Glossary · Income Tax
Section 80D
Deduction on health-insurance premiums and preventive-health-checkup expenses for self, family, and parents.
Under Section 80D, an individual or HUF can claim ₹25,000 for health insurance of self, spouse, and dependent children; an additional ₹50,000 for parents if parents are senior citizens; and up to ₹5,000 for preventive-health check-ups within the overall limit. The deduction is allowed under the old regime only. Premiums paid in cash (other than to the bank or via net-banking) do not qualify. From FY 2018-19, the additional limit for very senior citizens (80+) is ₹50,000.
Examples
A 35-year-old paying ₹20,000 premium for a family floater and ₹60,000 for senior-citizen parents can claim ₹25,000 + ₹50,000 = ₹75,000 under Section 80D.