5.5.6 Deduction in respect of for health insurance premia paid, etc. (Section 80D)
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Sl. No.
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Persons for whom payment made
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Nature of payment
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Mode of payment
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Allowable Deduction (in Rs.)
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1
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Employee or his family
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โฆ the whole of the amount paid to effect
or to keep in force an insurance on the health of the employee or his family or
โฆ any contribution made to theCGHS
or
โฆ any payment on account of preventive
health check-up of the employee or family, [restricted to Rs. 5000/-; cash payment allowed here] |
any mode other than cash
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Aggregate allowable is Rs. 15,000/{For Senior Citizens it
is Rs. 20000/-}. |
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2
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Parent or Parents of employee
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โฆ the whole of the amount paid to effect
or keep in force an insurance on the health of the parent or parents of the employee or
โฆ any payment made on account of
preventive health check-up of the parent or parents of the employee [restricted to Rs. 5000/-; cash payment allowed here] |
any mode other than cash
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Aggregate allowable is Rs. 15,000/ than {For Senior
cash Citizens it is Rs. 20000/-} |
Here
(i) “family” means the spouse and dependent children of the employee.
(ii) Senior citizen” means an individual resident in India who is of the age of sixty years {For AY 2013-14 onwards] or more at any time during the relevant previous year.
(a) the General Insurance Corporation of India formed under section 9 of the General Insurance Business (Nationalization) Act, 1972 (57 of 1972) and approved by the Central Government in this behalf; or
(b) any other insurer and approved by the Insurance Regulatory and Development Authority established under sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999(41 of 1999).
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