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        Case ID :
        Income Tax

        An individual assessee pays (through any mode other than cash) during the previous year medical insurance premium, out of his taxable income, as under: a. 12,000/- to keep in force an insurance policy on his health and on the health of his wife and dependent children; b. 17,000/- to keep in force an insurance policy on the health of his parents.

        13 August, 2015

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        Chapter No. 10 - Deduction u/s 80D

        Under the new provisions he will be allowed a deduction of 27,000/- (12,000/- + 15,000/-) 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 29,000/- (12,000/- + 17,000/).

        Medical insurance deduction under 80D varies by parental senior citizen status, affecting combined family and parental premium allowances. Deduction under 80D allows an individual who pays medical insurance premiums other than in cash to claim a deduction for premiums for the assessee, spouse and dependent children as one component and for parental premiums as a separate component; the total allowable deduction depends on whether any parent is a senior citizen, with a higher combined deduction if a parent is a senior citizen.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Medical insurance deduction under 80D varies by parental senior citizen status, affecting combined family and parental premium allowances.

                              Deduction under 80D allows an individual who pays medical insurance premiums other than in cash to claim a deduction for premiums for the assessee, spouse and dependent children as one component and for parental premiums as a separate component; the total allowable deduction depends on whether any parent is a senior citizen, with a higher combined deduction if a parent is a senior citizen.


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