State the correct option

A. Premium paid by a client for health cover enjoys income tax deduction under 80.C of the Income Tax Act

B. Premium paid towards health cover earns income tax rebate under sec.80D of the Income Tax Act

C. Premium paid for a health cover does not qualify for tax benefit under any provision of the Income Tax Act

D. There is no upper limit to sum assured in a health insurance policy

Answer: Option B

Solution(By Examveda Team)

Premium paid towards health cover earns income tax rebate under sec.80D of the Income Tax Act. The benefit is available to individuals on health insurance premium paid for self, spouse, children and parents. Importantly, it does not matter whether the children or parents are dependent on you or not.