Health is wealth — and now, it also helps you save on taxes! Under Section 80D of the Income Tax Act, you can claim a tax deduction for the money you spend on:
Health insurance premiums, Medical check-ups, and Medical expenses for senior citizens.
This benefit is available whether you’re paying for your own policy or for your family’s — including your spouse, children, and parents.
If you’re using the old tax regime, Section 80D is a great way to reduce your taxable income while protecting your health. It’s a win-win!📌 Who Can Claim This Deduction?
Applicable to:
➡️ Individual taxpayers (Resident or NRI)
➡️HUFs
Eligible persons for whom the deduction can be claimed:
Self, Spouse, Dependent children and Parents (whether dependent or not)
🚫 Not allowed for: Siblings, grandparents, in-laws, or relatives other than above.
💳 Mode of Payment
➡️ Health insurance premium: Must be paid through non-cash mode (bank transfer, credit/debit card, cheque, etc.)
➡️ Preventive health check-up: Can be paid in cash
⏳ When to claim: Deduction is allowed in the financial year in which the payment is made.
🏥 Additional Deductions Allowed
✅ Contribution to Central Government Health Scheme (CGHS)
✅ Payment towards approved health schemes for senior citizens
✅ Medical expenses for senior citizens (aged 60 or above) not covered under any health insurance – up to ₹50,000
Under Section 80D of the Income Tax Act, you can claim a tax deduction for the money you spend on:
Health insurance premiums, Medical check-ups, and Medical expenses for senior citizens.
This benefit is available whether you’re paying for your own policy or for your family’s — including your spouse, children, and parents.
If you’re using the old tax regime, Section 80D is a great way to reduce your taxable income while protecting your health. It’s a win-win!📌 Who Can Claim This Deduction?
Applicable to:
➡️ Individual taxpayers (Resident or NRI)
➡️HUFs
Eligible persons for whom the deduction can be claimed:
Self, Spouse, Dependent children and Parents (whether dependent or not)
🚫 Not allowed for: Siblings, grandparents, in-laws, or relatives other than above.
💳 Mode of Payment
➡️ Health insurance premium: Must be paid through non-cash mode (bank transfer, credit/debit card, cheque, etc.)
➡️ Preventive health check-up: Can be paid in cash
⏳ When to claim: Deduction is allowed in the financial year in which the payment is made.
🏥 Additional Deductions Allowed
✅ Contribution to Central Government Health Scheme (CGHS)
✅ Payment towards approved health schemes for senior citizens
✅ Medical expenses for senior citizens (aged 60 or above) not covered under any health insurance – up to ₹50,000
💸 Deduction Limits under Section 80D