Question
Corona Kavach is a health insurance policy designed to
cover the hospitalisation and medical expenses arising out of COVID-19 treatment. The premium paid on this policy is eligible for tax benefits under which if the following sections of the Income Tax Act?Solution
Section 80 D of Income Tax Act, 1961 deals with tax deductions on medical insurance premiums paid for medical insurance taken for self, spouse, dependent children or parents. An individual can claim a deduction of up to Rs 25,000 for the insurance of self, spouse, and dependent children. An additional/separate deduction for parents’ insurance is available to the extent of Rs 25,000 if they are less than 60 years of age, or Rs 50,000 if your parents are aged above 60. Section 80D includes a deduction of Rs 5,000 for any payments made towards preventive health check-ups . This deduction will be within the overall limit of Rs 25,000/Rs 50,000, as the case may be.
According to the IRDA Act, 1999 intermediary or insurance intermediary includes__________________
According to Section 5of the IRDA Act, what is the tenure of office for the Chairperson and other whole-time members?
Consensus ad idem means
What is the effect of violation of the rule: “Audi Alteram Partem” on an administrative action?
Which of the following is not an exception to the general principle that ‘hearsay evidence is no evidence’ ?
What is the objective of Payment and Settlements Act?
A small company is a company whose paid-up capital and turn over shall________________
In tort law, what is the term for a wrongful act that leads to confinement or restraint of another person against their will?
How are the assets of any insurer in India be kept as per the Insurance Act, 1938?
After dissolution of the firm, goodwill of the firm __.
