Deduction under section 80D: The Ultimate guide

Deduction under section 80D is available for mediclaim insurance paid during the previous year. It is covered under chapter VI of income tax act. Who can use deduction under section 80D? Only individual and HUF can use section 80D deduction.   Whose insurance should be taken to get benefit of deduction of mediclaim insurance? Individual: individual can take medical insurance for himself, spouse, dependent parents or dependent children. HUF : HUF can take medical insurance for any member of HUF. Maximum limit of deduction u/s section 80D: Deduction 80D is available over and above the deduction under section 80C...

Read More