While filing the Income Tax Return (ITR), Arup Sahay (name changed) got confused while putting the amount of health insurance premium u/s 80D. He had paid premium of over Rs 59,000 on the family floater policy for two years on January 2020, but the insurance company, in the 80D Certificate for the purpose of claiming tax benefits u/s 80D, had divided the premium in three Financial Years (FY) – FY 2019-20, FY 2020-21 and FY 2021-22 – as the 2-year policy overlaps the three FYs.
Health, life insurance premiums need a tax cut? GoM to meet on October 19
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