Chartered Accountant · ICAI M.No. 153926 · FRN 136869W
The limits
₹25,000 for self/spouse/children, plus ₹25,000 for parents (₹50,000 if a parent is a senior citizen). Preventive check-up up to ₹5,000 is included within the cap.
Old regime only
Like 80C, it applies only under the old regime. Confirm current limits.
Beyond the premium, and senior-citizen specifics
Section 80D is more flexible than just two premium limits. The ₹25,000 for self, spouse and children, and the additional amount for parents, can be claimed for parents whether or not they’re dependent. When a parent is a senior citizen (60 or above), their limit rises to ₹50,000, so a person below 60 insuring senior-citizen parents can claim up to ₹25,000 plus ₹50,000, and if the taxpayer is also a senior citizen the self limit too rises to ₹50,000. For very senior citizens with no health policy, actual medical expenditure can be claimed within the ₹50,000 limit. The preventive health check-up of up to ₹5,000 sits inside these caps, not in addition to them, and is the one part that can be paid in cash; all other premiums must be paid by a non-cash mode to qualify. Multi-year policies paid in a lump sum can be spread proportionately over the years of cover. Like 80C, it’s available only under the old regime. Matching the right limit to your and your parents’ ages, and keeping the premium receipts, is what lets you claim the full amount. Confirm the current limits per the Finance Act.