Deduction available for medical insurance premiums paid for self, spouse, dependent children, and parents. This is separate from and in addition to Section 80C.
Deduction Limits
- ₹25,000 for self, spouse & dependent children
- ₹25,000 additional for parents below 60 years
- ₹50,000 additional for parents aged 60+ years
- ₹1,00,000 maximum if both taxpayer and parents are 60+
Eligible Premiums
- Health insurance (including top-up & critical illness plans)
- Preventive health check-up up to ₹5,000
- Medical expenditure for senior citizens with no insurance
This guide reflects FY 2025-26 (AY 2026-27) and is for general information. Tax rules and limits change, and how they apply depends on your circumstances. It is not professional tax advice; consult a qualified Chartered Accountant before acting.
