GK
TAXES IN INDIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Deduction under section 80D in respect of medical insurance premium is allowed to:
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Any assessee
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Individual only
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An individual or HUF
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Individual or HUF who is resident in India
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Explanation:
Detailed explanation-1: -The taxpayer (being individual/HUF) can claim deduction under section 80D in respect of medical insurance premium paid by him in any mode other than cash. However, payment on account of preventive health check-up can be made in cash.
Detailed explanation-2: -No deduction on the following amounts shall be allowed under section 80D: Premiums paid in cash (except for preventive health check ups) Premiums and expenses paid by a person other than the taxpayer.
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