Question 1

What is the maximum deduction under Section 80D?

Accepted Answer

The maximum deduction under Section 80D depends on age. For self/family below 60: ₹25,000. For self/family aged 60+: ₹50,000. For parents below 60: additional ₹25,000. For parents aged 60+: additional ₹50,000. The maximum possible deduction is ₹1,00,000 if both self and parents are senior citizens. Preventive health checkup of up to ₹5,000 is included within the self/family limit.

Question 2

Is Section 80D available under the new tax regime?

Accepted Answer

No, Section 80D deduction for health insurance premiums is not available under the new tax regime. It is only applicable under the old tax regime. If you have significant health insurance premiums for yourself and parents, factor this into your decision when choosing between old and new regimes.

Question 3

Does preventive health checkup qualify for separate deduction?

Accepted Answer

Preventive health checkup expenses up to ₹5,000 per year qualify for deduction under Section 80D. However, this amount is included within the overall self/family limit (₹25,000 or ₹50,000), not in addition to it. Any family member can claim this deduction, and it can be paid by cash (unlike insurance premiums which must be non-cash).

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