Rs 15000 paid for health insurance of your parents can get you rebate

The Finance Minister has announced additional limit of Rs 15000 provided you have paid the same for health insurance of your parents.

We welcome this.

When we come to practical aspects then the points arises are;

1.Insurance co wants parents to be the proposer under senior citizen policy and the proposal form should be filled up & signed by parents only.
2.The cheque should be issued by the parent.


While Income Tax deptt wants that premium should be paid by the income tax assesse only.

This means that parent will pay and get the rebate.

Let us see who changes the rules
Insurance company
or
Income Tax deptt.

Let us hope we do not have to wait for 12 months for change in rules.