2009 Health Tax Deductions
Health insurance Tax deduction U/s 80 D Query?
Sir, I am 29 year male living with my mother of age 57 years.my gross income is 2,50,.000/- Rs. for year 2009-2010.So my taxable income is around 100000/- So my office is about to deduct tax around 10000/-
I have bought individual Mediclaim policy of 300000/- for which I paid 2800/- as premium from united india. Also i Bought indivisual mediclaim policy for my mother of 200000/- for which I paid premium of 6500/-
How much Tax rebate i will get..?
also, tell me that I have spent amount 2000/- for carrying out medical tests of my mother as it is her first time medilam cover. can I ask for rebate for the amount which I spent for her medical tests..?
I have given simple figures for ease.. kindly let me know will I get near 100% tax rebate or Not..?
2800 Your premium
6500 Your mothers premium
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9300 Total:
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Rs.2000 tests amount dose not under sec. 80D. You can only claim 9300. You still have to pay tax Rs. 9,070. If you want to save that tax also, then you should invest nearly Rs.91,000 in tax saving instruments u/s 80C. (Like LIC premium, NSE, PPF, ELSS ect.,)
You can calculate your tax in the web site given below:
http://multiutils.com/itax/itax4.htm
Ron Paul: “Income Tax = Involuntary Servitude” – 4/13/2009