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  • News From Press No tax benefit if mediclaim premium is paid in cash

    No tax benefit if mediclaim premium is paid in cash

    Source: Livemint Aug 4, 2016

     

    I pay the health insurance premiums for both myself (67) and my wife (63). Would I get tax exemptions on both?

    —Shayan Basu

    An individual can claim tax deduction on payment made towards health insurance premium under section 80D of the Income-tax Act, 1961. The deduction can be availed on premium payment for self, spouse, dependent children and parents subject to prescribed conditions.

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