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What is the maximum amount of deduction available under Section 80D for health i

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Question: What is the maximum amount of deduction available under Section 80D for health insurance premiums for senior citizens?

Options:

  1. Rs. 25,000
  2. Rs. 50,000
  3. Rs. 30,000
  4. Rs. 40,000

Correct Answer: Rs. 50,000

Solution: 

The maximum deduction available under Section 80D for health insurance premiums for senior citizens is Rs. 50,000.

What is the maximum amount of deduction available under Section 80D for health i

Practice Questions

Q1
What is the maximum amount of deduction available under Section 80D for health insurance premiums for senior citizens?
  1. Rs. 25,000
  2. Rs. 50,000
  3. Rs. 30,000
  4. Rs. 40,000

Questions & Step-by-Step Solutions

What is the maximum amount of deduction available under Section 80D for health insurance premiums for senior citizens?
  • Step 1: Understand that Section 80D is a part of the Income Tax Act in India that allows deductions for health insurance premiums.
  • Step 2: Identify who qualifies as a senior citizen. In India, a senior citizen is someone who is 60 years old or older.
  • Step 3: Know that the maximum deduction for health insurance premiums for senior citizens is Rs. 50,000.
  • Step 4: Remember that this deduction applies to premiums paid for health insurance for themselves, their spouse, children, and parents.
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