Health insurance deductions cover eligible premiums and senior citizens' medical expenditure, subject to separate limits and insurance conditions.

Section 126 provides deductions to individuals and Hindu Undivided Families for eligible health insurance premiums and medical expenditure, subject to prescribed conditions and limits. For an individual, the combined deduction for insurance and medical expenditure cannot exceed Rs.50,000 for self and family and Rs.50,000 for parents. The combined HUF deduction cannot exceed Rs.50,000. Medical expenditure for a senior citizen is deductible only where no amount has been paid to effect or maintain health insurance for that person. Preventive health check-ups are subject to an aggregate limit of Rs.5,000 within the applicable overall limits.

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