What Are The Tax Benefits Under A Health Plan (Section 80D)?
The tax saving benefits that you can avail by payment of premiums against a health insurance policy will be calculated under section 80D. Below is the table providing the details of tax benefits for health insurance (section 80D).
|
Senior/non-senior citizen |
Medical premium paid & |
Total deduction under section 80d |
|
|
|
Self, spouse and dependent children |
Parents (dependent & not dependent) |
|
|
All members fall under "non-senior citizen" category |
Up to Rs 25,000 |
Up to Rs 25,000 |
Rs 50,000 |
|
Your parents are senior citizens. However, you and your spouse are not. |
Up to Rs 25,000 |
Up to Rs 30,000 |
Rs 55,000 |
|
Your parents are senior citizens. |
Up to Rs 30,000 |
Up to Rs 30,000 |
Rs 60,000 |
For more information, read - Section 80d: income tax deduction for health insurance
If you have any queries concerning the tax deductions under section 80D of the income tax act, drop us a message in the comments section below or give us a ring at 86559 86559.
