on 06-22-2015 6:43 AM
Dear Profetionals,
Kindly Help on this As early As Posible
Before Updating the New Tax changes IT585 Medical Insurence component is working Fine
After Updating the New Tax Changes and the Note it is not allowing to update the Amount in the Both components (1. Med Ins For Senor Citizen , 2. Med Ins For Non-Scinior Citizens)
please check the belwo attached screen shot
please suggest what to do, we need to update the amount and Process the Payroll today
thanks in Advance
Regard's,
Sajid Ali Khan,
Hi,
As per the error, we can't maintain Medical Insurance premium for Senior citizen and Non Senior Citizen together and you can maintain any one of this.
Regards,
Venkat Polisetty
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Hi,
As per my knowledge, we can maintain any one of in this two fields based on Employee date of birth.
Please find the below Information:
For those less than 60 years old
Increased deduction under section 80D to Rs 25,000 from Rs 15,000 – when you pay health insurance premium for self or spouse or children (allowed for dependent children) you can now claim a deduction of Rs 25,000 instead of Rs 15,000 allowed earlier. This increase is a great encouragement to tax payers to insure their health if they haven’t already.
For Senior Citizens
Section 80D limit raised to Rs 30,000 – Deductions under section 80D are allowed on health insurance premium paid. In case of premium paid for senior citizens the deduction allowed shall be up to Rs 30,000. This is a great relief to Senior Citizens who may have to shell out a higher premium. This limit was Rs 20,000 earlier.
Deduction for Medical Expenses for Super Senior Citizens up to Rs 30,000: Individuals who are more than 80 years old shall be allowed a deduction for medical expenses of up to Rs 30,000 from their total income.
Regards,
Venkat Polisetty.
hi,
Please Check the Below Link for the same threat as Per the Govrnment
http://www.relakhs.com/mediclaim-insurance-tax-section-80d/
check the example 2
please tell me the changess
Regard's,
Sajid Ali Khan,
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