Union Budget 2015: Tax deduction limit on health insurance premium raised

Finance Minister Arun Jaitley on Saturday raised the limit of tax deduction in health insurance premium, while presenting the Union Budget for 2015-16.

In hi maiden full-year Budget for the new government, Jaitley said, "Increase in limit of deduction in health insurance premium from Rs 15,000 to Rs 25,000."

The Finance Minister added that the deduction limit for senior citizens will be Rs 30,000.