9911796707
| TMI Short Notes |
|
Home |
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. |
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/).
Dated: 13-8-2015
|
