Friday, September 26, 2014

Section 80D Mediclaim Income Tax Deduction for Individual for fy 2014-15

Section 80D Mediclaim Income Tax Deduction for Individual for fy 2014-15  | deduction under section 80d for fy 2014-15 | mediclaim policy under section 80d | Tax Benefit and Exemption u/S 80D income tax ACT 1961 for FY 2014-15 AY 2015-16 |

Proofs to be Submitted for claiming income tax exemption u/s 80D 


  • Photocopy of the receipt and insurance certificate issued by the Insurance Company
  • Receipts should be of the current financial year only (Apr’2014 – Mar’2015)
  • Receipt / Certificate should specify that benefit eligible u/s 80D (Mediclaim Insurance)
  • "(If Parents Medical Insurance is recovered through salary, proof for the same is not required and tax benefit will be given as per the deduction made through salary).
  • Only Premium amount is allowed
  • Preventive heath check up is allowed for deduction upto Rs 5,000, within the overall deduction limit.

Tax Exemption u/s 80D

How to claim tax benefit for preventive health check up |Tax Benefit on Preventive Health Check-up u/s 80D | mediclaim policy under section 80d | benefits under section 80d | 80d limit for fy 2014-15 | deduction under section 80d for preventive health checkup


  • Least of the premium paid or amount mentioned below is exempt
  • Limited to Rs.15000/- In case of Individual, Spouse & Children
  • Limited to Rs.30000/- In case of Individual, Spouse, Children and parents below 60 years
  • Limited to Rs.35000/- In case of Individual, Spouse, Children and any one parent above 60 years
Tax Benefit and Exemption u/S 80D income tax ACT 1961 for FY 2014-15 AY 2015-16
Tax Benefit and Exemption u/S 80D income tax ACT 1961 for FY 2014-15 AY 2015-16


Following things are disallowed 


  • Late payment charges, Future payments and service tax will not qualify for the benefit.


No comments:

Post a Comment