✳️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)
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🩺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)
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Do 'Retweet'
🔹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
• 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)
- 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.
• 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. 5,000 per annum.
• The deduction is available only for Preventive Health Check-ups and NOT for diagnostic tests or treatment.
• The deduction is available only for Preventive Health Check-ups and NOT for diagnostic tests or treatment.
🔹Deduction for Medical Treatment of Specified Illness (Section 80DDB)
• Under Section 80DDB, individuals can claim a Deduction for expenses incurred on the treatment of Specified Diseases or Ailments for:
- Self
- Spouse
- Dependent children, and
- Parents.
• Under Section 80DDB, individuals can claim a Deduction for expenses incurred on the treatment of Specified Diseases or Ailments for:
- Self
- Spouse
- Dependent children, and
- Parents.
• The maximum deduction allowed is
- Rs. 1,00,000 for senior citizens, and
- Rs. 40,000 for others.
• Specified Diseases include -
- Neurological Disorders
- Cancers
- Chronic Renal Failure
- Hematological Disorders
- AIDS
- Rs. 1,00,000 for senior citizens, and
- Rs. 40,000 for others.
• Specified Diseases include -
- Neurological Disorders
- Cancers
- Chronic Renal Failure
- Hematological Disorders
- AIDS
🔹Deduction for Disability (Section 80U)
- Under Section 80U, individuals with disabilities can claim a deduction of up to Rs. 1.25 lakh for the expenses incurred on their medical treatment, maintenance, and rehabilitation.
- Under Section 80U, individuals with disabilities can claim a deduction of up to Rs. 1.25 lakh for the expenses incurred on their medical treatment, maintenance, and rehabilitation.
• The deduction amount depends on the severity of the disability.
- Rs. 75,000 for 40% - 80% disability
- Rs. 1,25,000 for more than 80% disability
- Rs. 75,000 for 40% - 80% disability
- Rs. 1,25,000 for more than 80% disability
🔹Deduction for Rehabilitation of Handicapped Dependent (Section 80DD)
• Under Section 80DD, individuals can claim a deduction for the expenses incurred on the rehabilitation of their dependent relatives who are disabled.
• Under Section 80DD, individuals can claim a deduction for the expenses incurred on the rehabilitation of their dependent relatives who are disabled.
• The deduction amount depends on the severity of the disability.
- Rs. 75,000 for 40% - 80% disability
- Rs. 1,25,000 for more than 80% disability
- Rs. 75,000 for 40% - 80% disability
- Rs. 1,25,000 for more than 80% disability
That's a wrap!!
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