TAX BENEFITS IN SECTION 80D OF INCOME TAX
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As you all know
that in today era every thing is unexpected ,uncertain there is no guaranty
about any thing no one knows what is
going to be happen next and unexpected health related problem is but natural to
arise and to tackling this problem we
have different source. Some people do life insurance some do fixed deposits and
other things so they can get enough
money for there hard time .
One of them
source is health insurance . As you all know this term and benefit of this.
Medical insurance also have another benefits. Medical insurance not only help
full for unexpected health problems but
also its helpful in you tax saving benefit. It is a source from where you get
money for unexpected time of health illness. Seriously friend you get cover of
Rs 2 to 3 lac in just Rs 1000 to Rs 1500 of yearly payment.
AMOUNT OF
DEDUCTIONS UNDER SECTION 80D
Particular
|
Amount of deduction
|
Assessment year 2013-14 & 2014-15
|
|
Senior citizens (individual) Male/Female
|
Rs20,000
|
Citizen (individual) Male/Female
|
Rs15,000
|
Preventive health
checkup (Male/Female)
|
Rs 5,000
|
So friend
section 80D of income tax is related to medical insurance and this section help
you to take deduction. So many people don't know that whatever premium they are
paying to insurance companies they can claim deduction for that under chapter
VI(A) of income tax.
DEDUCTION IN SECTION 80DIS IN REGARD OF HEALTH INSURANCE.
To whom this
deduction is available
Deduction is
allow to individual and HUF in respect of payment made by them towards....
Any contribution
made to centre government scheme or any other scheme notified by central government.
In any health
insurance company.
PAYMENT MODE
You can do
payment in any mode like cash or cheque whatever is suitable to you ( effective
from 2013-14)
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