Greetings!1
Can anyone please confirm if in the medclaim premium which is exempted under 80D is inclusive of Tax or exclusing (in FY 2017-18).
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Does tax is included for exemption under 80 d
Replies (3)
What u have paid for medical premium inclusive of tax is eligible for deduction u/s 80D
The total payment made is exempt
for ex:
Mediclaim premium 15000
Add: CGST @ 9% 1350
Add: SGST @ 9% 1350
TOTAL: 17700
Then deduction allowable u/s 80D will be 17700
for ex:
Mediclaim premium 15000
Add: CGST @ 9% 1350
Add: SGST @ 9% 1350
TOTAL: 17700
Then deduction allowable u/s 80D will be 17700
Yes total amount eligible for Deduction
The Sec.80D(2)(a) clearly speaks about the whole of the amount paid to effect or to keep in force an insurance on the health of the assessee or his family.. Act not specifically said about tax amount so in my opinion total amount eligible for deduction
The Sec.80D(2)(a) clearly speaks about the whole of the amount paid to effect or to keep in force an insurance on the health of the assessee or his family.. Act not specifically said about tax amount so in my opinion total amount eligible for deduction
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