Tax deductions - Health insurance
✳️Income Tax Deductions related to Health 🩺 Deduction for Medical Insurance and Preventive Health Check-up (80D) 🩺 Deduction for Medical Treatment (80DDB) 🩺 Deduction for Disability (80U) 🩺 Deduction for Rehabilitation of Handicapped Dependent (80DD) 🔹Deduction for Medical Insurance (Section 80D) • Under Section 80D, Individuals can claim a Deduction for the Medical Insurance Premium paid for- - Self - Spouse - Dependent children, and - Parents • The maximum deduction allowed is - - Rs. 25,000 per annum for Self, Spouse, and Dependent children (or Rs. 50,000 for senior citizens) - Additional Rs. 25,000 for Parents (Rs. 50,000 if parents are Senior Citizens) 🔹Deduction for Preventive Health Check-up (Section 80D) • Under Section 80D, individuals can claim a Deduction for the Expenses incurred on Preventive Health Check-ups for - Self - Spouse - Dependent children, and - Parents. • The maximum deduction allowed is up to Rs....