Premium for insurance on health of employees - Section 36(1)(ib) - Income Tax - Ready Reckoner - Income Tax

Premium for insurance on health of employees - Section 36(1)(ib) The amount of Insurance premium paid by any mode other than cash on health of employees to an insurance company is allowable expenditure. There is no monetary ceiling for this deduction The premium paid can be claimed as a deduction if it is paid to General Insurance Company or any other insurer approved by IRDA.