Health Insurance - Tax Rebate

[Mukesh Kumar]

Hi All,

My father has taken family Health insurance last year, could I pay the premium (through my salary Account cheque) this year so that I can save tax 80D?

1. Is my idea applicable to Income tax 80D?

2. What are the documents I need to submit?


Best regards,
Mukesh

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[Dilip]

Hi Mukesh

If you can establish that your father is dependent on you.You can claim deduction u/s 80D on payment of Mediclaim insurance premium through Account payee cheque.

[Mukesh Kumar]

Dear Dilip,

This is family insurance covered by my parents, brother and his family. Is it applicable ?

If its premium for Mediclaim or Family health insurance of only dependents ,it is eligible for 80D deduction.

[Dilip]

If your Father has paid by Cash, Then this year pay through Cross Cheque of yours Salary Account and you can claim the same benifits. For Claiming last Years Benifits this year please consult with CA.

Regarding the admissible Benifit since NO DEPENDENT BROTHER & SISTER are allowed in the act. You can claim your parents premium part.

[Mukesh Kumar]

I haven't claim for last year.

Your answer is that I can should exclude my brother details, Am I right?
What are the douments required when I go for 80D ?
How much I can show per year ?

[CA_Amit]

You just need the receipt received from the medical insurance company showing that you have paid this much amount of premium for this period of policy and no other documents are required.

Further as per the new ITRs you are not required to attach any paper with your return.

You can show upto Rs.15000/- or Rs.20,000/- (in case of Senior Citizens) premium paid.