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What is the maximum limit of deduction under Section 80D for health insurance fo

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Question: What is the maximum limit of deduction under Section 80D for health insurance for a senior citizen?

Options:

  1. Rs. 25,000
  2. Rs. 50,000
  3. Rs. 75,000
  4. Rs. 1,00,000

Correct Answer: Rs. 50,000

Solution: 

The maximum limit of deduction under Section 80D for health insurance for a senior citizen is Rs. 50,000.

What is the maximum limit of deduction under Section 80D for health insurance fo

Practice Questions

Q1
What is the maximum limit of deduction under Section 80D for health insurance for a senior citizen?
  1. Rs. 25,000
  2. Rs. 50,000
  3. Rs. 75,000
  4. Rs. 1,00,000

Questions & Step-by-Step Solutions

What is the maximum limit of deduction under Section 80D for health insurance for a senior citizen?
  • Step 1: Understand what Section 80D is. It is a part of the Income Tax Act in India that allows taxpayers to claim deductions for health insurance premiums.
  • Step 2: Identify who is considered a senior citizen. In India, a senior citizen is someone who is 60 years old or older.
  • Step 3: Know the maximum limit of deduction for health insurance premiums. For senior citizens, this limit is Rs. 50,000.
  • Step 4: Remember that this deduction can be claimed for premiums paid for health insurance for oneself, spouse, children, and parents.
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