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Can medical bills be claimed under 80D?

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Published on October 26, 2023. EST READ TIME: 3 minutes

Can medical bills be claimed under 80D?

In today’s times, when healthcare costs are increasing by the day, keeping an adequate health insurance policy handy can save you from sudden expenses and financial woes. A health plan can cover your hospital bills and other associated expenses and ease your financial burden. You can also claim tax deductions under different sections of the Income Tax Act and save more.

When it comes to tax deductions, Section 80D of the Income Tax Act of 1961 offers annual deductions on health insurance premiums and preventive health check-up bills.

Let’s delve deeper to answer the question, “Can medical bills be claimed under 80D of the Income Tax Act?” Section 80D of the Income Tax Act, 1961, allows tax deductions of up to INR 25,000 on premiums paid for individual and family health insurance policies. Senior citizens or people over 60 years can claim tax deductions of up to INR 50,000 on health insurance premiums. So, if you are paying health insurance premiums for yourself and your parents, who are senior citizens, you can claim total tax deductions of up to INR 75,000 annually.

In addition, you can also claim deductions on preventive health check-up bills and healthcare expenses incurred on senior citizens who are not covered under health insurance. However, the total deductions on policy premiums and preventive health check-ups cannot exceed INR 25,000 for self and family (all below 60 years of age) and INR 50,000 for senior citizens.

Under Section 80D of the Income Tax Act, an individual taxpayer or HUF can claim a tax deduction on expenditure incurred on preventive health check-ups. Therefore, you can submit the medical bills and claim a deduction of up to INR 5,000 annually

You can claim tax deductions on the payments made for preventive health check-ups every financial year. However, you must submit the original bills and receipts to claim a deduction. You can also claim tax deductions on the money spent on preventive health check-ups of your immediate family members, even if they are not covered under health insurance.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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