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
Contents
Plus +
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
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 ... Summary
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.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
