Ramesh Narasimhan (Accounts Officer) (65 Points)
20 July 2015Please 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
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 20 July 2015
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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