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Medical insurance premium paid offers tax benefits under section 80d of the income tax act. Insurance premiums are generally low when you buy policies at a young age. Pin by FEDERICO VARGAS on Alexandra Daddario Beautiful 80d tax exemption tax rebate for self, family, senior citizens, very senior citizens.tax benefit limit raised revised budget 2018. Medical insurance premium 80d . While medical allowance received from the employer is exempted up to rs. Section 80d of the income tax act allows a deduction to an individual or huf for the amount paid towards medical insurance premium, medical expenditure, and preventive health checkup. Medical insurance premium paid for self, spouse, children and dependents parents is allowed as exemption. What would be the maximum amount he can claim by way of a deduction under section 80d? Primarily, budget 2018 is focused on taking care of senior citizens, women, and. Examples of medical insurance premiums & section 80d tax benefits.