Departments > Blogs > Healthy Body, Healthy Wallet: The Tax Benefits of Checkups
Did you know that health examinations can help you save taxes in addition to safeguarding your health? Health checkups qualify for tax benefits by law through the Income Tax Act thereby delivering benefits to both medical wellness and financial resources. Discover how you can use medical checkups to save taxes while learning about the tax brackets slated for 2024-2025.
Why Opt for Health Checkups?
Health checkups allow medical professionals to identify developing health problems while still having time for proper treatment. Through regular screenings, doctors identify chronic diseases such as diabetes, high blood pressure and heart conditions, thus allowing you to start making better lifestyle choices. Government support for preventive care appears through healthcare screening tax benefits.
Tax Benefits Under Section 80D
Under Section 80D of the Income Tax Act, taxpayers regain tax benefits when they pay health insurance premiums and get preventative medical examinations.
Here’s how it works:
Individual and Family Coverage:
Preventive Health Checkups:
Expenses for preventive health examinations for you and your family can be deducted up to Rs 5,000, within the overall limit.
By utilising these deductions, you can lower your taxable income and put your health first.
New Tax Slabs for FY 2024-2025
The latest tax slabs for individuals under the new regime are as follows:
Income Range | Tax Rate |
Up to Rs 3,00,000 | Nil |
Rs 3,00,001 to Rs 6,00,000 | 5% |
Rs 6,00,001 to Rs 9,00,000 | 10% |
Rs 9,00,001 to Rs 12,00,000 | 15% |
Rs 12,00,001 to Rs 15,00,000 | 20% |
Above Rs 15,00,000 | 30% |
The new taxation system features a simplified format while keeping only limited deductions safe from elimination such as health insurance deductions under Section 80D and preventive checkups.
Why Choose Apollo Diagnostics for Health Checkups?
Apollo Diagnostics offers personalized health checkup packages which align with your specific requirements. Modern technology in combination with medical experts furnishes both prompt reporting results and precise healthcare information. The best part, you may save Rs 5,000 from your taxes by choosing Apollo Diagnostics health checkups since they apply to Section 80D. A health checkup will both secure your wellness and function as a profitable monetary decision.
Conclusion
Preventive health checkups ensure both medical safety and tax deduction opportunities that help decrease your financial responsibility. There exists no valid excuse to postpone your health examination when you can enjoy the twin advantages of wellness protection combined with tax incentives. The tax deductions under Section 80D reach up to Rs 5,000 at Apollo Diagnostics when you make your health investments.
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