Section 80D
Tax & DeductionsSection 80D allows deduction for health insurance premiums for self, family, and parents. Up to Rs 25,000 for self/family, Rs 25,000 additional for parents (Rs 50,000 if senior citizen parents). Only under old regime.
In detail
Maximum deductions: Rs 25K+25K = Rs 50K (no senior citizens), Rs 25K+50K = Rs 75K (senior citizen parents), Rs 50K+50K = Rs 1L (both senior). Also includes Rs 5,000 for preventive health check-up within the overall limit.
Formula
Max deduction = Min(premium paid, applicable limit)
Real-life example
🇮🇳 India example
Karan (35) pays Rs 22,000 family health insurance + Rs 28,000 for senior citizen parents. Total 80D = Rs 50,000. Tax saved at 20% = Rs 10,000. Nearly 20% of premium recovered through tax.
Frequently asked questions
Can I claim 80D for in-laws? ▼
No. Only for self, spouse, dependent children, and your own parents. In-laws not covered.