Hi,
I had made a claim for my wifes maternity hospitalization. I could not avail a cashless hence the hospitalization expenses were paid by me. I later on claimed this amount and the claim was settled.
Now the question is this reimbursement amount taxable? do i have to declare this during filing of my Income tax return. If it is not taxable should i show it under the exempt income category? Can you kindly help me with this query.
3 Answers
Hi,
I believe that Mediclaim received is not taxable because it doesn't fall under any of the five heads of income I.e.
1. Income under the head salary.
2. Income under the head HP.
3. Income under the Head PGBP.
4. Income under the head Capital Gains.
5. Income under the head Income from other sources.
The amount you've received from the Insurance company is in settlement of the medical expenses that you've already incurred,i.e, it is in the nature of a re-imbursement of the expenses.
The amount you've received from the Insurance company is in settlement of the medical expenses that you've already incurred,i.e, it is in the nature of a re-imbursement of the expenses.
Thanks Sreekanth
I have taken annual medical checkup of Rs 4833 and health insurance premium of Rs. 39620 for 3 yrs. tenure, Now i want to know how to take tax rebate and fill-up the details in ITR filing.
Hi Suvin,
You can claim the premium amount under section 80D in ITR form.
The extent of claim depends on certain conditions/threshold limits.
Kindly read :
Next time, request you to post your queries in a separate thread as NEW question.
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