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Deduction

vinod (SERVICE) (28 Points)

01 April 2018

In F.Y 2017-18 I have not deposited any amount in PPF, LIC etc. now my total income turn out to be taxable.any solution??

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Rahul Prajapati (Student) (2282 Points)
Replied 01 April 2018

You can take deduction in 80D

An individual can take the deduction of health insurance, preventive health check-up and medical expenditure fees paid for the following person-

Self

Husband/wife (Spouse)

Dependent children

•Parents

Deduction u/s 80D on health insurance premium is Rs 25,000. For Senior Citizens it is Rs 30,000. For every senior citizen above the age of 80 years who are not eligible to take health insurance, deduction is allowed for Rs 30,000 toward medical expenditure.
Preventive health checkup (Medical checkups)expenses to the extent of Rs 5,000/- per family can be claimed as tax deductions. Remember, this is not over and above the individual limits as explained above. (Family includes: Self, spouse, dependent children and parents).

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Rahul Prajapati (Student) (2282 Points)
Replied 01 April 2018

Read the Attachment

Attached File : 2177616 20180401154658 health insurance premium section 80d income tax exemptions fy 2017 18 medical insurance premium ay 2018 19.jpg downloaded: 145 times

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K Srinivas, CMA CS (Founder Artha Consulting Services) (5181 Points)
Replied 01 April 2018

Now that the FY 2017-18 has already ended, there is no option to invest/spend to claim any deduction.

Rahul Prajapati (Student) (2282 Points)
Replied 01 April 2018

Originally posted by : Rahul Prajapati
	You can take deduction in 80DAn individual can take the deduction of health insurance, preventive health check-up and medical expenditure fees paid for the following person-SelfHusband/wife (Spouse)Dependent children•ParentsDeduction u/s 80D on health insurance premium is Rs 25,000. For Senior Citizens it is Rs 30,000. For every senior citizen above the age of 80 years who are not eligible to take health insurance, deduction is allowed for Rs 30,000 toward medical expenditure.Preventive health checkup (Medical checkups)expenses to the extent of Rs 5,000/- per family can be claimed as tax deductions. Remember, this is not over and above the individual limits as explained above. (Family includes: Self, spouse, dependent children and parents).