Section 80D - Medical Insurance for Parents

Hi Team,
One of our EMployee has taken Medical Insurance for his Parents. His father’s age is more than 60 years and his mother’s age is less than 60 years.
In this case which slab do we need to select for the tax exemption.
because if he selects less than 60 years, then he will get only 25K exemption which is a loss for him.
Kindly suggest us.

3 Likes

One question is one single poliy or separate policies for father and mother?
If one policy for both the parents, I think the employee can consider his father’s age and claim 50K.

3 Likes

What is the question?

image001.png

2 Likes

It should be one policy in the name of the employee with the parents shown as dependents as the receipt should be in the name of the employee for him to claim the benefit.

pa

Employee below 60 Rs 25000

Employee and parents below 60 Rs 50000

Employee below 60 and parents above 60 Rs 75000

image001.png

3 Likes

If one of the parent is 60+ then Rs 50K. It is not necessary for both parents to be 60+ to claim tax benefit of Rs 50K - only one is sufficient.

Like someone commented above - it has to be a single policy for both parents in the name of the employee showing parents as dependent.

2 Likes

@mohanjacob

But what if policy is bought separately for parents and employee has made the payment ? Can we still consider that deduction ?
If parents have earning , in such cases, can still employee claim benefit of their medical insurance deduction by paying for the policy?

1 Like