Deduction of medical policy and medical expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 January 2013
Dear All,
Please confirm about Medical Expenses, for example one person has purchase a medical policy and paid a premium of Rs. 20000 annul and also expend Rs. 25000 in miscellaneous medical expenses in the same year.His income is from salary and employer provided salary slip with Rs. 1250 per month medical allowance that is Rs. 15000 annual.
In this case how much deductions are allowed as per income tax.
Please confirm about Medical Expenses, for example one person has purchase a medical policy and paid a premium of Rs. 20000 annul and also expend Rs. 25000 in miscellaneous medical expenses in the same year.His income is from salary and employer provided salary slip with Rs. 1250 per month medical allowance that is Rs. 15000 annual.
In this case how much deductions are allowed as per income tax.
23 January 2013
The Medical Allowance of 15000/ is exempt if he furnishes bill to the employer.
.
Medical Insurance premium paid in respect of Senior Citizens is deductible upto Rs. 20000.
In other Cases benefit of Rs. 15000/ is available U/s 80D.
.
.
Medical Insurance premium paid in respect of Senior Citizens is deductible upto Rs. 20000.
In other Cases benefit of Rs. 15000/ is available U/s 80D.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- Foreign lottery ticket bought online from India: legality, tax and consequences
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Experts need help
- Putting a heading on received mail
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
