Question 1

What tax deductions are available for Doctors?

Accepted Answer

Doctors can claim: Section 80C (EPF, PPF, LIC, ELSS - up to ₹1.5 lakh), Section 80D (Health Insurance - up to ₹1 lakh for self + parents), Section 80CCD (NPS - up to ₹50,000), Section 24b (Home Loan Interest - up to ₹2 lakh), and professional tax deduction.

Question 2

Can doctors claim medical equipment as tax deduction?

Accepted Answer

Yes, under Section 80DD, you can claim ₹75,000 for medical treatment of dependent with disability. Also, under Section 80D, you can claim preventive health check-up up to ₹5,000.

Question 3

Which tax regime is better for Doctors?

Accepted Answer

For high-income doctors (₹20+ lakh), the New Tax Regime is usually better due to lower slab rates. However, if you have high home loan interest, school fees for children (under 80D), and can maximize deductions, compare both as Old Regime may save more.

Question 4

Can doctors claim NPS contribution?

Accepted Answer

Yes! NPS gives additional tax benefit under Section 80CCD(1B) - you can invest up to ₹50,000 extra in NPS and claim tax deduction over and above the 80C limit of ₹1.5 lakh.

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