Deductions available to senior citizens in respect of health insurance premium and medical treatment :
Section 80D, inter-alia, provides that a deduction upto Rs 30,000 to an assessee, being an individual or a Hindu
undivided family, in respect of payments towards annual premium on health insurance policy, or preventive health check-up, of a senior citizen, or medical expenditure in respect of very senior citizen.
Proposed amendment: Section 80D proposed to be amended to increase such limit of deduction from
Rs. 30,000 to Rs. 50,000 for resident senior citizens, who is of the age of 60 years or more during the previous
year.
Senior citizens not covered by insurance can claim reimbursement of medical expenditure upto Rs. 50,000. Earlier this benefit was available only for very senior Further, in case of single premium health insurance policies to effect or to keep in force an insurance on the health for more than a year, it is proposed that the deduction shall be allowed on proportionate basis for the number of years for which health insurance cover is provided, subject to the specified monetary limit.