6 min read
Updated on Mar 07, 2023
As the saying goes, Health is wealth, and to maintain good health you need to give it utmost priority. Hence it confirms the importance of getting regular preventive health check-ups. Rather than waiting for a disease to strike you, it is always better to keep a check on your health. This way, the disease can be diagnosed sooner, and you don’t have to spend thousands of rupees in curing it.
Apart from the health benefits, preventive health check-ups benefit you in terms of tax deductions as well. You can use the preventive health checkup Section 80D proof to get a concession on the income tax you pay.
In this article, we are discussing the various advantages of getting preventive health check-ups as well as will talk about the benefits in terms of tax deductions that you can enjoy by means of regular check-ups.
Anyone who has bought a health insurance policy for themselves and their family and is an individual or a member of a HUF (Hindu Undivided Family) is eligible to claim tax deductions under Section 80D of up to INR 25,000.
No, there is no proof or documentation needed to avail 80D deductions but you should keep receipts with you as proof which might be required later.
Now, the first question that might come to your mind here is – Do you really need a preventive health check-up? Let us find the answer to this very important question.
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Like servicing is essential for smooth running of most machinery, our body, which is also like an intense machine that works efficiently and helps us keep going, requires preventive check-ups. So, our health deserves regular check-ups. However, we tend to avoid preventive check-ups and ignore our body most of the time.
In many cases people are seen rushing to the doctor with a sudden feeling of pain or uneasiness in their body. The doctor prescribes medicine and tests to them. Once they take the medicine and relieve their discomfort, people tend to forget about the tests required to be performed. This is generally the case with most of us. And then one fine day, the body hits hard on us by giving up proper functioning and causing you immense hospital expenses.
Thus, to avoid such situations it is necessary to get regular check-ups, and health insurance is a sure shot way of getting health check-ups without worrying much about your finances. So, getting a mediclaim policy that offers enough security against critical diseases as well as covers your preventive health check-ups is important so that you can mitigate the sudden medical shocks.
Yes, you can reduce your health challenges by pursuing Preventive health check-ups, but it must be done regularly on standard intervals like annual, biannual, and so on. Besides, you are also getting benefits of tax by means of preventive health check-up 80D proof.
Now, let us discuss another important question, which is, whether you can get Tax Deductions on preventive health check-ups or not.
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Yes, of course. Preventive health check-up does have a role to play in your income tax returns and tax deductions, and it was implemented by law in the year 2013-14.
Below are rules for claiming preventive health checkup deduction on income tax:
Let us understand the calculation of the deduction by means of an example in different situations of a Mediclaim insurance premium:
Premium paid – Rs. 15,000
Cost of preventive health check-up – Rs. 10,000
So, tax deduction under Section 80D would be – Rs. 15,000 + Rs. 5,000 = Rs. 20,000
As mentioned above, irrespective of the preventive health check-up expense, the tax deduction cannot go beyond the overall tax deduction limit, which is 25,000 rupees. Further, this deduction can be claimed even if you don’t have a mediclaim policy.
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We all know that there has been a huge rise in lifestyle disorders lately. Moreover, irrespective of age, lifestyle diseases are engulfing one and all. So, it is better to get preventive health check-ups regularly to avoid unwanted ailments and diseases in life. Further, the tax benefits on preventive health check up 80D also serves as an added advantage that has been introduced by the Indian government to support health needs of people.
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Preventive healthcare refers to actions you can take to ward off various illnesses. This includes getting immunizations and flu shots, as well as choosing to have blood work done, cancer screenings, blood pressure and cholesterol checks, diabetes screenings, HIV screenings, and more.
Individuals who receive preventive health examinations are eligible for tax deductions of up to INR 5000 per fiscal year under Section 80D of the Income Tax Act.
One can claim a maximum amount of INR 5000 per financial year against preventive health check-ups.
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