Deduction under section 80D - Professionals - Taxation - TIK Share
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Deduction under section 80D


Ankit Sharma

2015-07-09

Sir, My uncle's age is 44 year. He has paid insurance premium of Rs 12,500/- during PY 2014-15 to insure his health as well as health of his spouse. He also paid medical insurance premium of Rs 16,500/- during the year to insure the health of his father, aged 65 years. He contributed Rs 2,500/- to Central Government Health scheme during the year. He has incurred Rs 3,000/- in cash on preventive health check-up of himself and his spouse and Rs 4,000/- by cheque on preventive health check-up of his father.

How much deduction can he claim under Income tax act? 

Stock Guru

2015-07-09

Under section 80D you get deduction for premium paid on mediclaim insurance. The deduction is 20000 for senior parents and 15000 for self or spouse.

In you case you can deduct the entire premium paid for you and spouse and entire paid for parents.

Correct me If I am wrong.

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Ankit Sharma

2015-07-10

@Stock Guru you are wrong, because you have not told anything about preventive health check-up.

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Ankit Sharma

2015-07-10

@Anil Kumar 

a. Premium and preventive health check-up for you and your spouse - As per section 80D you can claim deduction upto Rs 15,000/- (in case you are senior citizen you can claim deduction upto Rs 20,000/-), in respect of premium paid on mediclaim or health insurance. Premium can be paid in any mode other than cash.

Under section 80D deduction can also be claimed for making payment for preventive health check-up upto Rs 5,000/-. But, the aggregate deduction including preventive health check-up should not exceed Rs 15,000/- or 20,000/- Preventive health check-up can be paid in any mode including cash.

So, you can claim deduction of Rs 12,500+2,500+0=15,000/-

Deduction of Rs 3,000 on preventive health check-up cannot be claimed as deduction is restricted to Rs 15,000/-, as you are not senior citizen.

b. Premium and health check-up for parents - Under section 80D deduction can also be claimed in respect of premium paid for health insurance of parents. Deduction can be claimed upto Rs 15,000/- or Rs 20,000/- if parents are senior citizen.

Deduction can also be claimed for preventive health check-up upto Rs 5,000/-, but aggregate deduction will be restricted to Rs 15,000/- or 20,000/-

so, in this case you can claim deduction of Rs 16,500+3,500=20,000

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