Do You Need Proof for Mediclaim Insurance 80D?

The health care facility in India remains widely expensive. With ever-increasing instances of illness, health insurance has grown to much required financial backup at the time of medical distress. There are various benefits of health insurance, including income tax privileges. Payments made towards the premium of health insurance are qualified for tax deductions under Section 80D of the Indian Income Tax Act, 1961.

However, there are several conditions you must meet to claim mediclaim insurance 80D. In this blog, let’s answer the question that many policyholders ask: ‘Do you need proof for an 80D claim?’

સેક્શન 80D શું છે?

Every individual or those who belong to HUF (Hindu Undivided Family) who have purchased a health insurance policy for themselves and their family can claim tax deductions under Section 80D of up to ₹ 25,000. An increased deduction introduced by the Indian Income Tax Act of ₹ 50,000 and a maximum of ₹1 lakh if the parents of the primary policyholder are senior citizens aged 60 years and above, and a maximum of ₹ 40,000 for citizens less than 60 years.

શું 80D માટે પુરાવો જરૂરી છે?

80D હેઠળ કપાત મેળવવા માટે કોઈ પુરાવા કે ડૉક્યૂમેન્ટની જરૂર નથી.

સેક્શન 80D હેઠળ ટૅક્સ કપાતની પરવાનગી છે

1. Premium paid for self and family—₹25,000 — and parents (below 60 years old)—₹25,000; the deduction under Section 80D will be ₹50,000.

2. Premium paid for self and family—₹25,000 — and parents (above 60 years old)—₹50,000; the deduction under Section 80D will be ₹75,000.

3. Premium paid for self, family (above 60 years)— ₹50,000 and parents (above 60 years old)— ₹50,000, the deduction under Section 80D will be ₹1,00,000.

4. For Hindu Undivided Family (HUF)—Premium paid for self, family—₹25,000, and parents— ₹25,000, the deduction under Section 80D will be ₹25,000.

5. For Non-Resident Individuals—Premium paid for self, family—₹25,000, and parents— ₹25,000, the deduction under Section 80D will be ₹25,000.

આ પણ વાંચો: હેલ્થ ઇન્શ્યોરન્સના લાભો

શું 80D હેઠળ મેડિકલ ખર્ચ ક્લેઇમ કરી શકાય છે?

Yes. Under section 80D, it allows the policyholder to save tax by claiming medical insurance incurred on self, spouse, dependent parents as a deduction from income before paying the taxes. The person's age should be 60 years or above to be eligible to claim the medical expenses.

Also, the person should not have any health insurance policy. One can claim a maximum deduction of ₹ 50,000 in a financial year. To claim the deduction, all medical expenses must be paid through a valid payment mode, such as net banking or digital channels, but not in cash.

આ પણ વાંચો - Section 80DD Income Tax Deduction: All You Need to Know About

Before you claim your tax deductions, make sure to protect yourself and your family with Bajaj General Insurance’s comprehensive health insurance policy (My Healthcare Policy). Get a quote today!

How Does 80D Tax Benefit Work in Real Life?

Let us look at a practical example to understand how mediclaim insurance 80D works better. Suppose Rahul is 35 years old. He buys a family health insurance policy and pays an annual premium of ₹22,000. He also buys a separate policy for his 65-year-old father, paying a premium of ₹45,000.

Rahul can claim his entire ₹22,000 premium because it falls under his ₹25,000 limit. For his father, he can claim the full ₹45,000, since senior citizens have a higher cap of ₹50,000. Therefore, Rahul reduces his taxable income by ₹67,000.

This deduction directly lowers his tax liability and helps him maximise his savings. He simply needs to pay the premiums digitally to qualify.

How to Claim Tax Benefits Under Section 80D?

Claiming your mediclaim insurance 80D during your Income Tax Return (ITR) filing requires careful preparation. You must accurately declare your health insurance premiums and preventive health check-up costs to maximise your savings. Always pay your insurance premiums via digital modes or cheques, as the tax department rejects cash payments for policies. Here are the steps you can follow:

Step 1: Gather Your Documents

Collect your health insurance policy documents, premium payment receipts and bank statements.

Step 2: Log In to the Tax Portal

Visit the official Income Tax website and log in using your PAN and password credentials.

Step 3: Select Your ITR Form

Choose the correct Income Tax Return form for your profile, such as ITR-1 Sahaj for salaried individuals or ITR-4 Sugam for business owners.

Step 4: Navigate to Schedule 80D

Go to the Gross Total Income tab and click on Tax Deductions. Open Schedule 80D to start entering your health insurance details.

Step 5: Enter Your Premium Details

Input the exact premium amounts and preventive health check-up costs you paid during the financial year. Categorise these expenses correctly under self, family and parents to ensure you stay within your eligible limits.

Step 6: Review and Submit

Double-check all entries against your payment receipts. Once you confirm the accuracy of your details, submit your ITR form and proceed to verify your return electronically.

Maintaining your receipts helps you address any future queries from the tax department. Always file your returns well before the deadline to ensure a smooth verification process.

અંતિમ તારણ

હેલ્થ અને મેડિકલ ઇન્શ્યોરન્સ એ મેડિકલ સંકટના સમયે ફાઇનાન્શિયલ બૅકઅપ તરીકે કાર્ય કરે છે, તેમજ નાણાંકીય વર્ષ દરમિયાન સેક્શન 80D હેઠળ તેમાં ઇન્વેસ્ટ કરવાથી લાભ મેળવી શકાય છે. તે ભવિષ્ય માટે ઇન્વેસ્ટમેન્ટ કરવા માટે પ્રોત્સાહન પૂરું પાડે છે.

For fast processing and instant health insurance policy issuance and renewal, download the Bajaj General app.

વારંવાર પૂછાતા પ્રશ્નો

Are there any exclusions under Section 80D?

Yes, there are 3 significant exclusions under Section 80D. The first one is that if an individual purchases a health insurance policy for a family member, they cannot avail themselves of the tax benefit. The second exclusion is that if a policyholder purchases a health insurance policy in cash, they cannot avail themselves of this benefit. Lastly, if you have group health insurance, you cannot claim this benefit.

What is the difference between Section 80C and Section 80D of the Income Tax Act

Income tax deduction under Section 80C is eligible for payments made for life insurance premiums, investment in PPF, EPF, etc., equity-linked saving schemes, and payments made for the principal sum of SSY, SCSS, NCS, home loan, etc. In contrast, the Income tax deduction under Section 80D is eligible for payments made via debit or credit cards, cheques, drafts, or online banking for health or medical insurance premiums for self and dependent family members.

Can I Claim 80D Without Proof

No, claiming Section 80D without proof is not possible. You must submit valid receipts or documents for premiums paid on health insurance to qualify for tax deductions.

What Documents Are Required for 80D Medical Expenditure

તમારે પૉલિસીની વિગતો સાથે ચૂકવેલ હેલ્થ ઇન્શ્યોરન્સ પ્રીમિયમની રસીદની જરૂર છે અને સેક્શન 80D હેઠળ કપાતનો ક્લેઇમ કરવા માટે આશ્રિતોને તબીબી ખર્ચના પુરાવાની જરૂર છે.

What Proof to Submit for a Preventive Health Checkup

For a preventive health checkup under Section 80D, submit receipts or invoices from authorised medical providers as proof of payment for the checkup.

Is Proof Required for Claiming Medical Expenses Under 80DD

હા, આશ્રિતની વિકલાંગતા માટે સેક્શન 80DD હેઠળ તબીબી ખર્ચનો ક્લેઇમ કરવા માટે હૉસ્પિટલ અથવા ડૉક્ટરો તરફથી તબીબી પ્રમાણપત્રો, બિલ અથવા રસીદ જેવા પુરાવાઓ જરૂરી છે.

*સ્ટાન્ડર્ડ નિયમો અને શરતો લાગુ.

ઇન્શ્યોરન્સ એ આગ્રહની વિષયવસ્તુ છે. લાભો, બાકાત, મર્યાદાઓ, નિયમો અને શરતો વિશે વધુ વિગતો માટે, કૃપા કરીને વેચાણ પૂર્ણ કરતા પહેલાં સેલ્સ બ્રોશર/પૉલિસી નિયમાવલીને કાળજીપૂર્વક વાંચો.

ડિસ્ક્લેમર: આ પેજનું કન્ટેન્ટ સામાન્ય છે અને માત્ર માહિતીપૂર્ણ અને સ્પષ્ટીકરણના હેતુઓ માટે શેર કરવામાં આવેલ છે. તે ઇન્ટરનેટ પરના કેટલાક સેકન્ડરી સ્રોતો પર આધારિત છે અને તે ફેરફારોને આધિન હોય છે. કોઈપણ સંબંધિત નિર્ણયો લેતા પહેલાં, કૃપા કરીને નિષ્ણાતની સલાહ લો.

ઇન્શ્યોરન્સ એ આગ્રહની વિષયવસ્તુ છે. લાભો, બાકાત, મર્યાદાઓ, નિયમો અને શરતો વિશે વધુ વિગતો માટે, કૃપા કરીને વેચાણ પૂર્ણ કરતા પહેલાં સેલ્સ બ્રોશર/પૉલિસી નિયમાવલીને કાળજીપૂર્વક વાંચો.