Limit in 80D for AY 20-21

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hi

pls tell me
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Amount paid (in any mode other than cash) by an individual or HUF to LIC or other insurer to effect or keep in force an insurance on the health of specified person. An individual can also make payment to the Central Government health scheme and/or on account of preventive health check-up (subject to limit)

specified person means:

  -   In case of Individual - self, spouse, dependent children or parents

  -   In case of HUF - Any member thereof

    Deduction for preventive health check-up shall not exceed in aggregate Rs. 5,000.

    Payment on account of preventive health check-up may be made in cash.

Section 80D is amended by the Finance Act, 2018. From assessment year 2019-20 onwards the deduction under Section 80D will be available as per the limit specified below:

Individual

HUF

For self, spouse and dependent children : Rs. 25,000 (Rs. 50,000 if person insured is a senior citizen);

Premium up to Rs. 25,000 (Rs. 50,000 if member insured is a senior citizen) paid to insure any member of the family.

For parents of the assessee : (Additional) Rs. 25,000 (Rs. 50,000 if person insured is a senior citizen)

NA

Medical expenditure if no amount is paid in respect of health insurance-Rs. 50,000 (only in case of senior citizen)

Medical expenditure if no amount is paid in respect of health insurance-Rs. 50,000 (only in case of senior citizen)

Aggregate amount of deduction cannot exceed Rs. 1,00,000 in any case

Aggregate amount of deduction cannot exceed Rs. 50,000 in any case.

 

Courtesy: Summary Charts at Income-tax website 

Whether the limit in this section was increased in budgets announced for PY 19-20 w.ef Budget 19


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