Senior citizens can get tax benefit of up to ₹50,000 for medical expenditure without Health Insurance

Q.1) I am 70 years old and I bought a hearing aid for 70,000 during financial year. I am not having any health insurance. Am I eligible for a deduction of 50,000 under Section 80D of the Income-tax Act?

Answer:-
Budget 2018 has amended Section 80D of the Income Tax Act which allows deduction for medical expenditure incurred on senior citizens.

As a senior citizen, if you made any payments towards medical expenditure, through any mode other than cash, a deduction of up to 50,000 annually is available under Section 80D, as you do not have any health insurance.

However, as medical expenditure has not been expressly defined, admission of these payments towards this deduction would be a fact-specific evaluation.

 

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