Taxable perquisite in Group medical insurance

Hi members,

The query is about a company that has bought a medical insurance plan for its employees and their families. The company paid the premium cost, and it recovers 20% from employees' salaries.

e.g., the premium per person is 2,000, and for a family of 3, it becomes 6,000. The company recovers 1,200 from salaries.

Now, what would be the amount of perks, if any, and the amount of deduction available to employee u/s section 80D?

Thanks

Replies (1)

Summary: The portion of the insurance premium paid by your employer is tax-free for you. The portion recovered from your salary is eligible for a tax deduction under Section 80D, provided you are filing under the Old Tax Regime and stay within the specified monetary limits.

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