Can we claim 80d and 80ddb together?

Posted on: Oct 31, 2023 | | Written by:

Can we claim 80d and 80ddb together?

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

Can we claim 80d and 80ddb together?

Health insurance is probably one of the most important investments you can make for yourself and your loved ones. It offers financial assistance during medical emergencies and helps you opt for the finest treatment without worrying about the bills. A healthcare plan offers wide coverage and can make things easier for you and your family. Moreover, you can also claim income tax deductions under different sections of the Income Tax Act and save good money.

Talking about deductions, Sections 80D and 80DDB of the Income Tax Act allow tax deductions to policyholders on policy premiums and specified medical expenses. However, can we claim 80D and 80DDB together? This is a question that most of us have in our mind. Let’s get a definite answer for the same.

According to Section 80D of the Income Tax Act, 1961, policyholders can enjoy annual tax deductions of up to INR 25,000 or INR 50,000 (for senior citizens) on the premiums they pay towards their health insurance policy.

Section 80DDB of the Income Tax Act allows deductions of up to INR 40,000 or INR 1 lakh (for senior citizens) on the medical expenses incurred by policyholders while availing treatment for specified ailments and diseases. These deductions are also applicable for medical expenses incurred for spouse, children and other dependent family members of the insured.

So, Can We Claim Income Tax Deductions Under Sections 80d And 80ddb Simultaneously.

Yes, you can claim income tax deductions under Section 80D and 80DDB simultaneously. While Section 80D offers deductions on health insurance premiums, Section 80DDB offers tax deductions on the expenses incurred for treating specified diseases and ailments. Since both these things are different, you can claim deductions on both together.

Filing Taxes With Both Deductions

The deductions under Section 80D and Section 80DDB of the Income Tax Act can help you save considerable money on your policy premiums and specified medical treatments annually. Since you can claim both these deductions simultaneously, remember to make good use of these while calculating your taxable income.

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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