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).
Regards
Menu
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
Recent Threads
- Can a LLP Park money in MFs and do F&O
- ACCOUNTING TREATMENT FOR FIXED ASSETS STANDING AT
- GST Rule 14A and Form GST REG-32: Simplified Regis
- Filed Hotel commission from International Company
- Reinsurance brokerage section?
- Gst me Registration Zaruri Hain Kya?
- Discuss and Download CA Inter Question Paper Janua
- Discuss and Download CA Final Question Paper Janua
- Accounting Entry for samples received from princip
- Many of my clients who are bank employees received
Related Threads
CAclubindia
