India - Income Tax Act 2010 - Saarc

S. 80D I.T. ACT, 1961 1.396(2) Where the assessee is an individual, the sum referred to in sub-section (1) shallbe the aggregate of the following, namely:—(a) the whole of the amount paid to effect or to keep in force an insuranceon the health of the assessee or his family 68a [or any contributionmade to the Central Government Health Scheme] as does not exceedin the aggregate fifteen thousand rupees; and(b) the whole of the amount paid to effect or to keep in force an insuranceon the health of the parent or parents of the assessee as does notexceed in the aggregate fifteen thousand rupees.Explanation.—For the purposes of clause (a), “family” means the spouse anddependant children of the assessee.(3) Where the assessee is a Hindu undivided family, the sum referred to in subsection(1) shall be the whole of the amount paid to effect or to keep in force aninsurance on the health of any member of that Hindu undivided family as doesnot exceed in the aggregate fifteen thousand rupees.(4) Where the sum specified in clause (a) or clause (b) of sub-section (2) or in subsection(3) is paid to effect or keep in force an insurance on the health of anyperson specified therein, and who is a senior citizen, the provisions of this sectionshall have effect as if for the words “fifteen thousand rupees”, the words “twentythousand rupees” had been substituted.Explanation.—For the purposes of this sub-section, “senior citizen” means anindividual resident in India who is of the age of sixty-five years or more at anytime during the relevant previous year.(5) The insurance referred to in this section shall be in accordance with ascheme 69 made in this behalf by—(a) the General Insurance Corporation of India formed under section 9of the General Insurance Business (Nationalisation) Act, 1972 (57 of1972) and approved by the Central Government in this behalf; or(Contd. from p. 1.395)Provided that such insurance shall be in accordance with a scheme framed in this behalfby—(a) the General Insurance Corporation of India formed under section 9 of the GeneralInsurance Business (Nationalisation) Act, 1972 (57 of 1972) and approved by theCentral Government in this behalf; or(b) any other insurer and approved by the Insurance Regulatory and DevelopmentAuthority established under sub-section (1) of section 3 of the Insurance Regulatoryand Development Authority Act, 1999 (41 of 1999).Explanation.—For the purpose of this section, “senior citizen” shall have the meaningassigned to it in the Explanation to section 80DDB.’Original section 80D dealing with deduction in respect of medical treatment, etc., ofhandicapped dependants was introduced by the Finance (No. 2) Act, 1967, w.e.f. 1-4-1968replacing old section 80B which was inserted by the Finance Act, 1965, w.e.f. 1-4-1965.Original section 80D, prior to its omission by the Finance Act, 1984, w.e.f. 1-4-1985, wasamended by the Finance Act, 1981, w.e.f. 1-4-1982 and the Finance Act, 1968, w.e.f. 1-4-1969.68a. Shall be inserted by the Finance Act, 2010, w.e.f. 1-4-2011.69. For a scheme providing for Hospitalisation and Domiciliary Hospitalisation Benefit, seeTaxmann’s Direct Taxes Circulars.