Hello friends, how are you all?
I, C.S. Shreya Gupta, welcome you all to our Dhara Bhai's
episode.
In this episode, we were discussing about deductions
chapter.
In deductions chapter, we had read section 80C.
In that 80C, we had read that there is an umbrella section
which has a limit of 1.5 lakh rupees.
And in that, many things get covered.
For example, the premium that you pay on life insurance
policy gets covered in this.
In this, the tuition fees that you pay for your children
gets covered.
But what is allowed for only two children?
In this, the fees for the house that you buy and the stamp
duty that you pay for the house gets covered in this.
Then we had discussed that in the central government
pension schemes, the money that you contribute gets
deducted.
Today, we will discuss about a new section called 80D.
What is 80D?
Sir, let me tell you what 80D is.
80D gives you deductions.
The premium that you pay for your health insurance every
year, you get its deductions from your gross total income.
Which insurance?
Health insurance.
Not life insurance.
Life insurance was covered in 80C.
In the limit of 1.5 lakh rupees.
This is health insurance.
What does health insurance mean?
If you have a disease or fever and you go to the hospital
and get admitted.
And they give you a bill of 2 lakh rupees.
Then either you give the money from your pocket.
If you don't have insurance, then?
And if you have insurance, then you don't need to give any
money.
The insurance company will automatically give the money to
the hospital.
You get your treatment done peacefully.
This is called health insurance.
Now you get its deductions.
When you pay the premium, you get its deductions.
How much do you get?
To whom do you get it?
Friends, if someone is an individual.
If he takes his health insurance on his name.
Or take it on the name of his wife.
Or take it on the name of his children.
Then he gets a deduction of 25,000 rupees.
Assume that his health insurance premium is going.
30,000 rupees annually.
Then how much will he get maximum?
25,000 rupees.
But friends.
Assume that there was a person whose name was Abhishek.
And he used to put Bachchan on his name.
And his name became Abhishek Bachchan.
He took health insurance policy for himself.
For Aishwarya.
For Aaradhya.
Then his 25,000 rupees deduction will be there.
25,000 rupees deduction.
Abhishek Bachchan will get the deduction.
But one night he was watching TV at home.
Bhagwan movie was playing on TV.
And seeing Amitabh Bachchan's role.
He started crying.
He was heartbroken.
And he said.
Father.
You don't worry.
From tomorrow.
I will deposit the premium of your health insurance.
So what did he do?
He covered Big B also.
What happened to Big B?
His father.
If you say father.
Parents.
He also covered them.
So the government said.
You are doing a very good job.
You are taking care of your health insurance expenses.
You are also taking care of your parents' health insurance
expenses.
So for this.
As a reward.
This 25,000 rupees extra.
This is extra.
This extra 25,000 rupees deduction.
And you will get it.
See.
You will get an extra deduction of 25,000 rupees.
If you take a health insurance policy in the name of your
parents.
You will get your own 25,000.
In the case of parents.
You will get 25,000 more.
One case.
The government also said.
The government wants you to take as much health insurance
as possible.
So that the medical facilities.
You can avail.
No one should die in our country.
Because he could not be treated properly.
So the government says.
If you are 60 years old.
Here.
Suppose if you are an individual above 60 years.
So in this case.
The limit of 25.
The limit of 25 increases to 50,000 rupees.
If this person.
Suppose in this case.
This was Abhishek.
Abhishek Bachchan.
And if he was above 60 years.
If he was above 60 years.
And for his parents.
Or first he buys health insurance for himself.
So in his case.
What would be his limit?
Friends.
See.
His limit of 50,000 rupees.
Becomes there.
And suppose.
In the name of his father or mother.
He takes health insurance policy.
Whose age itself is 60 plus.
So his limit here.
Increases to 25.
We.
50,000 rupees.
Is the point clear?
Any problem? 25, 25.
And if it is above 60.
Then 50, 50.
In this limit of 25,000 and 50,000.
Preventive health checkup.
Which you do yearly.
Health checkup etc.
It is included.
So this Abhishek Bachchan has reached.
To thank the government.
Government.
Thank you very much.
Modiji.
Thank you.
That you are giving us.
25,000 and 50,000 rupees.
These deductions.
Modiji said.
Thank you.
It is fine.
But its condition is.
That this premium money.
Don't fill it from number 2.
Don't fill it in cash.
Premium.
This premium.
Always from cheque.
Or do online payment etc.
To give.
Give from number 1.
Don't give from cash in number 2.
He said.
Fine.
No problem.
We will give.
This is the point.
Friends.
Sometimes it happens.
Because father.
Because insurance companies.
If you.
If there is any talk.
They say.
That after one age.
We don't do insurance.
Health insurance.
Because we know.
After that age.
That person.
Will fall sick again and again.
And as an insurance company.
We will have to.
Pay the hospital again and again.
We won't earn.
As much insurance premium.
As much as.
We will pay the hospital.
So in that case.
What will happen.
His father.
He will not get insurance.
So what happened.
Suppose.
One day.
He is really sick.
He has been taken to the hospital.
In his condition.
He was taken to the hospital and there he had some expenses.
He does not have an insurance policy.
And what happened to him?
He had medical expenses.
He had medical expenses to cure him.
So the government says that this is a genuine problem.
That after a certain age, getting health insurance becomes
a big problem.
So in that case, we will do this, that if you have done
medical expenses, if you are above 60 years, then we will
give you a deduction of Rs.
This is the point, friends.
See this.
Is the point clear?
Shall I go ahead?
Okay? Shall I go ahead?
And let's do the reading of this section.
Is this completely clear to you?
Come, let's do the reading.
See this.
What is ATD saying?
ATD says that you will get a deduction to the extent, how
much?
Rs. 25,000.
How much?
Rs. 25,000.
How will you get it?
If you pay a premium, how much will you get?
On the health of?
If you pay a premium on health, whose?
Self, spouse and children.
For example, Junior Big B.
Either you pay a premium.
Or you put some money in the central government health
scheme.
This is the point.
Or you put some money in some other health scheme.
So basically, you should have an outflow from your pocket.
You should have money coming out of your pocket.
For what should it come out?
The money that should come out for health insurance.
So how much deduction will you get?
This is his own.
And if he took it for the parents here, like he took it for
Big B, so how much did he get for Big B?
A further deduction of Rs. 25,000.
We gave him extra.
But this green box says that if Abhishek Bachchan was above
60 years in that case, then how much would be the limit
instead of Rs.
Rs. 50,000.
That's what he is saying.
That you will get an increased deduction of Rs. 50,000
instead of Rs. 25,000.
That if any of the above people is a senior citizen.
In this case, Rs. 50,000.
50% for BigB and 50% for BigB.
If you get a health checkup done, the health checkup is
included within the 25,000 and 50,000 limit.
And you can spend the health checkup in cash.
But keep in mind, the insurance premium, the health
insurance premium, don't ever give it in cash.
If you give it in cash, you won't get the deduction.
So keep this in mind.
Whenever you get a health insurance, keep a note of that as
well.
And check how much the premium is going.
You will definitely get a deduction of up to 25,000.
Keep this in mind.
And go home and tell everyone that our friend, Mr.
Gupta, is a Chartered Accountant and he has told us
everything.
This is a joke.
These people don't know the actual facts.
If you pay attention, it will be covered.
Let's come to the fifth point.
He is a senior citizen, who is above 60 years old and he is
not getting health insurance.
So if he spends 50,000 for medical expenses,
he will get a deduction.
Let's move ahead.
Tell me, did you understand or not?
Friends, always keep your confidence high.
As I tell you in every lecture.
Sometimes, friends, there is a point that
a person gives a premium of health insurance for a very
small amount.
How small?
For example, he is in a profession where he doesn't know
about his future income.
For example, there is a hero.
He got a movie and he received 1 crore rupees.
Now he doesn't know when his next movie will be released.
Maybe it won't be released for life.
Now he has money and he says that he will get health
insurance.
I do a lot of stunts.
If I get an injury in my hand or leg,
I haven't earned so much money
that I will lose money in my treatment.
So what will he do?
He will give 2 lakhs, 3 lakhs, 5 lakhs
and take a health insurance of 20 lakhs or 30 lakhs.
Now suppose the condition is that it is applicable for 10
years.
For example, he says
that the insurance company
says that you do one thing.
It says that
you give us 5 lakhs right now.
It says okay.
And it says that it will be applicable for you
for example, for 50 years.
It will be applicable for you for 50 years.
5 lakhs.
So tell me, if I get 1 year's insurance, how much will I
get?
If I get 1 year's insurance, will I get 10,000 rupees?
So how much deduction will he get for 1 year?
Only for 1 year.
How much deduction will he get for every year?
He will get 10,000 rupees.
The amount of insurance he is paying, he will divide it by
the number of years that how many years it will be
applicable.
And the figure that comes out, he will get his deduction
every year.
Friends, this was the point.
This is the point, friends.
Friends, see this illustration.
What does this illustration say?
This man has made an actual payment.
What has he done?
First, see his age.
It says that he is a 40 year old man.
If he is a 40 year old man, then what will be the limit?
25,000 or 50,000?
Answer is 25,000 rupees.
For himself, 25,000.
And if he is taking it for his parents, and his parents are
above 60 years, then how much will it be for his parents?
50,000.
So what did he do?
He paid for the medical insurance premium, 20,000 rupees,
actual.
He invested money in the health scheme and he spent some
money.
But because he is a 40 year old man, no matter how much he
spends, he will get the maximum deduction, of 25,000 rupees.
And he has already got the deduction of 25,000 rupees in
this case.
And when he spent money on his father,
he filled the medical claim and did the preventive health
check-up, of 51,000 rupees.
But what will be the maximum deduction? 50,000.
His father is above 60 years.
So what will be the maximum deduction? 50,000 rupees.
How much did he spend? 150,000.
Answer is 50,000 rupees.
Friends, see this.
In real life, these sections will be very useful for you.
Because in today's world, every person travels around with
a life insurance policy.
And a health insurance policy also has to be carried around
because medical expenses
are increasing a lot, friends.
A lot of diseases are coming, friends,
which makes a person disabled.
And with this,
I will start my next section, that if a person is disabled,
if a person is disabled,
if a person is disabled, you must be knowing, you must have
seen somewhere, that if a person is disabled,
then there is some expense
in the maintenance
of that person.
For that person, you will hire a nurse,
or there will be some medicines for that person.
If a person is disabled, who cannot see,
then there is some mental problem
for that person.
If something like this happens,
then the government says that this is a very serious matter.
And for this also,
we will bring a section on deduction.
And they have made this section,
80DD.
80DD says that it provides deduction.
Come, read with me.
This is given to the resident, the individual, the HUF.
And what all payments do you get for deduction?
Either you get a person treated medically, for nursing,
for rehabilitation, or you get some money deposited
somewhere for his maintenance,
so that the poor person gets proper maintenance,
gets proper care.
He gets the things that he needs on time.
If you have deposited money for that,
then you get
a deduction of
75,000 rupees.
And if a person is very disabled,
and his whole body does not work,
then you will get a deduction of 1,25,000 rupees.
If a person cannot see with his eyes, then is he a
disability?
Absolutely, sir.
These are the eyes with which we are
watching these lectures, increasing our knowledge.
Think, if a person does not have eyes, then how will he
spend his life?
So in that case, if a person spends for his maintenance, or
spends on his medical expenses,
then that person will get a deduction from his income of
75,000 rupees.
If the disability is less,
and if the disability is more, then he will get 1,25,000
rupees.
If this point is not clear to you,
then I would like to focus your attention on this figure.
Look at this.
Just a minute.
Just a minute, friends.
Did you see that figure?
Look at this.
Now in this case,
in this case, you must have seen this film.
This is Golmaal 1.
In this, Mr.
Parishawal was blind.
His wife was also blind.
Both of them were blind.
Suppose, his grandson,
Sameer,
would have come and would have saved some money for his
medical expenses or for his maintenance.
Then Sameer would have got a deduction of 75,000 rupees.
If his disability was less, and if the disability was more,
then he would have got 1,25,000 rupees.
We are talking about 80DD.
You must have seen this film.
It has got the status of a cult film.
And whenever I feel down,
I also watch this film and refresh my mood.
Okay, friends.
Your point was clear.
Let's move ahead.
Let's move to the next section.
These are very small sections.
There is not much difficulty in them.
Let's move to the next section.
The next section says that what you were talking about just
now was that you were talking about the maintenance of a
disabled person.
You were talking about the maintenance of a disabled person.
You were talking about the medical expenses.
You were talking about the amount you were contributing.
You were getting deduction across total income.
Come on, guys.
You used to get it.
Don't be lazy, friends.
Come on.
Focus on me.
Now, this next section, 80DDB, if you have done medical
expense, if you have a specified disease and you have spent
money to get it treated, then the government says that it
was our responsibility to get free treatment in our country.
But because you are investing your income in that
treatment, will you get deduction from that income? Under
which section? Under 80
DDB, DDB
is a heart- agonising disease.
I am saying this to remind you that the
DDB means heart- agonising disease.
If you try to make it treated, the money you will receive
as deduction will be given.
And this is an important section. you will get the
deduction. This is the section. Come and read with me.
Provides deduction to SSC, which is a resident. On medical
expenses, or for any dependent person, if he spends
anything, the person who is dependent on him, like his
children, wife, parents, if he spends on them, then he will
get the deduction.
This is the section.
How much will you get?
The actual expense of that person, or Rs.
40,000, whichever is less, and if he is a senior citizen,
then the limit of Rs.
1,00,000 is given there.
But keep in mind, if the money is received from the
insurance company, then minus it from the expense.
What is the expense of Rs.
Rs. 10,00,000 was recovered from the insurance company.
So how much will be the actual expense?
Rs. 15,00,000.
Now compare it with the limit of Rs.
40,000 and Rs.
This is the point.
Rs. 40,000 and Rs. 1,00,000.
This is the maximum deduction.
No matter how much you spend, if you are a normal person,
then Rs.
40,000, and if you are a senior citizen, then Rs.
There is a film called
Kal Ho Na Ho.
Shah Rukh Khan was in that film.
He had cancer.
He had blood cancer in that film.
So, to get his treatment done,
Shah Rukh Khan had left his home in Mumbai and had gone to
America.
He had said,
Hey Kiran, get my treatment done.
So Kiran, who was his doctor, was getting his treatment
done.
Kiran was getting her treatment done.
So, what will happen in that case?
Will Shah Rukh Khan get his deduction?
This is the film, which I was talking about.
Can you see the image?
Let me enlarge it.
See, there is a monitor behind him.
Don't look at Preeti Chinda, look at Shah Rukh Khan.
Can you see him in this case?
See, I am standing here.
Now, look at him.
Director, move this side.
He should not see Preeti Chinda.
I am in front of Preeti.
Can you see this machine?
He had gone to America to get his treatment done.
He had cancer in this film.
He had gone to America to get his treatment done.
So, what will happen in this case?
Will he get his deduction?
He was not a senior citizen in this film.
So, what will be his deduction?
Will he get his deduction?
But, if he is 60 years old, let's say, what will be his
deduction?
Will he get his deduction?
Look at Preeti.
Look at Preeti Chinda.
Have you seen her?
Come, let's go.
We will see Preeti Chinda.
Here, they are explaining the master concept.
They don't care about the master concept.
They want to see Preeti Chinda.
She is already married.
She doesn't live here.
Let's go ahead.