Health insurance deduction limit increased and lump sum premiums may be apportioned across coverage years for deduction entitlement. The amendment raises the aggregate deduction under section 80D for senior citizens covering medical insurance, preventive health check-ups and medical expenditure, and removes a proviso distinction for very senior citizens. It introduces apportionment for lump-sum premiums paid for multi-year health insurance by allowing a deduction each relevant previous year equal to the appropriate fraction of the amount, defining appropriate fraction and relevant previous year for that purpose.
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Provisions expressly mentioned in the judgment/order text.
Health insurance deduction limit increased and lump sum premiums may be apportioned across coverage years for deduction entitlement.
The amendment raises the aggregate deduction under section 80D for senior citizens covering medical insurance, preventive health check-ups and medical expenditure, and removes a proviso distinction for very senior citizens. It introduces apportionment for lump-sum premiums paid for multi-year health insurance by allowing a deduction each relevant previous year equal to the appropriate fraction of the amount, defining appropriate fraction and relevant previous year for that purpose.
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