Deductions from total income
This query is : Resolved
30 April 2022
Please tell me how the deduction comes out to be 25000 under 80D
He pays lumpsum premium of 1,50,000 towards health insurance for self and his wife for 48 months on 01.10.2019 by account payee cheque. He also contributes 1,50,000 towards PPF.
He pays lumpsum premium of 1,50,000 towards health insurance for self and his wife for 48 months on 01.10.2019 by account payee cheque. He also contributes 1,50,000 towards PPF.
30 April 2022
For a person aged below 60 years, the limit for deduction under Section 80D is upto `25,000. The limit of `25,000 includes `5,000 on preventive health checkup. If the age of the insured is above 60 years, the limit for deduction increases upto `50,000.
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