PREVENTIVE HEALTH CHECK-UP (UNDER SECTION 80D)

DEDUCTION TOWARDS PAYMENT OF PREVENTIVE HEALTH CHECK-UP (UNDER SECTION 80D)

Today I am going to discuss about tax benefits of health checkup. how you can benefit through checkup expenses, in which section its going to come. So here below I have every benefit you can take through health checkup........

PREVENTIVE HEALTH CHECK-UP 

As per the finance act 2012 -- section 80D is amended (with effect from 2013-14) .so any payment made by assessee towards his  preventive health check-up ,for that they can claim deduction under section 80D of the income tax act 1961. Health checkup can of  assessee health , of spouse, dependent children or parents during the previous year to the limit of Rs 5000 within the existing limit prescribed in the section of 80D..

CONDITION TO TAKE DEDUCTION UNDER PREVENTIVE HEALTH CHECK-UP

Deduction is allowed only in respect of preventive health checkup out of income of assessee which is chargeable to tax. Any other expense like in treat treatment of assessee for self or spouse, dependant  children is not allowed. Just health checkup come in this criteria.

Amount of deduction is the amount actually paid by assessee or Rs 5,000 whichever is lower. So if you have the expense of Rs 10,000 then also you can claim deduction only up to Rs 5,000 only.

 PREVENTIVE HEALTH CHECK-UP (UNDER SECTION 80D)

Whatever expenses you done , deduction will be allowed within the over all monetary limit which is prescribed in the section 80D and you can not take benefits up-to the limit of Rs 5,000.

This deduction is available for the assessee for his preventive health checkup, spouse, dependent children or parents ,but main thing is that limit is only 5,000. You can-not increase this limit.

For example---- you have preventive health check-up done on your health is Rs 5, 000 ,on your children health is Rs 5,000 ,on your spouse health done expenses of Rs 10000 and your total expenses in preventing health checkup is Rs20,000. In this case also you can claim only Rs 5,000 deduction under section 80D.

Payment mode

Here in preventive health checkup there is no barriers in regards of payment you can do the payment in cash or cheque. What should be payment mode is not describe  any where  by income tax so there is no problem, you can use cash payment or cheque for your payment.

Benefits under income tax

Whatever payment your going to do for your preventive health checkup you can claim its deduction under the income tax section 80D of income tax act 1961 . Expenses done by you in that financial year can be claim in the assessment year. So friend keep in mine that from now whatever preventive health checkup you are going to do don't forget its benefits.

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