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Deduction under Sec 80D
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Deduction under Sec 80D

Tax Benefits - Deductions under Section 80D
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Deduction under Section 80D - Premiums paid for Medical Insurance

Category of Assessees allowed Deduction

  • Individual assessee
  • Hindu Undivided Family

Eligible Premiums

Premiums paid by assessee by any mode other than cash in the Financial Year out of his taxable income to effect or to keep in force an insurance on the health of following persons:

  • In the case of Individual– Self, spouse, dependant children and dependant parents
  • In the case of HUF – Any member of HUF (incl. Karta)

Deduction and Upper Limit

The qualifying amounts under Section 80D is upto Rs. 15,000. However, a higher amount of upto Rs. 20,000 is permitted if the person, for whose health insurance premium was paid, was resident and aged 65 years or more at any time during the financial year in which the premium was paid. Such amounts of premium paid would be allowed as deduction from the total income of the assessee.

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