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 list providing the details of maximum limit under section 80D for different categories -
For self and family (no member is a senior citizen) - a maximum of Rs 25,000
For self and family + parents (no member is a senior citizen) - a maximum of Rs 50,000
For self and family + senior citizen parents - a maximum of Rs 55,000
For self (senior citizen) and family + senior citizen parents - a maximum of Rs 60,000
You can read further about how to invest under section 80d to avail tax deduction in this Article. If you have any further queries concerning 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.