Deduction is available
for (below 60 years old) max Rs. 25,000
/- to a tax payer of premium paid for Medical insurance of self, spouse and dependent
children. If individual or spouse is above 60 years old or more the deduction
available is Rs 30,000.
For claiming
deduction, it is mandatory that the above payments should be made by any mode
other than cash (e.g. cheque, credit card, debit card, etc.)
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Section 80D: Deduction
for Preventive Health Check-Up
A deduction of Rs.
5000 will be allowed under this section for payment of preventive health check-up of either the individual himself or
his family members which includes spouse, parents and dependent children.
This deduction is not
in addition to the deduction of Rs.25000/30000 stated above, but is included in
the above deduction.
It is important to
note that Rs.5000 is the maximum total deduction allowed. This deduction is not
per person but in total. So if a person pays an amount for preventive health
check up of himself + spouse + dependent children + parents, the gross total
deduction allowed would be Rs. 5000.
For preventive health
check-up payment can be made by any mode (including cash) for claiming
deduction.
Therefore, the maximum
deduction available under this entire Section 80D is to the extent of Rs.
60,000.
