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What is the maximum limit for deduction under Section 80D for health insurance p
What is the maximum limit for deduction under Section 80D for health insurance premiums for a family?
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Practice Questions
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Q1
What is the maximum limit for deduction under Section 80D for health insurance premiums for a family?
Rs. 25,000
Rs. 50,000
Rs. 1,00,000
Rs. 15,000
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The maximum limit for deduction under Section 80D for health insurance premiums for a family is Rs. 50,000.
Questions & Step-by-step Solutions
1 item
Q
Q: What is the maximum limit for deduction under Section 80D for health insurance premiums for a family?
Solution:
The maximum limit for deduction under Section 80D for health insurance premiums for a family is Rs. 50,000.
Steps: 5
Show Steps
Step 1: Understand that Section 80D is a part of the Income Tax Act in India.
Step 2: Know that this section allows you to claim deductions for health insurance premiums.
Step 3: Identify that the deduction is available for premiums paid for yourself, your spouse, children, and parents.
Step 4: Check the maximum limit for the deduction for a family, which is Rs. 50,000.
Step 5: Remember that this limit applies if you are paying for health insurance for your family.
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