I pay insurance premium for my parents, can I claim deduction for it?
One can claim tax exemption on health insurance premium for self,dependents and dependent parents under section 80 D .It can be claimed directly in itr or through employer. 80D is only for health insurance
Section 80D allows a deduction to an Individual or HUF for the amount paid towards the medical insurance premium, medical expenditure, and preventive health checkup. It can be claimed for Self, Spouse, Children, and Parents. You can claim it through your employer or directly through ITR as well. For the amount of deduction that you can claim you can refer to the below article:
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