The deduction is available up to Rs. 30,000/- for senior citizens and up to Rs. 25,000/ in other cases for insurance of self, spouse, and dependent children. Additionally, a deduction for insurance of parents (father or mother or both) is available to the extent of Rs. 30,000/-, within the existing limit, a deduction of up to Rs. 5,000 for preventive health check-up is available.

If an employee has the Sr.Citizen member who can get max Rs.3,000/- and if the self-has Medical Insurance he can also get Max Rs. 25,000/-, in this case, the employee can get total Medical Benefits Rs. 25,000/- + 30,000/- = 55,000/-

Download 100 employees Master of Form 16 Part B for the Financial Year 2017-18 [ This Excel Utility can prepare at a time 100 employees Form 16 Part B]