Health insurance deduction: limits for premiums and medical expenses, higher allowance for senior citizens and preventive check-ups. Individuals and Hindu undivided families may deduct specified sums for health insurance premiums and certain medical expenditures, including preventive ... Summary
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Health insurance deduction: limits for premiums and medical expenses, higher allowance for senior citizens and preventive check-ups.
Individuals and Hindu undivided families may deduct specified sums for health insurance premiums and certain medical expenditures, including preventive health check-ups, subject to different ceilings and higher allowances where the insured is a senior citizen; lump-sum premium payments are apportioned over relevant years, qualifying payments must follow prescribed modes, and insurance must be under approved schemes or insurers.
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