Deduction in respect of medical insurance premia

If the amount specified in a sub-section was paid by the assessee by check in the prior year out of his income subject to tax and did not exceed the aggregate 2,600 rupees, the entire amount shall be subtracted from the assessee's total income, and in all other cases, 3,600 rupees shall be subtracted.

The amount mentioned in the aforementioned subsection shall be as follows:-

(a) any amount paid to effect or maintain insurance just on the health of the assessee, his or her wife, spouse, dependent parents, or dependent children where the taxpayer is an individual.

(b) Whenever a Hindu undivided family is an assessee, any amount paid to establish or maintain health insurance on any family member is taxable.

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If an assessee, who is a resident of India and is either an individual or a Hindu undivided family, spent money from their income that was taxable during the previous year on the care of someone who:-

(a) is a participant of the Hindu undivided family, a relative of the individual, or, as the case may be, both, and is not reliant on anyone other than the individual or the Hindu undivided family for sustenance or maintenance, and

(b) is afflicted with a physical or mental condition that a licenced medical professional has determined would significantly impair their ability to engage in gainful employment or perform routine work (hereafter in this section referred to as handicapped dependent),

then, the assessee shall be permitted a deduction of the amount indicated in the aforementioned sub-section in the computation of his total income with regard to the preceding year, in line with and subject to the rules of this section.

If the disabled dependent was admitted to a hospital, nursing home, medical facility, or other institution that the Central Government may have designated in the Official Gazette as an institution for the care of handicapped persons for a period of at least one hundred eighty-two days during the previous year, and fees and charges for his medical care (including nursing home care), those expenses are subject to deduction under the aforementioned sub-section. As long as the insurance is provided in accordance with a plan that has been developed and approved by the Central Government in this regard by the General Insurance Corporation of India, which was established under Section 9 of the General Insurance Business (Nationalization) Act, 1972 (57 of 1972). Click here at 80g exemption to gain more knowledge.