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What is the limit for claiming a deduction under Section 80D for health insuranc

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Question: What is the limit for claiming a deduction under Section 80D for health insurance premium for a family including parents?

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 limit for claiming a deduction under Section 80D for health insurance premium for a family including parents is Rs. 50,000.

What is the limit for claiming a deduction under Section 80D for health insuranc

Practice Questions

Q1
What is the limit for claiming a deduction under Section 80D for health insurance premium for a family including parents?
  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 limit for claiming a deduction under Section 80D for health insurance premium for a family including parents?
  • 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 who can be included in the family for this deduction: yourself, your spouse, and your children.
  • Step 4: Include your parents in the deduction if they are also covered by the health insurance policy.
  • Step 5: The total limit for claiming a deduction under Section 80D for health insurance premiums for your family and parents is Rs. 50,000.
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