Penny saved is more than penny earned and thus as a wise man, one must make use of all available tax breaks. We will talk beyond Section 80C.
Tax Deduction U/S 80D
Now one has an option to get Income Tax Deduction U/S 80 whereby one gets a rebate on premium paid on health insurance policies to an extent of Rs 15000 for self and an additional Rs 15000 for parents.
The figure becomes Rs 20,000 for parents provided they are senior citizens. You can also check out best medical insurance for senior citizens here.
