Deduction for health insurance premiums expanded to benefit employers and individuals under approved schemes and limits. Amendments provide a deduction for health insurance premiums: employers may deduct premiums paid by cheque for employee schemes approved through the General Insurance Corporation without a monetary ceiling, and a new individual deduction permits a limited annual deduction for premiums paid by cheque covering the assessee, spouse, dependent parents or children and certain small family entities. Bank bad debt provisions are split into a rural advances based cap and a separate cap based on total income applicable to all banks, and the deduction for profits from projects executed outside India is increased to encourage overseas projects.
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Provisions expressly mentioned in the judgment/order text.
Deduction for health insurance premiums expanded to benefit employers and individuals under approved schemes and limits.
Amendments provide a deduction for health insurance premiums: employers may deduct premiums paid by cheque for employee schemes approved through the General Insurance Corporation without a monetary ceiling, and a new individual deduction permits a limited annual deduction for premiums paid by cheque covering the assessee, spouse, dependent parents or children and certain small family entities. Bank bad debt provisions are split into a rural advances based cap and a separate cap based on total income applicable to all banks, and the deduction for profits from projects executed outside India is increased to encourage overseas projects.
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