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Vivek

Vivek Lala |57 Answers |Ask -Follow

Tax Expert - Answered on Mar 16, 2023

Question by Ravi on Mar 09, 2023

Money

Hai, I am retired from State Govt. PSU during Oct.22. I have taken a medical insurance for me & my wife at a premium of Rs.38000/- during Feb. 2023. Can I claim deduction in the forthcoming ITR during this year and what is the amount?

Ans: yes you can claim the entire amount if you are above the age of 60yrs.

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Kindly let me know if a senior citizen can claim deduction of Rs 50,000/U/S 80L towards domiciliary medical treatment expenses while filing his ITR for AY 2021- 2022. Shall be grateful for an early reply on the above matter.

Ans: You can claim deduction under Section 80D and not 80L.

Yes, senior citizens aged 60 years or more can claim exemption under Section 80D for medical expenses, if you do not have health insurance coverage.

You can claim maximum deduction of Rs 50,000 in a financial year for the expenses incurred as per the limit of Section 80D.

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