How to Fill Schedule 80D in ITR

To complete Schedule 80D in your Income Tax Return (ITR), you need to provide information on health insurance premiums and qualifying medical expenses incurred within the financial year. The procedure is involved in submitting your ITR online via the Income Tax e-filing platform.

Before Starting 

Collect the required paperwork to confirm precision:

• Policy documents for health insurance covering yourself, your spouse, dependent children, and parents.
• Receipts of payments for premiums made for these policies.
• Healthcare expenses and payment verification for elderly individuals lacking health insurance.
• Invoices for routine health screenings.

Detailed instructions for completing Schedule 80D

Sign in: Access the Income Tax e-filing site and enter your login information.

Pick form: Select the appropriate ITR form for your earnings. For individuals with a salary, this is frequently ITR-1 Sahaj or ITR-2.

Choose the old tax regime: To take advantage of deductions such as Section 80D, you need to decline the new tax regime. You must clearly choose "No" when prompted about filing your return under the new tax system.

Go to deductions: In the "Gross Total Income" area, locate the "Tax Deductions" option.

Activate Schedule 80D: Upon reaching the deductions page, respond "Yes" to the inquiry regarding the claim for medical insurance premium deductions and preventive health examinations. This will allow you to complete Schedule 80D.

Fill in the details:

• Self, spouse, and dependent children: Enter the amount of health insurance premium and preventive health check-up expenses paid for yourself and your family members.
• Parents: Fill in the premium amounts for your parents. The maximum deduction for parents who are senior citizens (60 years or older) is higher.
• Medical expenditure for senior citizens: If you paid for medical expenses for senior citizen parents who do not have health insurance, enter the amount in the relevant field.
• Review and submit: Once you have entered all the details, verify them against your receipts and click "Submit". The system will automatically calculate the maximum allowable deduction. 

Key deduction limits and rules under Section 80D

• For self, spouse, and dependent children: The maximum deduction is ₹25,000 for individuals below 60 years old.
• For senior citizens (self or family): If you or any family member covered are 60 or older, the deduction limit increases to ₹50,000.
• For parents: You can claim an additional deduction for premiums paid for your parents. The limit is ₹25,000, or ₹50,000 if your parents are senior citizens.
• For medical expenditure: For senior citizens who are not covered by any health insurance, a deduction of up to ₹50,000 can be claimed for medical expenses. This is an alternative to claiming the insurance premium.
• For preventive health check-ups: Expenses of up to ₹5,000 for preventive health check-ups for your family and parents can be included within the overall deduction limit.

Mode of payment: 

To claim the deduction, all insurance premium payments must be made via a non-cash mode (cheque, debit card, UPI, etc.). However, payments for preventive health check-ups can be made in cash.