Section 80D
Section 80D of the Indian Income Tax Act provides deductions for health insurance premiums paid for self, spouse, children, and parents, up to Rs. 25,000 (Rs. 50,000 for senior citizen parents). Employees submit insurance premium receipts to claim this deduction, which reduces taxable income and consequently TDS liability. HR teams process Section 80D declarations as part of the annual investment proof verification.
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