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<h1>Health insurance premiums paid non-cash by employers are deductible under Section 36(1)(ib) with no monetary limit.</h1> The insurance premium paid for employees' health insurance, provided it is paid by any mode other than cash, is a deductible business expenditure under Section 36(1)(ib) of the Income Tax Act. There is no monetary limit on this deduction. The premium must be paid to a General Insurance Company or any insurer approved by the Insurance Regulatory and Development Authority (IRDA) to qualify for the deduction.