Under the existing provisions contained in section 80D of the Income-tax Act, a deduction is allowed in respect of premium paid towards a health insurance policy for insurance of self, spouse and dependent children or any contribution made to the Central Government Health Scheme, up to a maximum of Rs.15,000 in aggregate. A further deduction of Rs.15,000 is also allowed for buying a health insurance policy in respect of parents.
This section has been amended from financial year 2012-13 to also include any payment made by an assessee on account of preventive health check-up of self, spouse, dependent children or parents(s) during the previous year as eligible for deduction within the overall limits prescribed in the section. However, the deduction on account of expenditure on preventive health check-up (for self, spouse, dependent children and parents) shall not exceed in the aggregate Rs.5,000.
It is further amended that for the purpose of the deduction under section 80D, payment can be made –
(i) by any mode, including cash, in respect of any sum paid on account of preventive health check-up and
(ii) by any mode other than cash, in all other cases.
These amendments will take effect from 1st April, 2013 and will, accordingly, apply in relation to the assessment year 2013-14 and subsequent assessment years.
So if you have incurred any expenses for Health test for
- Dependent children
- dependent parents
Then you can claim deduction u/s 80D up to Rs 5000/-
- This deduction can be claimed even amount has been paid in cash .
- This deduction is included in overall limit of 15000/- of section 80D for health insurance and if you have already used this limit for health insurance then you can not claim deduction for preventive health check up.
If any query then please add in comment section.
Nature of Deduction
Amount of deduction
Limit on Deduction u/s.80C, 80CCC & 80CCD
Life Insurance Premia, PF, PPF, NSC, ELSS, Units of Mutual Fund referred to u/s.10(23D), Tuition Fees(max. 2 Children), Repayment of Principal of Housing loan, Bank Fixed Deposit of 5 yrs period, notified Bonds of NABARD, Deposit in an account under Senior Citizens Savings Scheme rules, 5 year time deposit in an account under Post Office Time Deposit Rules, 1981 etc.
Premium paid towards approved Pension Fund (like LIC’s Jeevan Suraksha) max. 1 lakh.
Contribution to Central Government Pension Schemes. Upto 10% of salary with matching contribution from Government.
allowed u/s. 80C,
80CCC & sub-
section (1) of
is Rs. 1,00,000(READ who's name savings can be done u/s 80C)
Deduction in respect of investment made under an equity savings scheme(only for Resident Individual) (subject to conditions)
50% of the amount invested subject to a maximum of Rs.25,000
(a) Health Insurance Premium paid by an individual/HUF by any mode of payment other than cash to effect or keep in force an insurance on the health of the assessee(self) or his family(spouse & dependent children) for policies taken from General Insurance Corporation /other approved Insurance Regulatory and Development Authority or any contribution made to the Central Government Health Scheme or any payment made on account of preventive health check-up subject to a maximum of Rs.5,000.
(b) Medical Insurance Premium paid by an individual/HUF by any mode of payment other than cash to effect or keep in force an insurance on the health of his/her parent or parents for policies taken from General Insurance Corporation /other approved Insurance Regulatory and Development Authority or any contribution made to the Central Government Health Scheme or any payment made on account of preventive health check-up subject to a maximum of Rs.5,000.
(c) For Senior Citizens in respect of (a) & (b) above
Preventive health check up
up to 5000/- included in above limit.
(a) Any expenditure for Medical, Nursing & Rehabilitation incurred on dependant suffering from permanent disability including blindness, mental retardation, autism, cerebral palsy or multiple disabilities
(b) Deposits under LIC, UTI’s Scheme & other IRDA approved insurers for the benefit of physically handicapped dependent
Rs.50,000 (Rs.1,00,000 if the disability is severe exceeding 80%)
(a) Actual expenditure incurred on Medical treatment of Self or dependant or a member of HUF suffering from terminal diseases like Cancer, AIDS, Renal failure etc.
(b) For Senior Citizens(self or dependent on whom expenditure on medical treatment is taken)
Interest on loan taken from Financial/Charitable Institutions for Self/Spouse/Children for pursuing Higher Education (for a max. period of 8 yrs)
Actual Interest repaid
(a) Donations made to National Defence Fund, Prime Minister’s Relief Fund, approved Funds of reputed Educational Institutions, National Trust for Welfare of persons with Autism, Cerebral Palsy etc.
(b) Donations made to Jawaharlal Memorial Fund, PM’s Drought Relief fund, Any approved Charitable Institution/Trust, Religious Institutions, a corporation established by the Government for promoting interest of the members of a Minority Community
100% of Donation
50% of Donation restricted to 10% of Adjusted Gross Total Income
Deduction in respect of rents paid, provided the assessee is not in receipt of HRA and no house is owned by self, spouse, minor child or HUF in the place of work subject to filing of declaration in Form No.10BA
25% of income
or rent paid in excess of 10% of income
or ceiling of Rs.24,000 p.a whichever is less
Deduction in respect in interest on deposits(not being time deposits) in a savings account with a banking company, a co-operative society and a post office
Persons certified by the medical authority to be a person with disability
Rs.50,000 (Rs.1,00,000 in case of severe disability)
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