Premium

What Is Medical Premium Recoverable In Payslip?

On: August 30, 2022

Medical insurance premium paid offers tax benefits under Section 80D of the income tax Act. The Finance Act, 2018 offers higher deductions for medical premiums paid for senior citizens. In case no one in the family is over 60, the deduction is up to Rs 25,000. Hence total deduction oneRead More →

Is Health Insurance Premium A Medical Expense?

By: varinder

On: August 30, 2022

In: Medical

With: 0 Comments

Health insurance premiums are deductible on federal taxes, as these monthly payments for coverage are classified as a medical expense. The general rule is that if you pay for medical insurance with out-of-pocket money, then you would be allowed to deduct the amount from your taxes. What is medical insuranceRead More →