Tds on salary
This query is : Resolved
09 February 2013
Hi Everyone
Kindly clarify my doubt. In our concern Health Insurance is deducted for all staffs as a part of salary . In the health Insurance including the staffs their dependent are eligible to be add on .
So while claiming for tax exemption whether this Health insurance premium which is deducted from the company can be eligible for exemption
Kindly clarify my doubt. In our concern Health Insurance is deducted for all staffs as a part of salary . In the health Insurance including the staffs their dependent are eligible to be add on .
So while claiming for tax exemption whether this Health insurance premium which is deducted from the company can be eligible for exemption
09 February 2013
Yes, As per section 80D of the Income Tax Act 1961, such health insurance premium paid is eligible for deduction from the income as per the below mentioned limit:
a) in case of individual himself, his spouse and dependent children amount of deduction is equal to Rs. 15000 or actual premium paid which ever is less (if the individual is above 65 years of age then Replace Rs. 15000 by Rs. 20000)
b) if health insurance premium paid for the health of his parents or an contribution made to the central government Health scheme then also the same condition mentioned above apply.
total deduction under section 80D is equal to amount as per (a) plus (b).
a) in case of individual himself, his spouse and dependent children amount of deduction is equal to Rs. 15000 or actual premium paid which ever is less (if the individual is above 65 years of age then Replace Rs. 15000 by Rs. 20000)
b) if health insurance premium paid for the health of his parents or an contribution made to the central government Health scheme then also the same condition mentioned above apply.
total deduction under section 80D is equal to amount as per (a) plus (b).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
