80D Income Tax Benefit

Section 80D – Medical Insurance Deduction for the premium paid for Medical Insurance Deduction under this section is available to an individual or a HUF. A deduction of Rs. 25,000 can be claimed for insurance of self, spouse and dependent children. An additional deduction for insurance of parents is available to the extent of Rs 25,000 if they are less than 60 years of age or Rs 50,000 (has been increased in Budget 2018 from Rs 30,000) if parents are more than 60 years old. In case, a taxpayers age and parents age is 60 years or above, the maximum deduction available under this section is to the extent of Rs. 100,000. Example: Rohan’s age is 65 and his father’s age is 90. In this case, the maximum deduction Rohan can claim under section 80D is Rs. 100,000. From FY 2015-16 a cumulative additional deduction of Rs. 5,000 is allowed for the preventive health check up to individuals. To read more and get informations visit https://www.facebook.com/mediclaimagent/ and likes the Page. For Health Insurance related services, U can always call 98401 77017 Devarajan www.starhealthdevarajan.com https://www.facebook.com/mediclaimagent/ #starhealth #mediclaim #healthinsurance