Tax deductions on preventive health check-ups? 🏥 🩺
In a recent survey, it was found that around 68% of the urban population in India 🇮🇳 does not get health check-ups. Experts suggest taking a preventive health check-up once every year.
A preventive health check-up will help identify and diagnose medical conditions at their preliminary stages. Medical conditions can be contained and avoided easier when discovered at the early stage. 🙌🏻
Failure to get yourself diagnosed can cost you big time in terms of health and wealth if you are carrying a disease or condition in its later stages. ❌
To promote preventive health checkups, the government has also extended the deduction under section 80G to these checkups. Any cost incurred up to a maximum of INR 5,000 incurred for you or your spouse & kids can be claimed as a deduction. 💰
You can also claim a further deduction of up to INR 5,000 for any costs relating to preventive health checks you made for your parents. 👨👩👧👦
So a maximum of IINR 10,000 can be claimed as a deduction which at the highest tax slab saves you INR 3,000. 💴
It is important to note that the INR 5,000 deduction is covered under the INR 25,000 limit provided under 80G for regular individuals and INR 50,000 for senior citizen parents 🧓🏻👵🏻
➡️ When was the last time you had a checkup done? Tell in the comments below.
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23 сен 2024
