Deduction in Respect of Health Insurance Premium [Section 80D]
- Deduction is allowed for amounts paid for health insurance policies, preventive health check-ups, contribution to Central Government Health Scheme (CGHS), and medical expenditure.
- Deduction can be claimed by an individual for himself, family (spouse and dependent children), or parents.
- HUF is allowed deduction for amount incurred on any family member.
- Maximum deduction under this provision is Rs. 1,00,000.An aggregate deduction for preventive health check-ups shall not exceed Rs. 5,000.
|
Nature of the amount spent |
Age of Family Member |
Age of the parents |
||
|---|---|---|---|---|
|
Below 60 years |
60 years or above |
Below 60 years |
60 years or above |
|
|
Medical Insurance |
25,000 |
50,000 |
25,000 |
50,000 |
|
Health Check-up |
5,000 |
5,000 |
5,000 |
5,000 |
|
Medical Expenditure |
– |
50,000 |
– |
50,000 |
|
Maximum deduction |
25,000 |
50,000 |
25,000 |
50,000 |
- HUFs not eligible for deduction for preventive health check-ups.
- Deduction allowed for medical treatment expenses of senior citizens (aged 60 or above) not covered under health insurance.
- Medical expenditure includes consultation fees, medicines, hearing aids, etc., whether or not covered under insurance.
- Deduction allowed only if payment is made by any mode other than cash. Cash payment allowed for preventive health check-up only.
- Deduction for single premium health insurance policies having cover of more than one year allowed proportionately for number of years covered, subject to maximum limits.