Is the Medical Insurance taken on employees and their families, an allowable expenditure in case of the employer under the Income Tax act?
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Medical insurance for employees
Replies (2)
i think "YES" why not
As per the Point (iii) of First Proviso to Sec 17(2) , any portion of premium paid by an employer in relation to an employee to effect or to keep in force an insurance on the health of employee under any scheme approved by the Govt shall not be treated as perquisite and hence will not be taxable in the hands of employee.
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