Deduction for health insurance.
71. (1) A person, being an individual or a Hindu undivided family, shall be allowed a deduction in respect of any sum paid during the financial year to effect,
or to keep in force, an insurance on the health of persons specified in sub-section (2) and in addition, in the case of an individual, any contribution made to the Central Government Health Scheme.
(2) The person referred to in sub-section (1) shall be—
(a) the individual, spouse, or any dependant child or parents of such individual; and
(b) in case of a Hindu undivided family, any member of such family.
(3) The insurance under this section refers to a health insurance scheme framed by any insurer which is approved by the Insurance Regulatory and Development Authority.
