What is 80D for senior citizens

80D for Senior Citizens

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What is 80D?

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80D for senior citizens

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Eligibility for senior citizen 80D

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Tax Deduction is available under section 80D

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Tax deduction

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Maximum claim

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80D for Senior Citizens

What is 80D?

Section 80D allows taxpayers to claim deductions for premiums paid towards medical insurance for themselves, their spouse and dependent children.

80D for senior citizens

Section 80D of the Income Tax Act allows senior citizens to claim a tax deduction on their health insurance premiums.

Eligibility for senior citizen 80D

To claim the tax deduction under Section 80D, a person must be a senior citizen aged 60 years or older.

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Tax Deduction is available under section 80D

A person (senior citizen) can claim a tax deduction for a preventive health check-up up to the limit of ₹5,000/- but it will be included in the overall tax deduction.

Tax deduction

A senior citizen with a health insurance policy can claim a tax deduction of up to Rs. 50,000 per financial year on the premiums paid for that policy.

Maximum claim

A senior citizen with senior citizen parents can claim an additional tax deduction of up to Rs. 1,00,000 per financial year for the premiums they pay for their spouse's health insurance.

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Read the blog to know the details of the inclusions and exclusions of the 80D for senior citizens.