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Thread: Tax exemption for health insurance

  1. #1
    PolicyWala NewBie
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    Default Tax exemption for health insurance

    Whats the max amount of tax exemption, I would get for paying the premium of my parents health insurance?




  2. #2
    Moderator Taxman's Avatar
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    If any of your parent is a senior citizen, deduction you would get under Section 80D is Actual premium paid Rs.17,000 or Rs.20,000 whichever is less.
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  3. #3
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    Thanks Taxman! One more query if I take family floater policy with my parents or two policies one for my self and one for my parents; Which one of these is cheapest?

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    Moderator Taxman's Avatar
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    Quote Originally Posted by TarunVir View Post
    Thanks Taxman! One more query if I take family floater policy with my parents or two policies one for my self and one for my parents; Which one of these is cheapest?
    If you take two policies one for yourself and one for your parents - It will be cheaper than other option.
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