income tax exemption
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 July 2011
Dear sir,
if an individual opt a mediclaim policy in financial year form any insurance company.
On the same financial year the individual also pay some amount to doctor consultancy fee and medicine for himself treatment
In this case can the individual take exemption from income tax on both mediclaim poliy amount + consultancy fee + medicine expencess.
so, Please guide.
if an individual opt a mediclaim policy in financial year form any insurance company.
On the same financial year the individual also pay some amount to doctor consultancy fee and medicine for himself treatment
In this case can the individual take exemption from income tax on both mediclaim poliy amount + consultancy fee + medicine expencess.
so, Please guide.
CA PARAS BAFNA
(Expert)
23 July 2011
I have recently read one case law of Delhi High Court , in which Lokpal Fame eminent senior lawyer Shanti Bhushan in his return of AY 1983-84 has claimed Rs. 1.74 lacs towards his heart surgery by claiming that Heart is a plant and expenditure for its repairs has to be allowed.
High Court has rejected his plea and he lost the case.
In your case , Medi Claim Premium Deduction can be claimed U/s 80D, provided it is paid by cheque.
Medical Expenses and Consultation Fee being in the nature of personal expenses, is not allowable as expenditure.
High Court has rejected his plea and he lost the case.
In your case , Medi Claim Premium Deduction can be claimed U/s 80D, provided it is paid by cheque.
Medical Expenses and Consultation Fee being in the nature of personal expenses, is not allowable as expenditure.
25 July 2011
I agree with the expert
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
- GST on reimbursement of expenses
- Visiting card purchase
- Query on effect of registration of property
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Additional trade name
- Whether output tax is taken credit by purchaser
- Equity Share Sale and Purchase
- Number of years as per AS amortisation of Goodwill
- Wrong CMPo8 file
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
