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Detailed explanation-1: -The deduction allowed under Section 80Dm is Rs 25, 000 in a financial year. In the case of senior citizens, the deduction limit allowed is Rs 50, 000. Individual: An individual can claim a deduction of up to Rs 25, 000 for the insurance of self, spouse, and dependent children.

Detailed explanation-2: -As per Section 80D, you can claim tax deductions of up to Rs 50, 000 on the money spent on your preventive health check-ups, health insurance policy premium, medical expenditure for you and your family members, and the Central Government Health Scheme (CGHS) if you are a senior citizen.

Detailed explanation-3: -For a person aged below 60 years, the limit for deduction under Section 80D is upto ‘25, 000. The limit of ‘25, 000 includes ‘5, 000 on preventive health checkup. If the age of the insured is above 60 years, the limit for deduction increases upto ‘50, 000.

Detailed explanation-4: -Section 80D Deduction Limit As per Section 80D terms, you are eligible for: Tax deduction of Rs.32, 000 on Rs.32, 000 paid as health insurance premium for you and your dependents. Tax deduction of Rs.35, 000 for your parents (senior citizens) out of the overall payment of Rs.35, 000.

Detailed explanation-5: -You are eligible to claim a tax deduction under Section 80D for yourself, your spouse, your kids, and your parents. In addition, as mentioned above, even HUFs are eligible to claim a deduction in this section.