Deduction in respect of health insurance premia.

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....by any mode as specified in sub-section (9), out of his income chargeable to tax in the tax year. (2) In the case of an assessee, being individual, the sum referred to in sub-section (1), shall be the aggregate of the whole of the amount paid- (a) to effect or keep in force an insurance on the health (herein referred to as health insurance) of the assessee or his family, or any contrib....

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....t of amounts referred to in sub-section (2)(a) or (2)(b), which are paid on account of preventive health check-up, shall be allowed up to five thousand rupees in aggregate. (4) The amount of sum referred to in sub-section (2) shall not exceed fifty thousand rupees in aggregate of the sum specified under sub-sections 2(a) and 2(c) or aggregate of the sum specified under sub-sections 2(b) and 2(d....

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....)(b), deduction shall be allowed, if no amount has been paid to effect or to keep in force the health insurance of such person. (8) Where the sum specified in sub-section (2)(a) or (b) or (5)(a) is paid to effect or keep in force the health insurance of any person specified therein, and- (a) such person is a senior citizen, the amount of sum as provided in such clauses, shall be substi....

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.... (c) "relevant tax year" means the tax year beginning with the tax year in which such lump sum amount is paid and the subsequent tax year or years during which the health insurance remains in force. (11) The health insurance referred to in this section shall be as per the scheme made in this behalf by- (a) the General Insurance Corporation of India formed under section 9 of the Gener....