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Deduction under section 80D claimed
Can i claim deduction under section 80 D for medical expenses for senior citizens parents. how much can be claimed ?
Replies (6)
Quick Summary
Yes, maximum Rs. 50,000/- u/s. 80D, for senior citizen parents...
Yes, Rs. 50,000 is maximum available over and above Rs.25,000 available for self and his family
50k for senior citizen parents (Medica exp)and 5k for self , spouse children.(Preventive health check up)
Sec 80D EXEMPTION MAX FROM GROSS TOTAL INCOME.
According to Section 80D of the Income Tax Act, Senior Citizens may avail a higher deduction of up to ₹ 50,000 for payment of premium towards medical insurance policy. The limit is ₹ 25,000 in case of Non-Senior Citizens.
Further Section 80DDB of the Income Tax Act allows tax deduction on expenses incurred by an individual on himself or a dependent towards the treatment of specific diseases as stated in the act. The maximum deduction amount in case of a senior citizen is ₹ 1 lakh (₹ 40,000 for Non-Senior Citizen taxpayers).
Thanks all
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