sir
if we have senior citizen parents can we claim 50000 for their health expenses if medical insurance is not available. and is it necessary to maintain their bills to claim.
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Tax exemption for senior citizens
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Quick Summary
We claim 50000 for health expense
If your parents are dependent, you should declare the money that you spend on monthly expenses.
You can deduction on their life Insurance, health insurance premium amount, health expenses for health checkup, hospital expenses which is not cover under life or medical policy.
Sometimes, people are facing critical time, spent so much money for critical illness that can be claimed additionally up to 1 lakhs. Refer Income tax health expenses claim specified in the list of disease.
Yes. You can claim deduction for medical expenses incurred for parents up to Rs 50,000:
if they do not have a medical insurance policy
Parents are 60 years or above
Payment made through modes other than cash
Have valid bills and receipts for the expenses paid by you
if they do not have a medical insurance policy
Parents are 60 years or above
Payment made through modes other than cash
Have valid bills and receipts for the expenses paid by you
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