Can an employee declares exemption under Section 80D for Medical Expenses ( for self ) and Medical Insurance ( for parents not senior citizen) at the same time ?
You (as an individual or HUF) can claim a deduction of Rs.25,000 under [section 80D] on insurance for self, spouse and dependent children.
An additional deduction for insurance of parents is available up to Rs 25,000, if they are less than 60 years of age.
If the parents are aged above 60, the deduction amount is Rs 50,000.
In case, both taxpayer and parent(s) are 60 years or above, the maximum deduction available under this section is up to Rs.1 lakh.