Intimation u/s 143(1)

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This discussion clarifies the deduction limits under Section 80D for the Financial Year 2018-19. For parents who are senior citizens, the maximum deduction for medical insurance is INR 50,000. If both the taxpayer and their senior citizen parents are over 60, the total deduction can reach up to INR 1,00,000. This section also covers deductions for self, spouse, children, and preventive health check-ups.

Anagha

Anagha (Querist)
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19 July 2020 Kindly advise how much deduction can be claimed u/s 80D for FY2018-19, AY19-20 ? My parents are senior citizens. Is it max INR 75k ?

Eswar Reddy S

Eswar Reddy S (Expert)
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23 July 2020 50000 for parents and Self/family 25000 to 30000 depends on age

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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05 November 2021 An individual or HUF can claim deduction under section 80D for the below-mentioned payments:

1. A medical insurance premium paid for self, spouse, children or dependent parents in any mode other than cash.
2. Expenditure incurred on the account of preventive health check-up
3. Medical expenditure incurred on the health of senior citizen (aged 60 years or above) who is not covered under any health insurance scheme.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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05 November 2021 Individual:

a. An individual can claim a deduction up to Rs 25,000 for the insurance of self, spouse, and dependent children.
b. An additional deduction for the insurance of parents is available to the extent of Rs 25,000 if they are less than 60 years of age, or Rs 50,000 (as per the Budget 2018) if your parents are aged above 60.
c. If both the taxpayer and the parent whom the medical covers have been taken for are aged more than 60 years, the maximum deduction that can be availed under this section is to the extent of Rs 1,00,000.

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