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What is Section 80D Deduction Explained about?
Section 80D of the Indian Income Tax Act allows taxpayers to claim a deduction for medical insurance premiums paid. Taxpayers can deduct up to Rs. 15,000 for premiums paid towards health insurance for themselves and their families. An additional deduction of Rs. 15,000 can be claimed for premiums paid for health insurance of parents, regardless of whether the parents are dependents. For senior citizens, the deduction limits are Rs. 20,000. The total potential deduction under Section 80D is Rs. 30,000. Deduc
- Author
- sedunair
- Language
- EN