Preventive Health Checkup Section 80d
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80d deduction for expenditure on preventive health check up not exceeding rs.
Preventive health checkup section 80d. Let us first understand or define what you mean by the preventive health check up. In the union budget of 2011 12 the government of india has announced tax benefits under section 80d it act on preventive health checkup up to rs. I am asking about the new amendment inserted by the finance act 2012 w e f.
Tax deductions allowed for preventive health check up. A medical insurance policy allows you to avail tax deduction under section 80d of income tax act for any expenses incurred for preventive health check ups. 5 000 is proposed in respect of preventive health checkup of self spouse and dependent children and parents of the assessee.
Under section 80d tax payers can avail tax exemptions for health insurance premiums of self family and parents and for expenses incurred in preventive health check ups. The payment for preventive health check up can be made in cash as well. A deduction of maximum rs.
1 april 2018 as the case may be. On the other hand section 80c of the income tax act includes many different types of tax saving investments and expenses. Preventive health check up any payments made towards preventive health check ups will entitle a taxpayer to a deduction of up to rs 5 000 which is within the overall limit of rs 25 000 rs 30 000 rs 50 000 w e f.
5000 will be given on payment made against a preventive health check up within the overall deduction of rs. The text of sub section 2a of section 80d of the act has been reproduced below in. 15 000 available with respect to premium paid towards a.
Not to be confused with preventive health check up section 80d also allows deduction for preventive health check up for maximum rs 5 000. Earlier only the health insurance premium was allowed for deduction under sec 80d. 5 000 for the cost incurred for preventive health check ups for self spouse children or parents.
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