If I have purchased senior citizen health insurance of Rs. 20,000 then how much it allowed for medical expenses deduction.
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Quick Summary
This discussion clarifies medical expense deductions under Section 80D of the Income Tax Act. It explains that a Rs. 20,000 senior citizen health insurance premium is fully deductible. Additional medical expenses up to Rs. 50,000 can be claimed for parents or a senior spouse, but not for oneself if already covered by insurance. The discussion also touches upon Section 80DD for specified disabilities and the Rs. 5,000 limit for preventive health check-ups under Section 80D, noting that online payments are generally preferred.
@ Honourable dhirajlal rambhia sir, as per section 80d of the Income Tax act any mediclaim insurance if we have paid up to 25000 limit we can claim for us and also our process childrens, for senior citizens of our parents we can claim 50000.
and section 80 DD any medical treatments a mines or severe disability 75 000 up to we can claim more disability we can claim up to 125000 which means prevent health checkup
iam I right sir or any mistake
whether these all all are should be done only online payment whether cash payment is eligible for this