Q: Can a person get tax exemption on medical insurance ?

Ans: Under Section 80 D of the Income Tax Act, 1961, a person can get a tax exemption for an amount up to Rs. 25,000 for the medical insurance of self, spouse, and children. If parents are included, the amount for the tax exemption will be Rs 50000 in the case of medical insurance.

In the case of medical expenses, a person can claim a tax exemption of an amount up to Rs 50,000.

The medical expenditure amount decided for part A, i.e. self, spouse, and child, is Rs 30,000 and the amount of medical expenditure which is decided for part B, i.e. parents, is Rs 30,000, but if both part A and part B are included,  the limit of total amount will be Rs 50,000.

A person can get the benefit of tax exemption for maximum number of two children. 

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