The Advantage Of 80 D Tax Deduction In This Way

Typically tax payers pay attention to 80 C only, while 80 D is also good

The option is to get deduction from deduction in tax on payment of premium of health insurance mediclaim policy.

The deduction under deduction under Section 80 D of the premium is not available only to its Mediclaim policy, but also to the Mediclaim Policy taken for the children and the children. It is not necessary that if the health insurance policy is being taken for the parents If they depend on you, the rule for children is different, if the child is dependent on you after the age of 18 or is said to be unemployed, then the maximum for the son I can take the policy till the age of 25, whereas the maximum age for daughter is till her marriage.

How and how much deduction

* If no one is more than 60 years of age in the spouse, child then Rs 25000 annually

* If the age of any of the spouses and children and parents is not more than 60 years then the maximum is Rs 50000 per year.

* No more than 60 years of any of the spouses and children, but if the age of any of the parents is more than 60 years then the maximum is Rs. 75000 per year.

* If any of the spouse and child is more than 60 years of age, even more than 60 years of age, then the maximum of Rs. 100000 per year.

Remember that the maximum limit of premium for deduction is Rs 5000 inclusive health checkups like if the husband is the policy for wife and child, 20 thousand premiums and 5000 rupees are eligible for health checkup i.e. 25 thousand rupees. Will benefit.

It's important to keep in mind

* If you have paid the premium for more than one year policy then the benefit of deduction will be given in the number of years, for example, if you have taken a policy of 2 years with a premium of 30000 thousand rupees Both the years will get a deduction of 15-15 thousand rupees.

* If you give premium cash, then you will not get the benefit of 80 D. This means that you will have to pay the premium for tax rebate through internet banking check draft or credit / debit card. You can also pay tax by paying cash for Preventive Health Checkup Can take advantage of.

* Tax relief under 80 D for both types of health insurance plans i.e. Individual Health Insurance Plan and Family Floor Plan and Defined Benefit (Daily Hospital Cash Plan / Critical Illness Plan), whether it is any health insurance company Or the policy has been taken from a general insurance company on a riders taken with a life insurance or term insurance policy but also the 80 D Tax exemption under tax but remember, 80 D is not used to pay premium for Accidental Benefit Rider

* According to taxation, the health insurance can be exempted separately in tax under 80 D on the payment of premium for term insurance, life insurance plan / endowment policy, ulip plan etc., never combined with term insurance or endowment policy.