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  1. #1

    Default Save tax through health insurance policy

    Hi friends......how can i save tax through health insurance policy in India

  2. #2

    Default

    The sole motive of purchasing a health insurance policy should be risk cover rather than investment benefits. Thus there are no investment benefits attached to medical insurance policy in India except tax benefits.
    One can avail following tax benefits under a medical insurance policy,
    a) Rebate of Rs 15000 for health insurance premium paid for self and family
    b) Rebate of Rs 15000 for health insurance premium paid for parents, Rs 20000 in case the parents are senior citizens. Thus one can avail maximum tax benefits of upto Rs 35000 with a health insurance coverage.
    Last edited by radhikasood; 1st August 2011 at 05:40 PM.


 
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