Sec. 80D Deduction | Tax benefit on health Insurance, Medical expenses
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Sec. 80D Deduction | Tax
Sec. 80D Deduction | Tax benefit on health Insurance, Medical expenses
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In this video we are going to learn about deduction under section 80D which is related to Health insurance policy, Medical expenditure and Preventive health checkup.
Section 80D was mainly introduced to promote health planning and limit of deduction was set for Non senior citizen and senior citizen.
Senior citizen are of the age of 60 years or more and he may be assessee himself, his spouse or his parents. So deduction under section 80D is dependent on 4 things:
1) Type of expenditure
2) Mode of Payment
3) Age
4) Relation
Section 80D covers expenditure such as Health insurance Premium, Contribution to central Government health scheme, Preventive health checkup and Medical expenditure....
Mode of Payment can be Cash or any other mode depending on the type of payment.
Medical expenditure are for those who have not taken any health insurance policy and they are senior citizen.
There are two limit covered under section 80D 1) 25,000 2) 50000 depending on relation such deduction is allowed to the assessee.
......................................................................
Deduction under section 80D is provided to lower the tax liability of the person hence it is deducted out of gross total income of the assessee.
......................................................................
Proof of Premium and expenditure bill is required to claim deductor under section 80D.
......................................................................
If you health related expenses falls within the.above limit you can claim it while filing your ITR 1, ITR2, ITR3 and ITR4
......................................................................
#section80ddeduction
#80d
#section80d
#taxbenefits
#healthinsurance
#itr
#preventivehealthcare
#medicalexpenses
#themauryaaftclasses
#tax
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Follow us on
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..............................................................
👉 Support New channel @Investingwith_MauryaJi
In this video we are going to learn about deduction under section 80D which is related to Health insurance policy, Medical expenditure and Preventive health checkup.
Section 80D was mainly introduced to promote health planning and limit of deduction was set for Non senior citizen and senior citizen.
Senior citizen are of the age of 60 years or more and he may be assessee himself, his spouse or his parents. So deduction under section 80D is dependent on 4 things:
1) Type of expenditure
2) Mode of Payment
3) Age
4) Relation
Section 80D covers expenditure such as Health insurance Premium, Contribution to central Government health scheme, Preventive health checkup and Medical expenditure....
Mode of Payment can be Cash or any other mode depending on the type of payment.
Medical expenditure are for those who have not taken any health insurance policy and they are senior citizen.
There are two limit covered under section 80D 1) 25,000 2) 50000 depending on relation such deduction is allowed to the assessee.
......................................................................
Deduction under section 80D is provided to lower the tax liability of the person hence it is deducted out of gross total income of the assessee.
......................................................................
Proof of Premium and expenditure bill is required to claim deductor under section 80D.
......................................................................
If you health related expenses falls within the.above limit you can claim it while filing your ITR 1, ITR2, ITR3 and ITR4
......................................................................
#section80ddeduction
#80d
#section80d
#taxbenefits
#healthinsurance
#itr
#preventivehealthcare
#medicalexpenses
#themauryaaftclasses
#tax
.......................................................................Please subscribe to my channel 🙏🙏🙏
..................................................................
Follow us on
Facebook: Mauryaclasses2
Instagram: rinkumourya23
..............................................................
2 سال پیش
در تاریخ 1401/10/13 منتشر شده
است.
24,072
بـار بازدید شده