Taxexcel: Income Tax Calculator for the West Bengal Govt Employees for F.Y.2021-22

Senior Citizen parental medical bills can save you taxes. With COVID's second wave in full swing,

health insurance seems like an unavoidable requirement that also gives you tax benefits under Sec 80D.

But here’s the catch - health insurance premiums for senior citizens are either too high or unavailable, especially for those with pre-existing conditions. Don't worry - did you know that even your senior citizen's parents' medical bills can save you taxes?

Let's find out how it works

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Medical expenses incurred for senior citizens 60 years of age or older are reasonable.

This waiver claim may include parents (spouses or dependent children) for themselves (senior citizens themselves) or families.

The person for whom the discount has been claimed is not covered by any health insurance.

All medical expenses, from counseling fees to medications, or the purchase of devices such as hearing aids, are permitted. A proof will be required.

Most importantly - no payments made in cash are allowed.

The limit of medical expenses is the same as that allowed for health insurance which is Rs 50,000 per year for parents and Rs. Separate annual Rs. 50,000 for self, wife or dependent children (if senior citizen).

This year, as there are plenty of examples of people who spend money on treatments related to covid, make sure you make good use of this facility to save your taxes.

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