Section 80D: Deduction for Medical Insurance Premium - Learn by Quicko
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Section 80D: Tax Benefits of Health Insurance Plans
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When it’s time to file your Income Tax Return (ITR), availing deductions under Section 80D is straightforward and rewarding. Here's how. #StarHealthInsurance #StarHealth #HealthInsurance #IncomeTax #TaxFiling | Star Health And Allied Insurance
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No tax benefit for you, if you pay health insurance premium via cash. Under Section 80D, individuals can claim tax deductions on health insurance premiums paid for themselves, their spouse, children, and parents. However, this benefit is only available if the premium is paid through non-cash modes such as cheque, online banking, or UPI. Payments made in cash or through demand drafts (DD) do not qualify for this deduction. This means that by paying in cash, you forfeit the opportunity to reduce y
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