizen, the additional deduction would be Rs 30,000. So a person insuring himself, his spouse, children and parents could potentially get a deduction of Rs 50,000.
However from A.Y 2019-20 the deduction shall be as under:
Deduction in respect of medical insurance premium for A.Y. 2019-20 is Rs 25,000 for an individual and Rs 50,000 for a senior citizen. However if someone were to buy medical insurance for his parent/s, an additional deduction of Rs 25,000 (over and above Rs 25,000) will be available. If such parent/s were senior citizen, the additional deduction would be Rs 50,000. So a person insuring himself, his spouse, children and parents could potentially get a deduction of Rs 50,000.
EXAMPLE-4
Illustration
Mr. Raja (age 40 years) has made the following payments during the financial year 2017-18:
- Payment of medical insurance premium on his policy of Rs. 15,000.
- Payment of medical insurance premium on policy of his spouse Rs. 4,000.
- Payment of medical insurance premium on policy of his younger daughter who is dependent on him Rs. 3,000.
- Payment of medical insurance premium on policy of his elder daughter who is self employed and not dependent on him Rs. 5,000.
- Payment of medical insurance premium on policy of his parents (resident and aged 68 years), Rs. 18,000 on policy of his father and Rs. 18,000 on policy of his mother. Both are dependent on brother of Mr. Raja.
- Payment of Rs. 3,000 towards expenditure on preventive health check-up (for his own check-up and check-up of his wife).
Advice Mr. Raja regarding the admissible deduction under section 80D for the year 2017-18.
ANSWER
Considering the above provisions, the deduction in case of Mr. Raja will be as follows:
1) Medical insurance premium on his policy of Rs. 15,000 will qualify for deduction.
2) Medical insurance premium on policy of his spouse of Rs. 4,000 will qualify for
3) Medical insurance premium on policy of Rs. 3,000 of his younger daughter who is dependent on him will qualify for deduction. However, premium of Rs. 5,000 on policy of elder daughter who is not dependent on him will not qualify for deduction.
4) Medical insurance premium on policy of his parents of Rs. 36,000 will qualify for deduction (being Senior Citizens)-limited to Rs. 30,000.
5) Expenditure on preventive health check-up will also qualify for deduction, but, it will be restricted to Rs. 3,000 only (as the overall limit of deduction under section 80D in respect of assessee and his family cannot exceed Rs. 25,000).
Thus, total deduction under section 80D will amount to Rs. 22,000 on account of expenditure on premium paid in respect of his own health, health of his spouse and dependent daughter and Rs. 30,000 in respect of premium paid on policy of his parents. Deduction on account of expenditure on preventive health check-up will be Rs. 3,000 Total deduction under section 80D will amount to Rs. 55,000 (Rs. 22,000 + Rs. 30,000 + Rs. 3,000).
EXAMPLE-5
| (i) For Individual and his family | Rs. |
| Health insurance premia | 21,000 |
| (ii) For parents | |
| Health insurance of Mother : | 18,000 |
| Medical expenditure 80D on father (Super senior citizen) ) | 15,000 |
| Deduction eligible u/s 80D | Rs. 21000 + Rs 18,000 + Rs. 15000 = Rs. 54,000 |
FAQ on Mediclaim-
1.Why is deduction u/s 80D allowed?
The deduction is allowed for
1. buying medical insurance , popularly known as Mediclaim policy.
2. Keeping in effect a medical insurance already bought.
2. How much deduction available?
If Mediclaim is bought for any person other than person having Aged 60 years or more , then Rs 25,000.
If Mediclaim is for person having 60 years or more , Rs 30,000 (this has been increased to 50,000 from A.Y 2019-20)
3. Who can claim deduction?
Individual and HUF making payments for medical insurance.
1. Individual can claim for self, wife, dependent children and parents.
2. HUF can claim for Mediclaim policy on members.
4. What should be mode of payment of insurance premium?
Any mode other than cash will make one eligible for deduction u/s 80D.
5. If office deducts salary for medical insurance for employee and his family , whether the employee can claim deduction u/s 80D?
Yes, for the fact that the mode of payment is any ,other than cash, and It is employee who paid for himself or his family’s insurance.
Get a certificate from the employer regarding deduction of amount for medical insurance purpose.You can claim to the extent the dedcution has been made by the employer for medical insurance subject to maximum RS 25,000
6. If an individual buys Mediclaim for himself and for his parents exceeding 60 years, how much can he claim as deduction?
Good question. Subsection 2 of section 80D provides as under
2) Where the assessee is an individual, the sum referred to in sub-section (1) shall be the aggregate of the following, namely:—
(a) the whole of the amount paid to effect or to keep in force an insurance on the health of the assessee or his family or any contribution made to the Central Government Health Scheme or such other scheme as may be notified by the Central Government in this behalf or any payment made on account of preventive health check-up of the assessee or his family as does not exceed in the aggregate [twenty-five] thousand rupees; and*
(b) the whole of the amount paid to effect or to keep in force an insurance on the health of the parent or parents of the assessee or any payment made on account of preventive health check-up of the parent or parents of the assessee as does not exceed in the aggregate [twenty-five] thousand rupees;
It is clear that an individual can claim deduction up to Rs 75,000 for medicalim insurance , if he makes insurance for his family and any parents exceeding 60 years.
7. Can somebody having invested the amount from income exempt from tax or by taking loan, claim deduction u/s 80D?
No as per opening line in the section 80D , the payment should be only out of income chargeable to tax. Read the opening line :
80D. (1) In computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted such sum, as specified in sub-section (2) or sub-section (3), payment of which is made by any mode, other than cash, in the previous year out of his income chargeable to tax.
8. Can you get deduction u/s 80D for Overseas Mediclaim policy?
Yes, in author opinion , there in nothing in the provision u/s 80D which prohibits claim of deduction u/s 80D for medical insurance for overseas journey. The only requirement, as given in section 80D(5) is that the insurance companies issuing such overseas insurance should be one of these
(5) The insurance referred to in this section shall be in accordance with a scheme made in this behalf by
(a) the General Insurance Corporation of India formed under section 9 of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972) and approved by the Central Government in this behalf; or
(b) any other insurer and approved by the Insurance Regulatory and Development Authority established under sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999).
Appendix: Section 80D of the Income Tax Act
80D. (1) In computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted such sum, as specified in sub-section (2) or sub-section (3), payment of which is made by any mode as specified in sub-section (2B), in the previous year out of his income chargeable to tax.
(2) Where the assessee is an individual, the sum referred to in sub-section (1) shall be the aggregate of the following, namely:—
(a) the whole of the amount paid to effect or to keep in force an insurance on the health of the assessee or his family or any contribution made to the Central Government Health Scheme or such other scheme as may be notified by the Central Government in this behalf or any payment made on account of preventive health check-up of the assessee or his family as does not exceed in the aggregate twenty-five thousand rupees; and*
(b) the whole of the amount paid to effect or to keep in force an insurance on the health of the parent or parents of the assessee or any payment made on account of preventive health check-up of the parent or parents of the assessee as does not exceed in the aggregate twenty-five thousand rupees;
(c) the whole of the amount paid on account of medical expenditure incurred on the health of the assessee or any member of his family as does not exceed in the aggregate [thirty] thousand rupees; and
(d) the whole of the amount paid on account of medical expenditure incurred on the health of any parent of the assessee, as does not exceed in the aggregate [thirty] thousand rupees:
Provided that the amount referred to in clause (c) or clause (d) is paid in respect of a [very] senior citizen and no amount has been paid to effect or to keep in force an insurance on the health of such person:
Provided further that the aggregate of the sum specified under clause (a) and clause (c) or the aggregate of the sum specified under clause (b) and clause (d) shall not exceed [thirty] thousand rupees.
Explanation.—For the purposes of clause (a), “family” means the spouse and dependant children of the assessee.
(2A) Where the amounts referred to in clauses (a) and (b) of sub-section (2) are paid on account of preventive health check-up, the deduction for such amounts shall be allowed to the extent it does not exceed in the aggregate five thousand rupees.
(2B) For the purposes of deduction under sub-section (1), the payment shall be made by—
(i) any mode, including cash, in respect of any sum paid on account of preventive health check-up;
(ii) any mode other than cash in all other cases not falling under clause (i).
(3) Where the assessee is a Hindu undivided family, the sum referred to in sub-section (1), shall be the aggregate of the following, namely:—
(a) whole of the amount paid to effect or to keep in force an insurance on the health of any member of that Hindu undivided family as does not exceed in the aggregate twenty-five thousand rupees; and
(b) the whole of the amount paid on account of medical expenditure incurred on the health of any member of the Hindu undivided family as does not exceed in the aggregate [thirty] thousand rupees:
Provided that the amount referred to in clause (b) is paid in respect of a [very] senior citizen and no amount has been paid to effect or to keep in force an insurance on the health of such person:
Provided further that the aggregate of the sum specified under clause (a) and clause (b) shall not exceed [thirty] thousand rupees.
(4) Where the sum specified in clause (a) or clause (b) of sub-section (2) or clause (a) of sub-section (3) is paid to effect or keep in force an insurance on the health of any person specified therein, and who is a senior citizen, [or a very senior citizen,] the provisions of this section shall have effect as if for the words “twenty-five thousand rupees”, the words [thirty] thousand rupees” had been substituted.
Explanation.— [***]
Following sub-section (4A) shall be inserted after sub-section (4) of section 80D by the Finance Act, 2018, w.e.f. 1-4-2019 :
(4A) Where the amount specified in clause (a) or clause (b) of sub-section (2) or clause (a) of sub-section (3) is paid in lump sum in the previous year to effect or to keep in force an insurance on the health of any person specified therein for more than a year, then, subject to the provisions of this section, there shall be allowed for each of the relevant previous year, a deduction equal to the appropriate fraction of the amount.
Explanation.—For the purposes of this sub-section,—
(i) “appropriate fraction” means the fraction, the numerator of which is one and the denominator of which is the total number of relevant previous years;
(ii) “relevant previous year” means the previous year beginning with the previous year in which such amount is paid and the subsequent previous year or years during which the insurance shall have effect or be in force.
(5) The insurance referred to in this section shall be in accordance with a scheme made in this behalf by—
(a) the General Insurance Corporation of India formed under section 9 of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972) and approved by the Central Government in this behalf; or
(b) any other insurer and approved by the Insurance Regulatory and Development Authority established under sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999).
Explanation.—For the purposes of this section,—
(i) “senior citizen” means an individual resident in India who is of the age of sixty years or more at any time during the relevant previous year;
[(ii) “very senior citizen” means an individual resident in India who is of the age of eighty years or more at any time during the relevant previous year.]
(Article was First Published on this Website on 06.09.2009 and Republished with Amendments in the Article)
I am 74+ male, non smoker, do not take alcohol, I have suffered mild heart attack in December 2008.
I have been denied Mediclaim policy, as I am a high risk patient.
1. Any Insurance Co. who will cover me?. Apart from Heart problem, there are hundred more diseases, or possibility of an accident. Therefore, I intend covering myself.
2. I understand, there is provision of reimbursement of Medical bills of expenses for Sr. citizens. Kindly guide me. Kindly reply also at vijayengrs44@gmail.com
Please let me know if i can claim a deduction from my income u/s 80D as Preventive Medical Test expenses for Laboratory tests
and doctor’s fees for ass. year 2018-19, and
up to what maximum amount.
Thank you.
Hi, I purchased a Religare Health Insurance in Mar 18 and paid premium for 03 years. The policy period is 08 Mar 18 to 07 Mar 2021. How should I claim tax rebate under 80D for 18/19 & 19/20. Unfortunately I was late in declaring the same to my accountant for 17/18.
I am holder of mediclaim policy. I pay mediclaim premium through cheque only. I have receipt from oriental insurance with stamp and indication of my cheque number. I have provided my bank statement also which clearly show that against that specific cheque number, amount is deducted from my account. But I am asked for providing special certificate which indicates that this premium is paid through cheque and entitled for tax deduction under section 80D.
As far as my understanding, it is sufficient if receipt indicates that it is paid through cheque for getting tax benefits. Please suggest.
I paid Rs 12000/- for mediclaim .How much I got benefit .
Rs 12000/- or 10% of premium paid by me
SIR..
PLEASE LET ME KNOW IF ANY INSURANCE TERM POLICY CAN ALSO BE CONSIDERED IN 80 D..
FOR WHICH WE NORMALLY TAKE MEDI-CLAIM POLICY..
I have a ULIP Plan applicable under 80C as well as 80D for which i invest annually an amount of Rs.100000/- . In addition to that i have investment under PF of Rs 50000/- and PPF for 25000/- under 80C.
As 150000 is the limit under 80C, Can i show 75000 from ULIP under 80C and 25000 under 80D for more tax savings?
If an individual pays medical premium for his parents who are not senior citizens , Is he eligible for deduction u/s 80d?
Dear Sir
Can claim Mediclaim with service tax?
regards
Sandip Choudhury
Me and my father is not covered in single policy. I am paying for both policy. Am i liable for 80D for my father policy.
Respected sir,
in case of where medical policy is on husband’s name and premium paid by husband so his wife can avail deduction under 80-D in her income tax ? or in case of where medical policy is on husband’s name and premium paid by his wife in this case his wife can avail deduction under 80-D in her income tax ?
as per income tax rule it is necessary to have policy on specific tax payer’s name.
in above case should any one(husband or wife) can get deduction plz specify me
Test
Sir i have a mediclaim policy for myself along with my father for last 8 years before my marrige, whose premium is 15000-16000 which i claim in my ITR under Sec80D.
Now i want a mediclaim policy for me, my wife along with my 2 childrens, can my wife claim the same policy in her ITR under Sec80D as she is also income tax assessee.
Also guide whether i take new policy in my name or my wife,s name.
sir i have not health premium insurance. can i claim a tax rebate Rs. 5000/- of medical check -up or expenses in medicine in cash receipt. for this tax rebate health premium is necessary or not.i did”t got any medical allowance from my employer. can i claim Rs. 5000/- tax rebate under section 80D.
I have paid critical illness premium for Rs 84250 for 25 lac and 20 years. It is one time premium. Can we both husband a and wife claim rebate 25000 individually.kindly reply
Dear Sir
I am paying Mediclaim premium for my parents
Father is Sr Citizen but mother is not,but they are not dependent on me.
Also i am having one separate mediclaim of me and my family for which i am claiming 80D
Can i claim separately for my parent’s policy paid by me(parents not dependent on me)
Kindly suggest.
Under which section I will get deduction for Medical Reimbursement and what is the Maximum Limit. I am getting Rs 28500/- towards hospitalization expenses. please advice me
if i am covered with CGHS but for a treatment and daily routine tests i have to shell an amount, can i claim the same in my return as i have no mediclaim policy and am a senior citizen
U/S 80 D THERE IS ONE MORE DEDUCTION FOR PREVENTIVE MEDICAL CHECK UP EXP
PLEASE GIVE AN ARTICLE ON THAT SHOWING HOW TO CLAIM& WHAT PROOFS ARE REQUIRED
Thanks
My wife has taken mediclaim policy(floater) on husband and her parents. if I pay the premium from my income and claim deduction u/s 80D, whether it will be allowable?
amount paid for medical benefit includes service tax.under sec. 80D which amount to be shown(with/withoutservice tax)E mail ID rkdubey1946@hotmail.com
Dear Sir,
My employer is deducting the whole premium deduction from my salary of Corporate OR Group Floater policy along with my senior citizen parents . But employer in case denying to exception U/S 80D. in above FAQ you are mentioning that I would be eligible then please let me know what cause may be company deny to provide exceptions certificate on the same.
Regards
Mukesh
If office deducts salary for medical insurance for employee and his family and “also for parents”, what is the limit an employee can claim deduction u/s 80D?
Can we claim 50% mediclaim premium which was for two year& paid in during this year?
We have introduced group medicalaim policy to our employees. Here emplyer is paying 60% premium amount and 40% is paid by employee itself. Can you just clarify is that 60% paid by emplyer are exumpted under Income tax Act.
Hi
I’ve paid the Medical Insurance premium for 2 years and availed the policy in the month of Nov, 2014.
Period of policy – Nov, 2014 to Nov, 2016,
Premium – 49K.
Last year, I have taken the benefit of 24.5K.
Will I be in a position to claim this year the balance?
Pls advice.
My daughter wishes to take a mediclaim policy of Father54 Mother49 DaughterSelf25
Sister23 Brother14 amounting to Rs48,000/- How much deduction will she get under Section 80D.
My daughter wishes to take a mediclaim policy of my(Father) Father-in-law79 Mother-in-law73amounting to Rs48,000/- Can she get deduction under Section 80 D. How much deduction will she get under Section 80D.
Hi
Incase both Husband and wife works and have one medical insurance policy for family(premium is 20000/- per year paid by Husband )
Can both Husband and wife claim 20000/- each for tax exemption ?? or only one either wife or husband can claim ??
thanks
Ashish
Mr. A senior citizen about 61 Years old. He has taken medi claim for Rs. 13500/- and another of his wife for Rs. 17000/-. can we claim upto 20000/- for the assessment year 2015-16 u/s 80D.
Please advise me
Hi
I am planning to take a medi-claim policy for my parents alone (Senior citizens) for Rs 20,000.00
Can i claim under 80D?
I have paid premium of rs.36000 in cash for mediclaim in New India Assurance which is a government company, will i get deduction?
Hi,
My employer arranger Group Medical Insurance from one of the renowned General Insurance Company. I took medical insurance for myself , spouse and parents. Premium of 12500/- got deducted from my salary. But Insurance company is denying 80D certificate. Am i eligible for 80 D deduction for this premium..?
I am Salaried Person In Private Organisation.
In the Income Tax returns Medical Expenses Showing Under Sec 80 D .
The amount paid for medical benefit includes Service Tax.
I want to show the amount for Income tax returns, which amount to be shown (with/without Service tax)
Which Section/Part will it be given.
Please clarify my doubt and give the information
If i have incurred some medical expenses. and i give the bills to the insurance company for reimbursement. the insurance company reimburses me the same ammount. is that amount recieved taxable????
My Son has a family floater mediclaim policy of Sum Assured 6 lacs,Annual Premium 37870 where My Wife 61 and Myself 58 are dependent.
I want to know how much deduction in INCOME TAX He will get as he is paying for himself and parents also.
If I employed will pay Half of it, will Me and my son both can Get Rebate of Rs 15000 under section 80D
Hi
I have paid premium for two years. Can I deduce it in two subsequent years? In other words, I have paid premium in advance in 2013 for the policy of 2014. Can I claim deduction in 2014?
i wanna do consolidated mediclaim for my Mother,Father and My self also
may i take exemption of whole amount of mediclaim in my ITR
Dear sir,
Relating to income tax I have one doubt . i.e
Ex: A – Salary 50000/- (10000/-Basic, HRA , Medical allow,spl all, CCA)
Employee A is submitting the medical bills sum of Rs.15000/- and mediclaim policy have Rs 10,500/-.
Please confirm me both are consider for deductions under income tax or not
Can Grand father get 80-D benefits if he apply mediclaim policy for his/her Grand son and proposer & pre payer by cheque)also him self(Proposer:Grand fater).
Respected Sir,
i paid mediclaim insurance premium 112.36(100+12.36 s.tax, 80d which amount is allowed for exemption
in income tax act word shown whole of the amount paid to effect or to keep in force an insurance on the health(it means service tax is allowed or not)
Hi,
I wanted to ask that mediclaim offered to employees by their employers can be used for tax saving?
Does company deducts this amount from employee’s salary?
in medical insurance if mother in law & father in law are also covered in definition of parents for claiming insurance from insurance co.
I am married daughter. can i claim medical policy of my own parents? or of my in laws parents
I have deposited the premium of Mediclaim of myself for three years i.e Rs 36000. Can I claim for the entire amount or Rs 15000 only. What about the other years. Pl suggest.
service tax paid on premium is allowed as deduction or not???
IS service tax paid on mediclaim policy is also allowablle as exemption u/s 80d. If yes please send a revert mail to us.
thanking you
regards
Alok Pandey
We calculated the premium for 1.individual health plan for myself for SA of Rs 5lacs and 2. premium for health plan for spouse and children of Rs.5 lacs .The total premium of plan 1. and plan 2. is less than floater plan of of 2+2 for SA of Rs 5lacs.
What you advise,to go for floater plan or individual for self and floater for wife and children.Also weather i will get tax 80d benefit on total amount of plan 1.and plan 2.
LUMSUM PREMIUM OF Rs 60000/-ON A MEDICLAM POLICY IS PAID IN THE YEAR OF BUYING POLICY. POLICY IS EFFCTIVE FOR FIVE YEARS, WILL THE BENEFIT OF Rs 15000/-UNDER SEC 80D SHALL BE APPLICABLE EVERY YEAR FOR FIVE YEARS OR SHALL BE RESTRICTED TO 15000/- IN THE FIEST YEAR
If the mediclaim amount is paid by the one of the parents for the cover of whole family through their account. Can son claim for exemption, as parents are dependant on him?
LUMSUM PREMIUM OF Rs 60000/-ON A MEDICLAM POLICY IS PAID IN THE YEAR OF BUYING POLICY. POLICY IS EFFCTIVE FOR FIVE YEARS, WILL THE BENEFIT OF Rs 15000/-UNDER SEC 80D SHALL BE APPLICABLE EVERY YEAR FOR FIVE YEARS OR SHALL BE RESTRICTED TO 15000/- IN THE FIEST YEAR