My Health Insurance

• You cannot claim tax benefit on health insurance premium paid for your in-laws.
• Proof of payment of premium has to be furnished, in order to avail the tax benefit.
• Except cash, any mode of payment is acceptable for claiming tax benefit.
• The health insurance premium must be paid from your taable income of that year only if you want to claim a deduction.

The health insurance premium that you pay for yourself, your dependents (spuse and children) and your parents, are all considered for tax benefit under Section 80D of the Income Tax Act 1961.

*Tax benefits are subject to changes in tax laws.