- Date : 27/12/2017
- Read: 1 min
Along with meeting medical expenses, your health insurance policy can help save on taxes too.
Conclusion:
As an Indian citizen, you all liable to pay tax on the income you earn. Section 80D is one of many sections of the Income Tax Act that allows you to reduce your tax liability while helping you save on medical expenses simultaneously. Your health insurance policy, therefore, serves a dual purpose – taking responsibility for your medical expenses as well as reducing the amount of tax you pay.
