{"id":534,"date":"2014-02-12T00:00:00","date_gmt":"2014-02-11T18:30:00","guid":{"rendered":""},"modified":"2016-07-29T16:48:52","modified_gmt":"2016-07-29T11:18:52","slug":"deduction-in-respect-of-health-insurance-premium-sec-80d-of-income-tax-act","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/students\/deduction-in-respect-of-health-insurance-premium-sec-80d-of-income-tax-act\/","title":{"rendered":"Deduction in respect of Health Insurance Premium \u2013 Sec 80D of Income Tax Act"},"content":{"rendered":"

Under Section 80D of the Income Tax Act, deduction in respect payment made towards Health Insurance Premium and Preventive health check-up is allowable as deduction from total income.<\/p>\n

Who can claim the deduction & for what?<\/strong>
\n\u2013 Individual or HUF can claim deduction under this section in respect of payment made by them towards:-<\/p>\n

1.\u00a0\u00a0\u00a0\u00a0 Health insurance premium by any mode, other than cash<\/em><\/strong>, in the previous year out of income chargeable to tax,<\/p>\n

2.\u00a0\u00a0\u00a0\u00a0 Payment made on account of preventive health check-up by any mode, including cash (effective from assessment year 2013-14).<\/p>\n

In case of Individual, the deduction is available for Health insurance premium or Preventive Health Check-up of the assessee himself, his\/her spouse, dependent child\/children and parents (parents need not be dependent).<\/p>\n

Amount of deduction under section 80D \u2013<\/strong><\/p>\n

1.\u00a0\u00a0\u00a0\u00a0 If the assessee is an Individual<\/strong>\u2013<\/p>\n

a.\u00a0\u00a0\u00a0\u00a0\u00a0 If Payment made towards Health Insurance Premium<\/strong> \u2013 for the assessee himself, spouse & dependent children \u2013 Sum paid or Rs. 15,000\/- whichever is less<\/strong>, if the individual is senior citizen <\/strong>then the deduction amount is Sum paid or Rs.20,000 whichever is less<\/strong>.<\/p>\n

b.\u00a0\u00a0\u00a0\u00a0 If payment made towards Health Insurance Premium for Parents<\/strong> \u2013 then additional deduction of Sum Paid or Rs.15,000\/- whichever is less is available<\/strong>. If either of the parents is Senior Citizen<\/strong> then the additional deduction available is Sum paid or Rs. 20,000\/- whichever is less<\/strong>.<\/p>\n

c.\u00a0\u00a0\u00a0\u00a0\u00a0 If payment made towards Preventive Health Check-up<\/strong> \u2013 effective from assessment year 2013-14<\/em>\u2013 for the assess himself, spouse, dependent children and parent(s) (Parents not necessarily to be dependent) \u2013 Amount spent or Rs.5,000\/- whichever is less. The aggregate deduction of Rs.5,000\/- This deduction will be allowed within the overall monetary limit prescribed in Sec 80D (i.e. limits given in (a) above)<\/em><\/strong>.<\/p>\n

2.\u00a0\u00a0\u00a0\u00a0\u00a0 IF the assessee is a HUF \u2013 payment towards Health Insurance Premium \u2013 of any member of that Hindu Undivided Family \u2013Sum paid or Rs.15,000 (Rs.20,000 whether insured is a senior citizen) whichever is less.<\/p>\n

Special Provision for Senior Citizens \u2013<\/strong>For Senior Citizens the maximum amount deductible is \u201cTwenty thousand rupees\u201d instead of \u201cFifteen thousand rupees\u201d.<\/p>\n

\n

Who is a Senior Citizen?<\/strong> \u2013 Senior Citizen means (a) An Individual (b) Resident in India (c) Who is of the age of sixty years or more (from assessment year 2013-14 – 60 years; earlier 65 years) at any time during the relevant pervious year.\u00a0 ——*****[ Students (a)+(b)+(c) is very IMPORTANT] *****<\/strong><\/p>\n<\/div>\n

Scope of Deduction under section 80D extended<\/strong>
\n\u2013 The existing provisions of section 80D, inter alia, provide that the whole of the amount paid in the previous year out of the income chargeable to tax of the assessee, being an individual, to effect or to keep in force an insurance on his health or the health of the family or any contribution made towards the Central Government Health Scheme (CGHS) or any payment made on account of preventive health check-up of the assessee or his family, as does not exceed in the aggregate fifteen thousand rupees, is allowed to be deducted in computing the total income of the assessee. There are other health schemes of the Central and State Governments, which are similar to the CGHS but no deduction for such schemes is available to the subscribers of such schemes. In order to bring such schemes at par with the CGHS, the Finance Act, 2013 has amended section 80D effective from the assessment year 2014-15 so as to allow the benefit of deduction under this section within the said limit, in respect of any payment or contribution made by the assessee to such other health scheme, as may be notified by the Central Government.<\/p>\n

Analysis \u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Deduction in available for payment made in cash in respect of Preventive Health Check-up plan but deduction is not available<\/strong> if payment made in cash <\/strong>in respect of Health Insurance premium<\/strong>, i.e., for claiming deduction for health insurance premium, the payment must be made by any mode other than cash<\/strong> \u2013 example \u2013 by Bank Draft \/ Cheque (Account Payee), by Credit\/Debit Card, by Net Banking\/Electronic Fund Transfer etc.<\/em><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Health Insurance premium shall be paid out of income chargeable to tax.<\/em><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 From assessment year 2013-14 an individual can also claim deduction towards sum paid on account of preventive health of himself and his family or his parent. It may be noted that total deduction towards payment in respect of preventive health check-up of self, family and parents cannot exceed Rs.5,000 in aggregate.<\/em><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Family means the spouse and dependent children of the assessee<\/em><\/p>\n

Parents need not be dependent whereas children must be dependent.<\/em><\/strong><\/p>\n

Case 1 \u2013 An Individual Assessee paid Health Insurance Premium for parent amounting to Rs.22,000 by Cash, what will be the amount of deduction available under section 80D?<\/em><\/p>\n

Answer \u2013 NIL, because for claiming deduction under section 80D the premium on health insurance must be paid by any mode other than cash.<\/em><\/p>\n

Case 2 \u2013 If in Case 1, the premium paid by account payee bank draft, then what will be the amount of deduction available under this section?<\/em><\/p>\n

Answer \u2013 Age of parent is not given, hence Rs.15,000 will be allowed as deduction.<\/em><\/p>\n

Case 3 \u2013 Referring Case 1, if the age of parent is 60 years then the amount of deduction will be as under \u2013<\/em><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 If the parent is Resident of India during the previous year then he will be treated as Senior Citizen and the maximum amount of deduction allowable under this section will be Rs.20,000\/-.<\/em><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 If the parent is Non-Resident during the previous year then he will not be treated as Senior Citizen and the maximum amount of deduction allowable under this section will be Rs.15,000\/-.<\/em><\/p>\n

Case 4 \u2013 An Individual (aged 30 years) pays Rs.21,000\/- for self and family and Rs.26,000\/- for parents (aged
\n65 years residing in Germany<\/strong> from last 4 years) as health insurance premium by mode other than cash, deduction allowable under section 80D will be ?<\/em><\/p>\n

Answer \u2013 For self & family Rs.15,000 and for parents Rs.15,000 Total Rs.30,000\/-. In this case parents will not be treated as Senior Citizen as they are not resident of India during the previous year, hence the deduction will be restricted to Rs.15,000\/- only in case of parents.<\/em><\/p>\n

Case 5 \u2013 In case 4 if either of the parents is a Senior Citizen, then the deduction will be Rs.15,000 for self & family and Rs.20,000 for parents Total Rs.35,000\/-<\/em><\/p>\n

Case 6 \u2013 In case 4 if the individual himself is a senior citizen and his parents are also senior citizen, then the deduction will be Rs.20,000 for self & family and additional Rs.20,000 for parents total deduction will be Rs.40,000\/-.<\/em><\/p>\n

Note the definition of Senior Citizen carefully\u2026\u2026 <\/em><\/strong>Senior Citizen means (a) An Individual (b) Resident in India<\/em> (c) Who is of the age of sixty years or more.<\/strong><\/p>\n

Case 7 \u2013 Mr. X (aged 40 years) pays health insurance premium by Credit Card Rs.12,000 for self and family,Rs,17,000 for his parents and his father (aged 66 years) pays Rs. 10,000 as health insurance premium (other than cash) \u2013<\/em><\/p>\n

Answer \u2013 Deduction in the hands of Mr. X \u2013 for self & family Actual sum paid Rs.12,000 or Maximum Rs.15,000, whichever is less = Rs.12,000\/-; for parents (father is senior citizen) Actual sum paid Rs.17,000 or Maximum in case of senior citizen Rs.20,000, whichever is less = 17,000\/-; therefore total deduction in the hands of Mr. X = Rs.29,000\/-<\/em><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Deduction in the hands of Father of Mr. X = Actual sum paid Rs.10,000 or Maximum in case of senior citizen Rs.20,000 whichever is lower = Rs.10,000\/- deduction under section 80D.<\/em><\/p>\n

Case 8 \u2013 Mr. X (aged 65 years) pays Rs.20,000 for self and spouse, Rs.15,000 for children who are not dependent on Mr. X and Rs.17,000 for his parents who are senior citizen, as health insurance premium \u2013<\/em><\/p>\n

Answer \u2013 Deduction available in the hands of Mr. X under section 80D \u2013<\/em><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 For
\nSelf & Spouse\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 [Maximum Rs.
\n20,000 as he is senior citizen]\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs.20,000\/-<\/em><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 For
\nChildren \u2013 children are not dependent hence no deduction\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 NIL<\/em><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 For
\nParents \u2013 Parents are senior citizen hence Max.20,000 or actual<\/em><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Amount
\npaid whichever is less\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs.17,000\/-<\/em><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total
\nDeduction available in the hands of Mr. X \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs.37,000\/-<\/em><\/p>\n

\u00a0<\/em><\/p>\n

Case 9 \u2013 Mr. Y incurs the following expenses during the previous year 2013-14 \u2013<\/em><\/p>\n

(a)\u00a0\u00a0 <\/em>Payment of medical insurance premium for self & family\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs.12,000<\/em><\/p>\n

(b)\u00a0\u00a0 <\/em>Payment of medical insurance premium for parents\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs.12,000<\/em><\/p>\n

(c)\u00a0\u00a0\u00a0 <\/em>Expenditure incurred on preventive health check-up of self & family\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs. 6,000<\/em><\/p>\n

(d)\u00a0 <\/em>Expenditure incurred on preventive health check-up of parents\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs.6,000<\/em><\/p>\n

Deduction available under section 80D in the hands of Mr. Y is as follows \u2013<\/em><\/p>\n

(a)\u00a0\u00a0 <\/em>For payment of medical insurance premium for self & family\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs.12,000<\/em><\/p>\n

(b)\u00a0\u00a0<\/em>For payment of medical insurance premium for parents\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs.12,000<\/em><\/p>\n

(c)\u00a0\u00a0 <\/em>Expenditure incurred on preventive health check-up of all\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs. 3,000**<\/em><\/p>\n

**(deduction for preventive health check-up plus health insurance premium should not exceed basic deduction amount of Rs.15,000 or Rs.20,000 in case the assessee himself is a senior citizen)<\/em><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total deduction available u\/section 80D\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs.27,000<\/strong><\/em><\/p>\n

 <\/p>\n

Hope that this will give you a clear understanding of the section\u2026..<\/p>\n

Keep reading\u2026. Happy Reading\u2026..<\/p>\n","protected":false},"excerpt":{"rendered":"

Under Section 80D of the Income Tax Act, deduction in respect payment made towards Health Insurance Premium and Preventive health check-up is allowable as deduction from total income. Who can claim the deduction & for what? \u2013 Individual or HUF can claim deduction under this section in respect of payment made by them towards:- 1.\u00a0\u00a0\u00a0\u00a0 … Read more<\/a><\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[9],"tags":[28,27,26],"yoast_head":"\nDeduction in respect of Health Insurance Premium \u2013 Sec 80D of Income Tax Act - All About Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taxclick.org\/type\/students\/deduction-in-respect-of-health-insurance-premium-sec-80d-of-income-tax-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deduction in respect of Health Insurance Premium \u2013 Sec 80D of Income Tax Act - All About Finance\" \/>\n<meta property=\"og:description\" content=\"Under Section 80D of the Income Tax Act, deduction in respect payment made towards Health Insurance Premium and Preventive health check-up is allowable as deduction from total income. 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