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of <h1>Tax Deduction Available for Medical Insurance Premiums u/s 80D for Self, Spouse, Children, and Parents.</h1> An individual is eligible to claim a deduction under Section 80D of the Income Tax Act for premiums paid towards medical insurance for themselves, their spouse, dependent children, and parents. This provision allows taxpayers to reduce their taxable income by the amount spent on health insurance premiums for these family members, thereby offering financial relief and encouraging investment in health coverage.
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