Personal Finance & Money Asked by Anshul on February 1, 2021
I am going to buy a health insurance policy in India. I am single, salaried and 24 years old. And I want to include my parents(both 50 yrs) too in the health insurance. I have the following queries:
Please advise.
You can claim 34k or any amount up to 50k for your purpose.
There is no requirement under section 80D that the assesee should be the proposer. The health insurance premium should be paid out of your taxable income for you to claim deduction. There is no requirement under sub sections (a) and (b) that they should be separate policies.
The single proof is sufficient for the deduction under both sections as long as the total amount claimed is covered by the proof.
Alternatively, You can negotiate with the insurer for one policy for you and a supplement for parents ( or vice versa) as well a two separate receipts for the total amount paid.
Answered by Jayaprasad Ramakrishna on February 1, 2021
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