Claim Tax Deduction for Buying Medicine for Your Parents or Maybe Yourself Also !

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tax deductionWell , this headlines maybe quite interesting for many taxpayers in India .Many of us have parents who are quite old and only big expense associated with them maybe medicine. So , when a provision in the Income Tax Act was brought to incetivize the younger generation to spend on very old parents by buying medicine or on other health related issues , it  shows the sensitiveness of the government of the day . Now the deduction for expenditure on health of old parents are available only if  you do not buy health insurance for them ! So this post is just a reminder about a good provision in the Act …..

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