Question

Assessment year 2021-22, an individual taxpayer can claim deduction of up to
members and his parents are 60 years or above.
under Section 80D of the Income Tax Act, 1961, if he or his family
Rs. 50000
O Rs. 100000
O Rs. 60000
None of the above​

Answer 1

Answer:

Section 80D of the Income Tax Act provides tax deductions for medical expenditure made for the self and the family which can go up to Rs.50,000. Self, spouse, children, parents, and Hindu Undivided Families (HUF) can claim this.

The Section 80D of the Income Tax Act, 1961 deals with tax deductions on medical insurance. This section allows you to receive tax deductions on premiums made for medical insurance for yourself and on behalf of your family. The Section 80D offers deductions over and above the exemptions derived from the more popular Section 80C.