Income-tax Act, 2025

Deduction in respect of health insurance premia - Section 126

Deduction in respect of health insurance premia.

126. (1) An assessee, being an individual or a Hindu undivided family, shall be allowed a deduction of a sum as specified in sub-sections (2) to (8), payment of which is made by any mode as specified in sub-section (9), out of his income chargeable to tax in the tax year.

(2) In the case of an assessee, being an individual, the sum referred to in sub-section (1), shall be the aggregate of the whole of the amount paid

(a) to effect or keep in force an insurance on the health (herein referred to as health insurance) of the assessee or his family, or any contributions made to the Central Government Health Scheme or such other scheme, as may be notified by the Central Government in this behalf, or any payment made for preventive health check-up of the assessee or his family, up to Rs. 25000 in aggregate;

(b) to effect or to keep in force the health insurance, or any payment made for preventive health check-up, for the parent or parents of the assessee, up to Rs. 25000 in aggregate;

(c) on account of medical expenditure incurred on the health of the assessee or any member of his family, up to Rs. 50000 in aggregate; and

(d) on account of medical expenditure incurred on the health of any parent of the assessee, up to Rs. 50000 in aggregate.

(3) The deduction in respect of amounts referred to in sub-section (2)(a) or (2)(b), which are paid on account of preventive health check-up, shall be allowed up to Rs. 5000 in aggregate.

(4) The amount of sum referred to in sub-section (2) shall not exceed Rs. 50000 in aggregate of the sum specified under sub-section (2)(a) and (c) or aggregate of the sum specified under sub-section (2)(b) and (d).

(5) In the case of an assessee, being a Hindu undivided family, the sum referred to in sub-section (1), shall be the aggregate of the whole of the amount paid

(a) to effect or keep in force an insurance .... To read the full section download the app from Google Play store