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of <h1>Panacea Hospital Gains 3-Year Approval for Tax-Exempt Employee Medical Expenses Under Income Tax Act, 1961</h1> The Panacea Multi Super Specialty Hospital in Kanpur has been approved under the Income Tax Act, 1961, allowing medical expenses incurred by employees for specific ailments at this hospital to be exempt from taxation. This exemption applies to diseases such as cancer, tuberculosis, heart and respiratory ailments requiring surgery, fractures, and certain mental disorders requiring extended hospital treatment. The approval is valid for three years, from December 17, 2024, to December 16, 2027, and is subject to compliance with statutory conditions. The hospital must remain open for inspection and apply for renewal 60 days before the current approval expires.
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