Section 80D Explained Fully | Income Tax Deduction of ₹ 1,00,000 | How To Save Tax In India 2021
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- Опубликовано: 2 окт 2024
- #NeerajArora #StockMarketForBeginners #NeerajAroraStockMarket
Hi guys!
In this video we will be talking about some of the deductions that you claim that are in accordance as per Income Tax Act, 1961
We will be discussing some of the ways by which you can claim upto ₹ 1,00,000 in deductions and save your tax every year while protecting your family and your loved ones with the help of Term Insurance & medical plans.
Standard Deduction is a set deduction from a person's pay, irrespective of their position in the organization. Since a specific sum is withdrawn from the annual salary, the taxable income is decreased, and the level of tax paid is reduced too. Standard Deduction is accessible to salaried employees and retirees.
Section 80C is one of the most well or popular sections among taxpayers as it allows them to reduce overall taxable income by making tax-saving investments or incurring qualifying expenses. It allows a maximum deduction of Rs 1.5 lakh from the total income of the taxpayer every year.
A maximum of Rs 5,000 can be claimed under the preventive health check. However, if it is within the actual number permitted under Section 80D. Furthermore addition, the overall cost of a preventive health check-up both for self and the parents cannot exceed Rs 5,000.
You and/or your parents can escape liability if you and/or your parents are elderly people (over 60 years old) and are not covered by every medical insurance but have incurred medical expenses during FY2019-20. The highest amount that can be withdrawn is Rs 1,00,000. (Rs 50,000 in respect of assessee and his family and Rs 50,000 in respect of parents).
If you find these things interesting you can watch the whole video to know more about other ways of saving tax and protecting your loved one with term insurance and other health insurance plans and medical coverage schemes that are tax-deductible.
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Sir ITR file karne ka ek full explained video बनाइये please 🙏
5:50 - not 25000, its 50000 for medical expenditure for senior citizen only
Hi Neeraj, Nice video. Plz make a detailed video on LTA & 80 CCC.
Apne sach me bahut achha samchhaya
Sir koi aisa tax or gst ka course hai jo sirf business point of view se helpful ho ?
बहुत सुंदर प्रजेंटेशन। धन्यवाद , यदि पति एवं पत्नी दोनों वरिष्ठ नागरिक है एवं हेल्थ इंश्योरेंस पॉलिसी लैते है तो क्या Max.सीमा होगी।
मेरा उम्र 85 है । मेरा कोई मेडिकल पॉलिसी नही है। मैं 23 24 में 1450000 ICU में खर्च हुआ। क्या मैं इनकम टैक्स में छूट ले सकता हूं
Good input & good presentation. Tks
Sir plz answer my question sir i believe investment is a good think but my parents are making pressure on me that it is gambling I gave examples Warren Buffet, rakesh jundhuna they also did investments but my parents always say :'that you will loose money in it!; sir plz tell me what to do in this situation
If they are not understanding, then no issues, wait and invest as and when you start earning or invest with whatever you get as pocket money. Indian parents are way too afraid with the name of stock market and I can understand it would be very difficult to make them accept that it's not a gambling.
80 D total exempt 5000 preventing health check and 80ccd 75000 so total 81000 exempt? Correct ?
Sir, THANKS for your efforts. Please make a DETAILED video with an example explaining Sections 80CCD(1), 80CCD(1B) & 80CCD(2). And also how to calculate and classify deduction in these sections.
Awaiting response SOON.
Sir, Im 30 year old. Can I claim healthcheckup upto rs 5000/
Thank you so much for this video. Very informative.
Cataract surgery expenses and income tax?
Sir, pls make a simple video camparing old and new tax regime...
Jai hind sir. Your sec 80D very good explanation lot of thanks and also I want sec 10(16) explanation
Sir please guide guide us other deduction canbe clai.ed
Great
For senior citizens parents- medical expenses means medicines?
The big question is 'how to do it?'
How to apply for tax deduction?
While filing your income-tax
@@gauravpolekar2158 Thanks bro.
I never did that😄. I'm below 18.
Sir.Operation hua he father...uska expense bhi dikha sakte he
Thanks for Information, How we can fill 80d in new income tax portal , Please share steps
Hello, Can we claim medical expenditure for senior citizen parents if health insurance for parents is taken but not used? If yes, do we need to add bills while filing(no such option available)? Please confirm
Please reply the above question.
Just paid medical insurance premium in cash sir... :-)
Can we claim medical checkup twice as once by medical insurance and second time as by showing it as preventive medical checkup?
Hii sir
Do you have any idea what can be the best option for health insurance cover to be taken for the purpose of tx deduction ?
Sir I am in PSU, how can I maximize my deduction? Which section help me to save some tax because the burden of tax is too much..
LIC jeevan Labh, Oriental health insurance.
Get help of CA...GET PROPER TAX PLANNING...PSU PAYING HIGH SALARY..
Can I take tex rebate if ,I didn't take medical policy ?under section 80d
New regine 80D benefits मिलते का please inform में
Whether medicine expenses are allowed in 80d for senior citizens self
video starts from 2:16
Agar health checkup under health insurance karwana pa
Toh 5000₹ deduction milegi
Is medical treatment valid for sr Citizen only. Is it valid for Youngs?
Term plan kisme dalyge
Sir, I have an important query:
My father has an insurance policy and is getting treatment for cancer. However, his insurance limit has been exhausted and I am paying rest of the treatment amount. Can I claim tax benefit for that amount upto a maximum limit of Rs. 1L? If yes, then how?
If ur father already have a medical insurance then medical expenditure are not allowed.
Sir parents mein father isnsenjir citizen and mother is not.. then how to claim?
Hi Sir, do Comprehensive Blood Check Packages of Throcare etc. are considered as "Preventiv Health Checkup" ?
Throcare Invoice is acceptable ?
thank you sir
Sir pls make video on deduction to be claim for first house? and also is there any special deduction for female
one question which I am can't find anywhere. what if parents are not Senior Citizen and disability is more than 40% then how much tax can be saved??
Good informative session. One doubt kindly clarify:
If the person have medical insurance but if his medical expenditure for him/spouse if he pays (without going for claim under medical insurance) will it be considered under this category for tax deduction?
Yes
Medical insurance karwaoge in 80d to free me ijal hoga. Isme 25000 tak ki deduction milta hai. Parents hai toh extra 25000 ? Ielga
Sir I am rajasthan government employee.. Can I show RGHS deduction in 80 D..
Which investigations are covered for preventive health check up❓️
Sir, Thanks for the explanation. can you confirm in-laws covered under 80D or only parents?
80D me kya jitna premium bhrenge usi ki chhut milegi
No
Parents in law are covered in definition of parents ?? If I wl take insured of my parents in law...can I get deduction of the same..???
Sir out of India funds diya as gift uska return file ke time kiya effect hota hai
Sir, 80 d, Kiya deduction paid basic par le Ya financial Year wise, if I pay three years premium for senior citizens partens.. Can I take 80 d claim benefit in two years...
Thanks
How to fill up ITR 2
Max how much amount can i claim in option b.iii medical expenditure .
Sir mane canara HSBC life insurance liya h khya m is ko 80 D m dudction le sakta hu khya
Rghs ki rebet milegi kya 80 d m
Is we claim parents medical expenses as tax saving
If we wish to have deduction under 80d for treatment taken by senior citizen parents without reimbursement or health insurance what document we must carry to support such claim?
Sir
Ghr me senior citizen h aur unka health insurance nhi karaye h to 80d me medical treatments for special disease ke
Column me kuch amount treatment ka dikha sakte h
As my parents expired shall I claim for my parents in law as they are my dependent now.
Neither I nor My parents are senior citizen. Also not taken any health insurance. But madical treatment have been taken. Can I claim treatment amount under 80D??
Why cash payment is not allowed for deduction 80D?? Please answer 🙏
Please answer
अगर माता पिता मे केवल पिता ही 60+ हैं और माता 60 से कम तो कितना लाभ मिलेगा
My mother is a pensioner, total income is not taxable. Can I claim tax deduction for the medical insurance premium under 80D for my mother in my ITR.
For claiming is it necessary to be my mother fully dependent on me? And in this case is my mother will be considered as dependent on me or not?
Sir, I am 23 years old and taking a family floater plan for me and my parents, as my father and mother is not a taxable person and dependent on me so will I take a dedication for my family floater plan on sec 80D?
I am a super Sr. Citizen.Thoigh I cannot get medical Insurance, I claim medical expenses of Rs. 50,000. I do regular medical check up can I get benifit of RS.5000 of Prev. Check up,if so how.I tried it but the ITD portal system doesn't give more than 50,000. Pl. guide.
Hi Sir, i have a single medical insurance that covers both my family and parents. Only one of my parent (father) is a senior citizen. Will i get 50000 + 25000 limit in 80D?
Yes u can but take separate plan to ur family and ur father
सर ,क्या आरजीएचएस कटौती पर धारा 80 डी के अंतर्गत आयकर में छूट मिलेगी जैसा कि सीजीएचएस कटौती में मिलती है।
If i pay for my grand parents can i claim 80D?
मैने अप्रॉक्स 3 lac bill payment Kiya hospital ka online
लेकीन मुझे claim 55000 का ही मिला तो बाकी amount मैं IT return मैं दिखा सकता हु क्या
PLEASE ADVISE
Hi Sir,
What if my father is a senior citizen and mother is below 60 years of age, what would be the amount that I can claim ?
Does Term Insurance come under this 80D , provided I have taken a health rider under term insurance?
If I payed LIC premium for my parents can I claim it under 80D?
You can claim it in 80c
no
Hello
My mother above 60 years old government job retired and having pension.
Can i claim 50000 medical expenditure occurred on her in income tax?
Sir,mene kal 23/02/22 ko hi policy buy ki hai for 3 years ...I paid 22576/-( in one time payment )
Kya mujhe is financial year mei uska tax benefit milega ya nhi ..Agr milega toh kitna ???Plzz reply as soon as possible ......🙏🏻🙏🏻thanks in advance..
I am covered under my company's medical insurance where I dont have to pay money but the problem is they dont give claims unless we are hospitalized. I have been suffering from Slip disc problem where no hospitalization is needed but I had to spent money in MRI's, Blood test, Doctor fee, Physiotherapy, Ayurvedic treatment also when allopathy did not work and if I sum the amount it will be around 50K. Can I make claim for this under sec 80D ?
Hi Neeraj, Can lab test like MRI/ CT Scan/ Angiography costing much higher amount upto 10-15k be claimed in Section 80D or is it also capped under 5k?? Please reply.
Also can this be claimed while filing ITR as investment/expense declaration with employer passed for last financial year.
This limit rs 5000 for non senior citizen but for senior citizen who is of 60 years or above 60 years this limit is rs 50000
Agar medical insurance nahi hai and kuch medical expense hai preventive health check ke alawa like medicine, medical test, etc? If yes can I claim upto the limit i.e. 25000 or not?
Can we take tax rebate for dental treatment of 45k in any section?
Agar mein ek hi health insurance mein self spouse and parents ka karbaya to keya milega deduction? Aur agar father 60+ hai to but mother nehi hai to kitna total deduction milega please bataiye!
What is exacllty covered in Preventive Health Check up?
Is there any condition like dependent parents, in the case of senior citizens?
No
If my wife is working and she has medical policy registered with her pan card details, how it will decide who is paying the premium? Who can claim the deduction then? Me or my wife?
sir need more tax saving videos👍👍👍👍👍
Hi,
Thanks for the video. I'm not able to select 80u under deduction in ITR1 as I'm physically disabled. In the new format the option is unselectable. Could you please let me know how to select it to get the deduction?
If medical insurance in the name of my wife and I am added with it, so may I get income tax benefit to show this policy
What about Term Plan with Critical Illness cover? Can I claim full premium amount under 80D or just the amount paid extra for critical illness rider?
Term insurance comes under 80 D?
Awesome video
Sir please inform Me. I am senior citizen. Age 72 year l have not open mediclaim claim. I can claim 80 D for incometax return yes or no please inform me. How amount I can claim
Sir Bina insurance ke kitne Tak ki tax me rebate mil sakti hai
If i pay 3 year insurance premium rs 25000, can i claim total deduction in first fy?
Sir mera pichle sal mar 22 tak koi tax nhi cut hua magar Apr 22 me income tax 1200 cut hua he ,,kya ye per month cut hoga,, aur avi to new FY suru hi hua he, jab 5Lakh se jayda hota he tavi to cut hona chahiye tha na .... Sir please reply
Please make a video on Equal Weight Index Fund
Can I submit medical bills like doctor consultation, medicine purchase bills etc for 80D. I already have medical insurance btw
Sir 80 d section me person apna treatment ya medicine bill ka claim kar sakta h ya nahi.
Like maine apne teeth ke liye 12000 ka RCT TREATMENT LIYA aur medibice bhi 1000 rupaye ka fir isko deduction me show kar sakte h ya nahi
Hi, My employer refused to give 80D exemption for my mom saying not under my name! How to proceed and can i claim it at ITR?
Sir
50% of My health insurance premiums is paid by my employer and it was deducted from my salary. Can we claim the employees share of premiums under 80D
400k🙌🏻💪💪
Does term plan with health rider comes under 80D
Hi what's the last time to file taxes
My age is 27 I have medicine expenses can I claim that all in sec 80D
IF my spouse pays for medical insurance policy in his name for our family (me, himself, 2 kids) and doesn't claim deduction in his ITR can I claim the 25k deduction in 80D I have the receipts for payment
Can I claim deduction on mediclaim taken for my in laws?