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  • B.section 80D: Deduction in Respect of Medical Insurance Premium Conditions

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    Section 80D of the tax code allows for a deduction for medical insurance premiums paid by cheque from taxable income, provided the insurance is for medical coverage and not life insurance. The medical insurance scheme must be approved by the central government and framed by GIC, or approved by the Insurance Regulatory & Development Authority starting from the 2002-03 assessment year.

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    Tax Q no 2b

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    Section 80D of the tax code allows for a deduction for medical insurance premiums paid by cheque from taxable income, provided the insurance is for medical coverage and not life insurance. The medical insurance scheme must be approved by the central government and framed by GIC, or approved by the Insurance Regulatory & Development Authority starting from the 2002-03 assessment year.

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    3 views1 page

    B.section 80D: Deduction in Respect of Medical Insurance Premium Conditions

    Uploaded by

    akhas88
    Section 80D of the tax code allows for a deduction for medical insurance premiums paid by cheque from taxable income, provided the insurance is for medical coverage and not life insurance. The medical insurance scheme must be approved by the central government and framed by GIC, or approved by the Insurance Regulatory & Development Authority starting from the 2002-03 assessment year.

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    Attribution Non-Commercial (BY-NC)
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    b.Section 80D: Deduction in respect of medical insurance premium Conditions 1.

    Payment shall be on account of insurance premium in respect of Medical Insurance (Not Life Insurance). 2. Payment shall be made by cheque. 3. Payment shall be out of income chargeable to tax. 4. Insurance scheme shall be framed by GIC and approved by the Central Government from A.Y. 2002-03 the amount deposited in any scheme of any other insurer who is approved by the Insurance Regulatory & Development Authority shall also be eligible for deduction.

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