Tds on salary

This query is : Resolved

YesodhaMuthukrishnan (Querist)
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09 February 2013 Hi Everyone

Kindly clarify my doubt. In our concern Health Insurance is deducted for all staffs as a part of salary . In the health Insurance including the staffs their dependent are eligible to be add on .

So while claiming for tax exemption whether this Health insurance premium which is deducted from the company can be eligible for exemption

CA Himanshu Kansal

CA Himanshu Kansal (Expert)
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09 February 2013 Yes, As per section 80D of the Income Tax Act 1961, such health insurance premium paid is eligible for deduction from the income as per the below mentioned limit:

a) in case of individual himself, his spouse and dependent children amount of deduction is equal to Rs. 15000 or actual premium paid which ever is less (if the individual is above 65 years of age then Replace Rs. 15000 by Rs. 20000)

b) if health insurance premium paid for the health of his parents or an contribution made to the central government Health scheme then also the same condition mentioned above apply.

total deduction under section 80D is equal to amount as per (a) plus (b).

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