Are You Looking To Save Tax? But Taking A Health Insurance Policy Can Also Save Tax. But Here The Benefit Varies On The Basis Of Age.
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Are you looking to save tax? But good news, An option is available for you, Taking health insurance can also save tax, How much benefit can be availed varies on the basis of age
If You Want To Save Tax For The Financial Year 2021-22, The Deadline Is 31st March. In The Meantime You Should Invest in Tax Saving Investment Instruments. Otherwise it is not Possible To Save Tax. If You Have already Exceeded The Exemption Limit of Rs.1.5 Lakhs Under Section 80c, Section 80D can be considered.
If You Want To Get Tax Exemption Benefits Under Section 80d.. You Definitely Need to Take A Health Insurance Plan. Health Insurance Plan Premium Amount is tax deductible. This is in Addition To Section 80c. By Buying A Health insurance plan, you Can Save Up To Rs. But This Is Possible Only If Your Parents Are Above 60 Years Of Age.
A Health Insurance Policy Must Be Purchased To Get Tax Exemption Under Section 80D of the Income Tax Act. Maximum tax savings can be up to Rs.25 Thousand Or Rs.50 Thousand. But this Benefit Varies Based On Your Age. If You are Older, You Can Avail The Benefit up to Rs.
Health Insurance Premium Can Be Claimed Under Tax Deduction. Those Who Are Under 60 Years Of Age Have a Chance To Save Up To Rs.25 Thousand in this Tax. Those Aged 60 Years Or Above Can Save Up To Rs.50 Thousand in tax. This Means That If You Are Under 60 Years Of Age And You Take A Health Insurance Policy For Your Parents, You Can Save Up To Rs.75 Thousand In Tax.
Same as Your Age, If Your Parents Age is Above 60 Years Then You Can Save Tax Up To Rs. So If You Want To Save Tax Then Take Health Insurance Policy. Whatever You Do Must Be Done By March 31. Otherwise There Will Be No Opportunity to Save Tax Later.