About Section 80D

Investments made towards the payment of health insurance premiums qualify for the tax deduction under section 80D.

The deduction is valid for people less than 65 years of age, on the amount of premium charged for health insurance or Rs.15,000, whichever is less.

The deduction is valid for senior citizens over 65 years of age on the premium charged for health insurance or Rs.20,000, whichever is less.

For the purchase of health insurance for your parents, a further deduction of Rs.15,000 may be sought and of Rs.20,000 if one of your parents is a senior citizen. Regardless of whether they depend on you or not.