Learn how to maximise the tax benefits and savings using health or medical insurance under section 80D of the Income Tax Act
Who is the Policy for? | Tax deduction for individuals and families (in ₹) | Tax Deduction for parents (in ₹) | Preventive health checkups annually (in ₹) | Maximum Tax deduction (in ₹) |
---|---|---|---|---|
Individuals and family (below 60 years) | 25,000 | – | 5,000 | 25,000 |
Individuals, family, and parents (all below 60 years) | 25,000 | 25,000 | 5,000 | 50,000 |
Individual and family (below 60 years) + parents (above 60 years) | 25,000 | 50,000 | 5,000 | 75,000 |
Individual, family and parents (all above 60 years) | 50,000 | 50,000 | 5,000 | 1,00,000 |
HUF members (below 60 years) | 25,000 | 25,000 | 5,000 | 25,000 |
HUF members (one member above 60 years) | 50,000 | 50,000 | 5,000 | 50,000 |