Deduction for Medical Insurance
This query is : Resolved
01 May 2024
Resolved and deleted.
02 May 2024
Son can take deduction as he paid the premium. Father is not eligible as he has not paid the premium
02 May 2024
Resolved and deleted.
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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