Tag Archives | Income Tax Return

Did you get Medical Reimbursement?

Medical reimbursement via employer is a good way to save on Income Tax. Income Tax Act allows you an exemption of upto Rs 15,000 per financial year. Note that this tax exemption is available via the employer as a tax-free reimbursement. So you’ll have to submit your medical expenses receipts to your employer to get the […]

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Do you pay medical premium?

In case you pay medical premium for yourself and your family, then you can claim a tax deduction under Section 80D. The Income Tax Act splits the deduction under two heads.  1. Medical Premium paid by you for your parents: Maximum available is Rs. 15,000. If your parents are senior citizens, then Rs. 20,000. 2. […]

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