I am paying the health insurance premiums on a policy for my parents and claiming the tax benefits. Can I claim a similar tax deduction by paying premiums for my in-laws?
Tax deductions on payments towards health insurance can be claimed under Section 80D of the Income Tax Act
I am paying the health insurance premiums on a policy for my parents and claiming the tax benefits. Can I claim a similar tax deduction by paying premiums for my in-laws?
Shivaprasad Kannan, Chennai
Tax deductions on payments towards health insurance can be claimed under Section 80D of the Income Tax Act. This deduction is available on premiums paid towards policies for self, spouse and dependent children. However, it does not extend to a health policy for the in-laws. You could consider asking your spouse to pay for premiums on this policy, which insures their parents to claim the tax deduction.