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of <h1>Claim Deductions for Medical Insurance Premiums u/s 80D: Up to 29,000 for Senior Citizen Parents.</h1> An individual taxpayer paying medical insurance premiums through non-cash means can claim deductions under Section 80D of the Income Tax Act. For premiums paid for personal, spouse, and dependent children's health insurance, a deduction of 12,000 is allowed. Additionally, for premiums paid for parents' health insurance, a deduction of 17,000 is available. The total deduction is 27,000 if neither parent is a senior citizen. If any parent is a senior citizen, the deduction increases to 29,000.
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