Yash pays health insurance premiums for himself, his wife and his two children aged 13 and 8. Premiums for which of these individuals will qualify as deductible from Yash’s taxable income?

A. Yash only

B. Yash and his wife only

C. Yash, his wife and his oldest child

D. Yash, his wife and both his children

Answer: Option D

Solution(By Examveda Team)

Yash pays health insurance premiums for himself, his wife and his two children aged 13 and 8. Premiums for Yash, his wife and both his children will qualify as deductible from Yash’s taxable income.