If mediclaim purchase for 3 year, then how many year we can claim
This query is : Resolved
11 January 2023
Dear Expert,
We would like to know that one of our employee had purchased Mediclaim valid for 3 years in FY 2021-2022.
Now our question is that if she has not claimed in the financial year 2021-2022, can she claim it in the financial year 2022-2023 or not?
If yes, then our next question is, can she claim only for one year or can claim for the next year also. Since she has paid Rs.68,000 for 3 years, we know that Rs.25,000 can be claimed in 80D in one year.
We would like to know that one of our employee had purchased Mediclaim valid for 3 years in FY 2021-2022.
Now our question is that if she has not claimed in the financial year 2021-2022, can she claim it in the financial year 2022-2023 or not?
If yes, then our next question is, can she claim only for one year or can claim for the next year also. Since she has paid Rs.68,000 for 3 years, we know that Rs.25,000 can be claimed in 80D in one year.
11 January 2023
As per sec. 80D sub sec. 4A... appropriate amount is allowed for deduction, even if premium is paid in lumpsum for more then one year..
It means you can allow deduction for FY 2022-23 & 2023-24 in proprotionate amount, subject to limit specified in the act..
It means you can allow deduction for FY 2022-23 & 2023-24 in proprotionate amount, subject to limit specified in the act..
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11 January 2023
You are welcome.
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19 January 2023
Dear Expert,
We have a little query about the premium amount of tax exemption.
that my query is if we paid any premium of medicliam or LIC etc, get exemption on basic amount of premium of including tax or exclusive of tax ?
We have a little query about the premium amount of tax exemption.
that my query is if we paid any premium of medicliam or LIC etc, get exemption on basic amount of premium of including tax or exclusive of tax ?
19 January 2023
Inclusive of tax..
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