Health insurance premium deduction limited to non-cash payments with higher ceilings for senior citizens and approved insurers.

Deduction for health insurance premia allows individuals and Hindu undivided families to deduct, where payment is made other than by cash, the aggregate amounts paid for health insurance for the assessee and family, for parents, or for any HUF member subject to statutory ceilings; higher ceilings apply where the insured is a senior citizen, and the insurance must be under a scheme approved by the General Insurance Corporation or an insurer approved by the Insurance Regulatory and Development Authority.

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