Google Tag Manager Account 6000404159, Google Tag Manager Container ID GTM-M3CM5WR

Deduction for Medical Insurance Premium Under Area 80D With Automated Income Tax Calculator All in One TDS on Salary for Non-Govt Employees for F.Y. 2019-20 ( Including Old and New Tax Regime as per Budget 2020]

Deduction
for Medical Insurance Premium Under Section 80D. Section 80D
gives deduction to an individual or a Hindu unified family towards
medical
insurance premium and preventive health registration or commitment to
Focal
Government Health Plan (CGHS) or any plan told by the Focal Government
on the health of the assessee, his family, guardians or individuals from
the HUF.

Deduction For Medical Insurance Premium U/Sec 80d
Where the assessee is an individual after uses are qualified for
deduction:
        (a) the entire of the
amount paid to impact or to keep in power insurance on the health of the
assessee or his family or “any commitment made to the Focal Government
Health Plan” or such other plan as might be told by the Focal Government
for this sake or any instalment made by virtue of preventive health
registration of the assessee or his family and the whole doesn’t surpass in the
aggregate Rs. 25,000; and
        (b) the entire of the
amount paid to impact or to keep in power insurance on the health of the
parent or guardians of the assessee or any instalment made by virtue of
preventive health registration of the assessee or his family as doesn’t surpass
in the aggregate Rs. 25,000.
        (c) the entire of the
amount paid by virtue of medical use brought about on the health of the
assessee or any individual from his family, who is a senior resident or
exceptionally senior resident and not having medical insurance, as doesn’t
surpass in the aggregate Rs. 50,000.
        (d) the entire of the
amount paid by virtue of medical use caused on the health of any parent of the
assessee who is senior resident or senior resident and not having medical
insurance, as doesn’t surpass in the aggregate Rs. 50,000.
Clarification: family implies the life partner and ward offspring of the
assessee
The instalment will be made by any mode, including money, in regard of any
whole paid by virtue of preventive health registration and by any mode other
then money in all cases other than preventive health check-up.
Where
the assessee is a Hindu unified family, the use qualified for the the deduction, will be aggregate of the accompanying to be specific:
        (a) entire of the amount
paid to impact or to keep in power insurance on the health of any individual
from that Hindu unified Family as doesn’t surpass in the aggregate Rs. 25,000
        (b) entire of the amount
paid by virtue of medical consumption acquired on the health of any senior
resident or senior resident individual from the Hindu unified family as doesn’t
surpass in the aggregate Rs. 50,000 and no amount has been paid to impact or to
keep in power and insurance on the heath of such an individual:
Given Further that the aggregate of the total determined under the
condition (an) and statement (b) will not surpass Rs. 50,000
Clarification: For the motivations behind this sub- Section,
        Senior resident methods and the individual inhabitant in India
who is of the age of sixty years or more whenever during the applicable earlier
year
Deduction under Section 80D is additionally accessible in regard to
commitment to Focal Government Health Plan. Anyway, this deduction isn’t
accessible to HUF. The deduction is accessible to an individual and just in regard
to health insurance approach taken for Singular himself, mate and ward kids. In
the event that an individual takes an insurance strategy on the health of Guardians
whether subordinate or not, deduction under this section won’t be accessible.
Deduction under this Section inside as far as possible, in regard to any
instalment or commitment made by the assessee to such other health conspire as
might be advised by the Focal Government.
Feature of this Excel Utility
1)      This
Excel Utility can prepare at a time Income Tax Computed Sheet + Individual
Salary Structure as per all Non-Govt employees + Automated Form 12 BA +
Automated Income Tax Revised Form 16 Part A&B and Part B
2)      This Excel Utility can prepare both of Old
Tax Regime and New Tax Regime as per new Income Tax Section 115BAC ( As per
this New Section you can give your option that you can choose your Tax Slab as
Old Tax Regime i.e. F.Y. 2019-20 with all deduction and exemption as per F.Y.
2019-20 And If you Choice the New Tax Slab, then you can not avail the any income
Tax Benefits as per F.Y.2019-20. But this New Tax Slab is beneficial to the tax
payers as there have a one another Tax Slab i.e. From 5,00,001/- to 7,50,000/-
 10per cent. This Tax slab can not
availed the Old Tax Benefits.


Leave a Reply

error: Content is protected !!