_ap_ufes{"success":true,"siteUrl":"www.investmentyogi.com/w","urls":{"Home":"http://www.investmentyogi.com","Category":"http://www.investmentyogi.com/category/alternative-investment/","Archive":"http://www.investmentyogi.com/2015/02/","Post":"http://www.investmentyogi.com/salient-aspects-of-union-budget-2015/","Page":"http://www.investmentyogi.com/nri/","Nav_menu_item":"http://www.investmentyogi.com/trending/","Wpcf7_contact_form":"http://www.investmentyogi.com/?post_type=wpcf7_contact_form&p=5591","Flare":"http://www.investmentyogi.com/flare/email/"}}_ap_ufee

Yogi Zone

Useful articles for your finance management by our team of experts

nri pan card

0 Flares 0 Flares ×

Thank you for writing in to us. Below is the answer to your query

Question

I have two mediclaim policy for my parents whose age is not above 65 years, & i paid for this Rs.17500/-totally. In this case how much Tax benefit i get….?

Answer

Dear Asif,

As per Income Tax guidelines, you will be eligible for an additional deduction of Rs. 15,000 if you have taken a mediclaim policy on your parents (in case your parents are senior citizens then the Tax benefit will extend to Rs. 20000). In your case, since your parents are not senior citizens, you will be eligible for tax exemption of Rs.15000 u/s section 80D.On remaining amount i.e. Rs. 2,500 (17500-15000), you cannot claim any tax benefit

For more information on Tax Deductions Click here

       

[You can now purchase mutual funds online through InvestmentYogi for Zero fees! All you need to do is to fill in a form online and our team will get in touch with you.

Click here

to get started!]

        

Cheers,
The Yogi

0 Flares Facebook 0 Google+ 0 Twitter 0 Email -- 0 Flares ×