Which of the following deductions is available under Section 80D?

Which of the following deductions is available under Section 80D?

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 premiums paid on health insurance.
Step 2: Identify the type of expenses that qualify for deductions under Section 80D. These include premiums paid for medical insurance for yourself, your spouse, children, and parents.
Step 3: Check if the premium is paid in cash or through other modes. Deductions are generally available for payments made through banking channels.
Step 4: Remember that there are limits on the amount you can claim as a deduction under Section 80D based on the age of the insured individuals.
Step 5: Conclude that medical insurance premium is eligible for deduction under Section 80D.

No concepts available.