Thursday, February 28, 2013
INCOME TAX RELIEF FOR CGHS CONTRIBUTION UNDER SECTION 80D
Benefit under Section 80-D of the Income Tax Act for CGHS Extended to Similar Schemes of the Central Government and State Governments
The Finance Bill 2013 proposes extension of benefits under Section 80-D of the Income Tax Act to such schemes of the Central Govt and State Govts that are similar to Central Govt. Health Scheme(CGHS). Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that contributions made to CGHS are eligible for deduction under Section 80-D of the Income Tax Act and he is proposing to extend the same benefit to similar schemes of the Central Govt and State Govt. The Finance Minister also announced that deductions made to the National Children’s Fund will now be eligible for 100% deduction.