IT benefit against medical bills

POSTED BY Finance Student ON July 28, 2013 1:56 am COMMENTS (5)

Hi,

Please let me know how much I am allowed to be benefited from medical bills.

I heard it is 15k for myself and additional 20k for my senior citizen parents….total 35K I may claim…Am I right?

5 replies on this article “IT benefit against medical bills”

  1. Sudha Raj says:

    sorry, posted in wrong thread. Couldn’t delete.

  2. Sudha Raj says:

    Hi, I worked for 2 companies between May 2005 and Nov 2009. When I resigned in 2009, I opted to withdraw EPF for my marriage plans, without aware of its 5 year tax deduction scheme. I followed up for 2 years and continued working, and later in June 2011, they asked me to send a mail request again for withdrawal after which I got a cheque in July 2011 with 30% tax deducted.( i got the cheque after the marriage, so the purpose of early withdrawal was not acheived, and tax was deducted)

    Is this amount deducted claimable, as I have sent the email request again after 6 years, but the written request was sent before 5 years period. Please suggest.

  3. Muthu Krishnan V says:

    the 15K limit on medical bills is allowed in case the employer provides it and it is not a general exemption.

    Income Tax Section 10 – Your Medical Treatment Expenses Reimbursement

    Section 10 provides exemption for your medical treatment expenses, provided you have medical reimbursement as perquisite from your employer. That is your medical reimbursement exemption is applicable only when medical reimbursement is part of your salary package
    Exemption is provided on medical treatment expenses on you and your family members for any disease. Expenses on cosmetic treatment and eye-glasses are not included
    Exemption limit is Rs 15,000 per year
    Your medical reimbursement amount should be supported by your medical bills and prescriptions corresponding to the medical bills

  4. Finance Student says:

    please make sure that I am talking about medical bills, not the medical insurance.

    1. Mohit Pandey says:

      Dear Student, 15k is max limit for medical bills.
      20k whatever you mentioned above is for medical insurance.

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