The premium paid towards the mediclaim policy is not regarded as a medical expenditure, but Section 80D benefit is available. It will not be considered for income tax exemption under medical reimbursement but can be considered for tax deduction separately under Section 80D of the Income Tax Act. Is medicalRead More →
Under Section 80D of the Income Tax Act, 1961, we can avail deduction for health insurance premium paid for self, spouse, dependents, children, and even parents. Does health insurance come under 80C? Premium paid for life and medical insurance policies can be used to claim tax benefit under Section 80CRead More →
Therefore, it cannot be considered for income tax exemption under medical reimbursement. Mediclaim premium paid can be taken as a income tax deduction Section 80D separately. Under which section medical reimbursement is exempt? The premium paid towards the mediclaim policy is not regarded as a medical expenditure, but Section 80DRead More →
According to Section 80D of the Income Tax Act, senior citizens may avail a deduction of up to Rs 50,000 for payment of premium towards medical insurance policy. This limit includes expenses incurred on preventive health checks subject to the internal limit of `5,000. What is Section 80D? A personRead More →