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For a multi-year health policy paid in one go, 80D allows the deduction spread equally over the policy years, within the yearly limit.
ITR
Multi-year health policy premium paid upfront
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Provisions
Sec 80D, Income-tax Act 1961 (now Sec 126)
Analysis
₹60,000 for three years gives ₹20,000 a year, which you claim this year and the next two years, within the ₹25,000 limit each year. Claiming ₹60,000 in one year will be cut. Keep the policy document showing the term.
Close
- Check the policy term on the document.
- Divide premium by the number of years.
- Claim one share each year.
- Keep the receipt for all years.
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