Please let me know whether mediclaim and medical expenses incurred by a professional for his self and family can be deducted from his business income and arrive at tax
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Expenses that can be deducted from business income
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As I understand, deduction for mediclaim insurance premium for assessee, spouse, dependant children & parents is available as per sec 80D. With reference to medical expenses, deduction u/s 80DDB can be claimed if certain conditions are satisfied. Medical expenses for self & family are in the nature of personal expenses, so it might not be allowed as deduction. However, views of others are welcome.
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