Section 80D allows deduction for health insurance premium paid for self, family, and parents.
| Category | Deduction |
|---|
| Self + Family | ₹25,000 |
| Parents (below 60) | ₹25,000 |
| Parents (60+ or senior citizen) | ₹50,000 |
| Self (senior citizen) | ₹50,000 |
For Self and Family
- Self
- Spouse
- Children (dependent)
For Parents
- Father (biological/adoptive)
- Mother (biological/adoptive)
- Can be above 60 years
| Mode | Deduction Allowed? |
|---|
| Cash | No |
| Cheque/DD | Yes |
| Online transfer | Yes |
| Credit card | Yes |
- Can claim both self/family and parents
- Maximum deduction: ₹1 lakh (including parents)
- Preventive health check-up: ₹5,000 included
- Payment must be for health insurance
- Not for parents-in-law (unless dependent)
- Premium paid in cash (above ₹2,000)
- Contribution to any trust/hospital
- Higher deduction of ₹50,000
- Medical expenditure allowed if no policy
- Also covers preventive health check-up
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