Question

Under which section of the Income Tax Act can an individual claim a deduction for the payment of health insurance premiums?

Q: Answer-Under which section of the Income Tax Act can an individual claim a deduction for the payment of hea...

Section 80D offers tax deductions on health insurance premiums of up to a maximum limit of 25,000 in a financial year. You can claim deductions for a policy bought for yourself, your spouse and your dependent children.

A Section 80C

B Section 80CCD

C Section 80D

D Section 80DD

E None of these

Practice Next

More Money and Capital Budgeting Questions

With reference to the Union Budget of India, which of the following statements is correct?
When the Spot price of a Call Option is greater than the Strike Price of an Option, The Option is said to be in:

Relevant for Exams:

Bank of India Credit Officer Scale 1
Bank of India (BOI) Credit officer

Hey! Ask a query

Under which section of the Income Tax Act can an individual claim a deduction for the payment of health insurance premiums?

Detailed Solution

More Money and Capital Budgeting Questions

Relevant for Exams:

Hey! Ask a query

Please Register/Login