Deduction for Medical Insurance

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Under Section 80D of the Income Tax Act, you can claim a tax deduction for medical insurance premiums paid for your parents. If your parents are under 60, the deduction limit is Rs 25,000, increasing to Rs 50,000 if they are over 60. The individual who actually pays the premium is eligible to claim the deduction.

Chahat Khanna

Chahat Khanna (Querist)
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01 May 2024 Resolved and deleted.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 May 2024 Son can take deduction as he paid the premium. Father is not eligible as he has not paid the premium

Chahat Khanna

Chahat Khanna (Querist)
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02 May 2024 Resolved and deleted.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 May 2024 Under Section 80D of the Income Tax Act, you are allowed to claim a tax deduction on the premiums paid for your parent's health insurance. If your parents are aged below 60, you can claim a deduction of up to Rs 25,000 and if they are above 60, the maximum deduction goes up to Rs 50,000.1

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