Senior Citizen parental’s medical bills can save you taxes| With Auto fill Income Tax Preparation Software All in One in Excel for the West Bengal State Employees for the F.Y.2021-22 as per Budget 2021

 Senior Citizen parental medical bills can save you taxes. With COVID's second wave in full swing,

 health insurance seems like an unavoidable requirement that also gives you tax benefits under Sec 80D.

 

But here’s the catch - health insurance premiums for senior citizens are either too high or unavailable, especially for those with pre-existing conditions. Don't worry - did you know that even your senior citizen's parents' medical bills can save you taxes?

Let's find out how it works

You may also, like- Autofill Income Tax Preparation Excel Based Software All in One for the Non-GovtEmployees for the F.Y.2021-22[ This Excel Utility can prepare at a time your Tax Computed Sheet as per Section 115 BAC + Auto Calculate House Rent Exemption Calculation U/s 10(13A) + Automated Income Tax Form 12 BA + Automated Income Tax Form 16 Part A&B and Part B as per new and old tax regime]

Medical expenses incurred for senior citizens 60 years of age or older are reasonable.

This waiver claim may include parents (spouses or dependent children) for themselves (senior citizens themselves) or families.

 

The person for whom the discount has been claimed is not covered by any health insurance.

 

All medical expenses, from counselling fees to medications, or the purchase of devices such as hearing aids, are permitted. A proof will be required.

Most importantly - no payments made in cash are allowed.

 

The limit of medical expenses is the same as that allowed for health insurance which is Rs 50,000 per year for parents and Rs. Separate annual Rs. 50,000 for self, wife or dependent children (if senior citizen).

 

This year, as there are plenty of examples of people who spend money on treatments related to covid, make sure you make good use of this facility to save your taxes.

Download Autofill Income Tax Preparation Excel BasedSoftware All in One for the West Bengal Government Employees for theF.Y.2021-22

Main Feature of this Excel Utility:-

 

#This Excel Utility can prepare at a time your Tax Computed Sheet as per Section 115BAC

 

#Auto Calculate House Rent Exemption Calculation U/s 10(13A)

 

#Automated Income Tax Form 16 Part A&B

 

#Automated Income Tax Form 16 Part B

 

# Individual Salary Structure as per W.B.Govt Employees Salary Pattern