Deduction for Medical Insurance Premium Under Section 80D With Automated Income Tax Calculator All in One TDS on Salary for Non-Govt Employees for F.Y. 2019-20 ( Including Old and New Tax Regime as per Budget 2020]

A VPN is an essential component of IT security, whether you’re just starting a business or are already up and running. Most business interactions and transactions happen online and VPN
Tax Calculator

Deduction for Medical Insurance Premium Under Section 80D. Section 80D gives deduction to an individual or a Hindu unified family towards medical insurance premium and preventive health registration or commitment to Focal Government Health Plan (CGHS) or any plan told by the Focal Government on the health of the assessee, his family, guardians or individuals from the HUF.

Deduction For Medical Insurance Premium U/Sec 80d

Where the assessee is an individual after uses are qualified for deduction:

•        (a) the entire of the amount paid to impact or to keep in power insurance on the health of the assessee or his family or “any commitment made to the Focal Government Health Plan” or such other plan as might be told by the Focal Government for this sake or any instalment made by virtue of preventive health registration of the assessee or his family and the whole doesn’t surpass in the aggregate Rs. 25,000; and

•        (b) the entire of the amount paid to impact or to keep in power insurance on the health of the parent or guardians of the assessee or any instalment made by virtue of preventive health registration of the assessee or his family as doesn’t surpass in the aggregate Rs. 25,000.

•        (c) the entire of the amount paid by virtue of medical use brought about on the health of the assessee or any individual from his family, who is a senior resident or exceptionally senior resident and not having medical insurance, as doesn’t surpass in the aggregate Rs. 50,000.

•        (d) the entire of the amount paid by virtue of medical use caused on the health of any parent of the assessee who is senior resident or senior resident and not having medical insurance, as doesn’t surpass in the aggregate Rs. 50,000.

Clarification: family implies the life partner and ward offspring of the assessee

The instalment will be made by any mode, including money, in regard of any whole paid by virtue of preventive health registration and by any mode other then money in all cases other than preventive health check-up.

Where the assessee is a Hindu unified family, the use qualified for the deduction, will be aggregate of the accompanying to be specific:

•        (a) entire of the amount paid to impact or to keep in power insurance on the health of any individual from that Hindu unified Family as doesn’t surpass in the aggregate Rs. 25,000

•        (b) entire of the amount paid by virtue of medical consumption acquired on the health of any senior resident or senior resident individual from the Hindu unified family as doesn’t surpass in the aggregate Rs. 50,000 and no amount has been paid to impact or to keep in power and insurance on the heath of such an individual:

Given Further that the aggregate of the total determined under the condition (an) and statement (b) will not surpass Rs. 50,000

Clarification: For the motivations behind this sub- Section,

•        Senior resident methods and the individual inhabitant in India who is of the age of sixty years or more whenever during the applicable earlier year

Deduction under Section 80D is additionally accessible in regard to commitment to Focal Government Health Plan. Anyway, this deduction isn’t accessible to HUF. The deduction is accessible to an individual and just in regard to health insurance approach taken for Singular himself, mate and ward kids. In the event that an individual takes an insurance strategy on the health of Guardians whether subordinate or not, deduction under this section won’t be accessible.

Deduction under this Section inside as far as possible, in regard to any installment or commitment made by the assessee to such other health conspire as might be advised by the Focal Government.

Download Automated Excel Based Income Tax Software All in One for Non-Govt Employee for Financial Year 2020-2021 as per Budget 2020 as Old Tax Regime and New Tax Section

Feature of this Excel Utility

1)      This Excel Utility can prepare at a time Income Tax Computed Sheet + Individual Salary Structure as per all Non-Govt employees + Automated Form 12 BA + Automated Income Tax Revised Form 16 Part A&B and Part B

2)      This Excel Utility can prepare both of Old Tax Regime and New Tax Regime as per new Income Tax Section 115BAC ( As per this New Section you can give your option that you can choose your Tax Slab as Old Tax Regime i.e. F.Y. 2019-20 with all deduction and exemption as per F.Y. 2019-20 And If you Choice the New Tax Slab, then you can not avail the any income Tax Benefits as per F.Y.2019-20. But this New Tax Slab is beneficial to the tax payers as there have a one another Tax Slab i.e. From 5,00,001/- to 7,50,000/-  10per cent. This Tax slab can not availed the Old Tax Benefits.

Income Tax
Income Tax
Income Tax
Income Tax
Income Tax
admin

admin

City:- KOLKATA Country:- India State:- West Bengal

Leave a Replay

Subscribe us

Enter your email address:

Delivered by FeedBurner

You cannot copy content of this page, if you share this post to your Facebook or other social media, so you can copy this content