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Mar 2024

How do full body health checkup packages help you save on taxes?

Posted By Suborna Fermi Posted on Mar 18, 2024

Our modern lifestyle is so lavish with unhealthy and sedentary habits that preventing diseases has become a challenge nowadays. And not only a bad lifestyle, people are also neglecting regular health checkups due to their busy schedules.

Getting regular health checkups is as important as having a healthy lifestyle. Unfortunately, there are a huge number of people who are unaware of the impact of neglecting health checkups.

There is no doubt that a full body health checkup has a lot of advantages to offer. It not only examines your complete health; it also motivates you to lead a healthy life. The best part is that with a full body checkup package, you can also save on taxes.

What is a full body checkup?

A full body checkup is an essential part of preventive health measures that involves a complete checkup of your entire body. The checkup examines different organs, their functions, and enzyme levels.

Going for a regular checkup can help detect an issue even before it causes symptoms. However, which full body checkup package is appropriate for you, may depend on various factors, such as your age, sex, medical history, family health history, and current health status.

The tests that are generally included in a full body checkup package include:

  • Complete blood count
  • Thyroid profile test
  • Vitamin profile test
  • Kidney function test
  • Liver function test
  • Blood sugar test
  • Cardiac risk markers

How do full body health checkups help with tax deductions?

The Indian government has announced that preventive health checkup packages qualify for a tax deduction of Rs. 5,000 every financial year under Section 80D of the Income Tax Act, 1961.

According to Section 80D of the Income Tax Act, 1961, you can get a deduction of 25,000 rupees on the expenditure on preventive health checkups purchased for yourself, your spouse, or your family.

In addition, if your parents are under 60 years old, you may be eligible for an extra tax deduction of up to 25,000 rupees for their insurance. If your parent is 60 years of age or older, then the amount of deduction will increase up to Rs. 50,000.

By making the choice to go for a preventive health checkup for yourself and your family, you are not only aware of determining your potential risk of developing diseases, but you are also saving quite a huge amount of money on taxes.