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Section 80D deduction

Health insurance policies are a safety net that secures individuals and families financially against several disabilities and critical illnesses. The health insurance companies take care of all your medical expenses incurred during treatment. This means you can avail of premium quality treatment without worrying about hefty medical bills. Besides protection, the medical insurance policy also provides great tax-saving benefits under Section 80D of the Income Tax Act of 1961. Continue reading to learn more about this section in detail!

Basis

Deduction Amount

For self, spouse, and dependent children

For Parents

Maximum Exemption

Self and parents below 60 years

Rs. 25,000

Rs. 25,000

Rs. 50,000

Self below 60 years and parents above this age

Rs. 25,000

Rs. 50,000

Rs. 75,000

Self and parents above 60 years

Rs. 50,000

Rs. 50,000

Rs. 1,00,000
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What is Section 80D of the Income Tax Act of 1961?

Under Section 80D, any individual or Hindu undivided family can claim a tax deduction for health insurance premiums paid for both super top-up health insurance and critical illness health policies. Besides claiming deductions for self, the taxpayer can also enjoy tax benefits from the health insurance premium paid for the other members of the family.

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Deductions Allowed Under Section 80D of the Income Tax Act, 1961

The deductions allowed under Section 80D of the Income Tax Act of 1961 are mentioned in the table below.

Expenses

Maximum Exemption

Self, spouse, dependent children, and parents who are not above 60 years

Self, spouse, dependent children, and parents above 60 years

Self, spouse, and parents all are above 60 years

Health insurance and preventive check-ups

Self, spouse, and dependent children

Rs. 25,000

Rs. 25,000

Rs. 50,000

Parents

Rs. 50,000

Rs. 50,000

Rs. 50,000

Medical expenses

Self, spouse, and dependent children

Not Available

Not Available

Preventive healthcare check-ups for up to Rs. 50,000

Parents

Not Available

Preventive healthcare check-ups for up to Rs. 50,000 which is covered within a health insurance policy

Preventive healthcare check-ups for parents up to Rs. 50,000

Total Limit

-

Rs. 50,000

Rs. 75,000

Rs. 1,00,000

Which Payments Are Covered Under Section 80D of the Income Tax Act, 1961?

Here are some of the payments for which individuals and HUF can claim tax exemption under Section 80D.

  • Premium paid for health insurance via any mode except cash.
  • Preventive check-up costs
  • Treatment costs incurred due to the medical condition of senior citizens over 60 years who are not covered under any insurance policy.
  • If any person wants to contribute to Central Government Health Scheme can claim for deduction.
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Exclusions Under Section 80D of the Income Tax Act of 1961

Listed below are some of the exclusions under Section 80D of the Income Tax Act.

  • Premium Payment Mode:

The policyholder is not eligible to claim a tax deduction if the premium for their health insurance policy is paid in cash. In addition to this, an individual who is paying must only pay health insurance premiums to avail of the tax benefits.

  • Service Tax:

Taxpayers are not liable to enjoy any tax benefits on the service tax charges assessed on the payment of the premium. Therefore, a policyholder must pay service tax on health insurance premiums, and the payable amount must be equal to 14% of the premium.

  • Group Health Plans:

Group Health Insurance Policies are not eligible for tax deductions under Section 80D. However, the individual can claim tax under Section 80D if they have paid an extra premium to upgrade their plan.

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Comparison Between Section 80D and 80C

Section 80C of the Income Tax Act provides high tax benefits to individuals. Any person can avail of tax deductions up to Rs. 1.5 lakh on various investments, including ULIPs, PPFs, LIC premiums, and more. However, under Section 80D, the health insurance premium paid for oneself, one family, parents, and preventive health check-up expenses are allowed as a tax deduction. A policyholder can claim a tax exemption on their health insurance up to Rs. 1 lakh.

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FAQs

  • Can I avail of tax benefits on multiple health insurance policies?

    Under Section 80D of the Income Tax Act of 1961, you can avail yourself of tax deductions for multiple health insurance plans. However, doing so is possible only if all the eligibility conditions are fulfilled and the premium for the policy is paid in full. 

     

  • Can I claim a tax deduction for the health insurance premium paid towards the policy of my parents?

    It is possible to claim a tax exemption on the health insurance premium on your parent's policy even if they are not dependent on you. 

     

  • Can I avail of tax exemption for my Group Health Insurance Policy?

    No, tax exemptions under group health insurance policies are not provided. However, you can claim a deduction under Section 80D if you are covered under an individual health plan along with a group insurance policy. 

     

  • Are tax exemptions applicable for Hindu undivided families (HUFs)?

    Hindu undivided families can claim tax deductions up to Rs. 25,000 per fiscal year for individuals or all family members under Section 80D of the Income Tax Act. 

     

  • What investments are available under Section 80D?

    Health insurance premiums and costs incurred from preventive healthcare checkups are eligible for claim deduction under Section 80D. 

     

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