_Case of a senior citizen payments made online _ If I claim expenditure under a health insurance policy for a *specified* disease and the amount reimbursed is one Lakh only which is less than the actual expenditure of Rs 3 Lakhs , then can I claim deductions for the remaining amount of Rs 2 Lakhs under Section 80D and Section 80DDB? 1) a deduction of up to Rs 50,000 under Section 80D (for medical expenses not reimbursed by insurance 2) a deduction of up to Rs 1,00,000 under Section 80DDBspecified disease treatment simultaneously Since the total deduction claimed under both sections cannot exceed the remaining unreimbursed amount Rs 2 Lakh ? B) case 2:- where no health insurance policy exists! .. Can I claim 80D and 80DDB simultaneously?
@accountxАй бұрын
1) If you have health insurance, then no deduction u/s 80D for medical expenses/treatment except for preventive health check up for a max of ₹5k. U/s 80DDB, for senior citizens, subject to satisfaction of specified conditions, you may avail deduction up to ₹1 lac (out of remaining ₹2 lac). 2) When there is no health insurance, senior citizens can claim deductions under both, subject to limits specified. Note: Deduction u/s 80DDB is towards medical treatment for specified disease.
@sukumarane2302Ай бұрын
Regarding reply (1) , you have pointed out no deduction under 80 D for medical expenses OK …. but can claim Rs 50000/- for premium paid for health insurance ,Isn’t?
@anjandas3045Ай бұрын
Madam, my father and mother is senior citizen and he/she has no medical insurance. My query is whether year round medical expenses such as, medicines, ct scan test, blood tests and other medical tests expenses as prescribed by doctor are eligible under 80d medical expenditure?
@accountxАй бұрын
Yes
@jstechcode69322 жыл бұрын
What if medical insurance are taken in cash ? How Tax authorities validate these ? What if I fill this in ITR without any proof ?
@accountx2 жыл бұрын
IT dept may not know at the time of filing ITR because info in Income tax return is self declared and self assessed. However, if any notice is issued subsequently and if this matter comes up at that time, then you may be asked to reverse it and pay interest and penalty.
@jstechcode69322 жыл бұрын
@@accountx thanks mam, I hope penalty is not that much and will be applicable on the insurance amount only
@anbalaganravindran94402 жыл бұрын
Very clear explanation thank you
@accountx2 жыл бұрын
Thanks for watching
@erhemantkumar19872 ай бұрын
Hello mam, can i claim 80d deduction inr 5000/- for preventing health checkup for my mother (below 60 yr, 54 yrs) without purchasing medical health insurance policy? My mother is family pensioners and not medically insured by government.
@accountxАй бұрын
Yes, you may.
@priyojitdas Жыл бұрын
mediclaim policy propose is wife but premium paid by husband by online transfer from his own bank account , can husband get deduction u/s 80D in his ITR.
@accountx Жыл бұрын
Yes, I think you can claim.
@sohit77069 ай бұрын
Hi mam, what is covered under medical expenses. Is prescription required. Can we claim common medicines like paracetamol and vitamin supplements as medical expenses for parents above 60 years? If I include medicine bill, how will they know that the medicine i am buying is for senior citizens and not other dependent when there is no mention of patients when buying medicine from a medical shop?
@accountx9 ай бұрын
Such nuances are not specified in the law and this is the risk that everyone carries. As long as you are able to convince the AO (if queried) the genuineness of transactions, there should not be any issue.
@kishorekumar-kp8ufАй бұрын
I have health insurance policy covered for my family and parents by employeer , i have taken top up and paid the premium out of pocket, is this top up is allowed in deductions under 80D, even though health insurance is provided by employer, there are medical expenses due to sublimit in policy eg cataract , these out of pocket expenses are allowed for deduction in 80D?
@accountxАй бұрын
Top-up premium paid by you can be availed as deduction u/s 80D but not out-of-pocket medical expenses.
@aldrindias44342 ай бұрын
Hi maam, premium of health insurance policy is paid by my employer is part of my CTC, can i claim it in 80D? Secondly can you confirm if medical allowance of 15000 can be exempted of under section 10 if it is part of my salary breakup?
@accountx2 ай бұрын
No to both
@foodi_eeengineer30502 ай бұрын
Maam can an NRI can claim deduction for medical expenditure incurred for senior resident mother ,?
@accountx2 ай бұрын
Yes, if she is not covered by health insurance.
@pramodshelke55589 ай бұрын
Hello ma'am, im salaried person. Recently my father had hospitalized and expanse are 2.5lac.. can i claim tax benifit in my ITR filing?? I had paid the all bills and my father are at house only. No job.. please guide
@accountx9 ай бұрын
Yes, if no health insurance, then you may claim deduction up to ₹50k.
@tamilvasan6132 жыл бұрын
Very useful information for the tax payer. Is any additional income tax exemption for expenditure on Covid Treatment?
@accountx2 жыл бұрын
Thank you. Yes, money received (towards covid19 related expense) from the employer is fully exempt. If received from others (like friends), then exempt up to ₹10 lacs in a year.
@2491261 Жыл бұрын
I am a super senior citizen Paying IT every year. Currently i am abroad and have to consult and undergo treatment on minor heath issues, I am not having local insurance coverage and have to pay for undergoing treatment. Can i claim 80 D deduction on the expenditure incurred abroad for my own treatment. If so kindly explain me the procedure to be followed to submit my claim during this Financial year.
@accountx Жыл бұрын
I think there is no specific restriction to avail deduction of medical expenses incurred abroad if you have no health insurance policy in India and if you satisfy other requirements. You can claim this deduction when you file your ITR for the next year.
@karthikk2572 жыл бұрын
Hello madam. (For a senior citizen) Should it be tax payer credit/debitcard /UPI or it can be children's cards. ( no health insurance).can we claim the money used for facemasks, sanitizer 2) NSC 5 year tax saving fd, is there any exemption on 1-4 years interest as we received 5 years interest at once.( Maturity after 5 years). If exemption available how can we claim(where to enter this data)
@accountx2 жыл бұрын
1) Usually, paid by the person claiming the deduction. No specific mention about facemasks, sanitizers etc. If it can be said that such medical expenditure (no health insurance) is incurred on the health of the person, then deduction can be claimed I think. 2) Interest on NSC is not actually exempt. Interest is added as income and the same can be claimed as deduction u/s 80C for all the years except for the last year. No exemption of interest in case of Tax-saving FDs.
@harishbabu8630 Жыл бұрын
Hello ma'am.. Is it possible to claim monthly medicine bills under 80D who is under 60 & above 60.. Also if possible to claim if they have insurance ?? Thank you..
@accountx Жыл бұрын
No for those who are under 60. For 60 or above, deduction of medical expenses can be availed only at the time of filing ITR provided no insurance. If insured, then health insurance premium paid can be claimed as deduction at the time of filing ITR.
@rameshp3458 Жыл бұрын
Hi mam, Recently I spend more than 1lack medical expenses for my son surgery but I can’t claim through my health insurance policy so can I how this for tax exemption under 80D????
@accountx Жыл бұрын
Sadly, no such provision exists u/s 80D. Deduction benefit of medical expense, when there is no health insurance policy, is available only in respect of senior citizens. One option I can think of is deduction u/s 80DD. This is only for some specific illness. Not sure if you can avail this deduction. Just google to know more about it.
@thatikondasomalingam88312 жыл бұрын
What if payment is made through upi. In this case we don't have receipt . How can we claim exemption?
@accountx2 жыл бұрын
Very similar to NEFT transactions thru Net-banking. UPI transaction reference in the bank statement can be a supporting evidence.
@pawankhare4282 Жыл бұрын
I am unemployed and my only income is from fixed deposit..can I claim the medical expenses without having any medical insurance...or should I buy medical insurance so that I could claim medical expenses in future...please reply
@accountx Жыл бұрын
Deduction of medical expense when there is no health insurance is only for senior citizens. Not compulsory to now have health insurance to claim expense in future.
@pawankhare4282 Жыл бұрын
@@accountx thanks
@cnsselva7 Жыл бұрын
Whether grand parents medical expenses can claimable?
@accountx Жыл бұрын
No, not covered
@nareshbabu2109 Жыл бұрын
hi madam, in incometax portal can i submit medical expenditure without bills ?
@accountx Жыл бұрын
You can't submit pharmacy bills as such but you need to include these expenses in your ITR. Watch the video to know more.
@mdnoorulla56182 жыл бұрын
Which section IT ACT
@accountx2 жыл бұрын
You mean this video about which section of income tax act? If yes, then section 80D which is mentioned in the title too.
@yourssanthosh52 Жыл бұрын
Madam my wife age is 30 for IVF treatment we spent 3 lakhs in last 3 months.can we get excemption? Pls advise
@accountx Жыл бұрын
I think it's a no. Deduction of medical expenditure is only for senior citizens having no insurance.
@yourssanthosh52 Жыл бұрын
@@accountx so bad.my income considered as income and take out amount for tax..when we paid expenses they not respecting
@accountx Жыл бұрын
@@yourssanthosh52 Actually this benefit (medical expenditure) should have been open for all. Some representation to the govt in deed is needed.
@yourssanthosh52 Жыл бұрын
@@accountx worst govt..no respect on expenses .our IT policy is not Middleclass friendly
@bharatnadhani4532 Жыл бұрын
Poor audio
@accountx Жыл бұрын
Thanks for your feedback. Right, microphone was not good, one of the initial videos.
@imArun.R Жыл бұрын
Mam my parent undergone surgery, it cost around 2.23 lakh, for them no health insurance i paid by cash but im eligible for reimbursement in my office. My employer told i will be taxable, can i get tax exemption.
@accountx Жыл бұрын
No deduction because it is paid in cash
@imArun.R Жыл бұрын
@@accountx mam after reimbursement of hospital experience of 2.23 lakh is taxable income, unable to calm tax exempt? My parent are senior citizen
@accountx Жыл бұрын
@@imArun.R Reimbursement from employer, of medical expenses is taxable. If the payment to the hospital is made by any mode other than cash (UPI, credit/debit card etc), then you can claim deduction u/s 80D up to ₹50k.