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    Question

    What is the limit amount for deduction in respect of

    Medical/Health Insurance Premium under Section 80D of the Income Tax Act, 1961?
    A тВ╣10,000 for individuals below 60 years of age and тВ╣15,000 for senior citizens. Correct Answer Incorrect Answer
    B тВ╣15,000 for individuals below 60 years of age and тВ╣20,000 for senior citizens. Correct Answer Incorrect Answer
    C тВ╣20,000 for individuals below 60 years of age and тВ╣30,000 for senior citizens. Correct Answer Incorrect Answer
    D тВ╣25,000 for individuals below 60 years of age and тВ╣50,000 for senior citizens. Correct Answer Incorrect Answer

    Solution

    Explanation: Under Section 80D, the deduction limit for Medical/Health Insurance Premium is тВ╣25,000 for individuals below 60 years of age and тВ╣50,000 for senior citizens.

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