Why are medical bills not tax exempt?
In his speech on May 12, 2020, Prime Minister Narendra Modi coined the term “Aatmanirbhar Bharat” (Autonomous India) and launched Aatmanirbhar Bharat Abhiyan. What happened instead was not Aatmanirbhar Bharat but Aatmanirbhar Bharatiya (Autonomous Indian), for each Indian was left to himself. Ministers from various governments of the Bharatiya Janata Party (BJP), both in the Center and in the States, have responded to the crisis by constantly proclaiming that all is well and publicly commending each other for every relief measure, however small, they have undertaken. .
In the last fiscal year 2020-21 (and so far in the current fiscal year), the Aatmanirbhar Bharatiya incurred unprecedented medical expenses to procure supplies and services that the government was responsible for. provide them. This is unlikely to change in the coming months. What is in the past cannot be undone. Lives lost cannot be redeemed and suffering cannot be erased. Nor is it reasonable to demand that the hole that medical bills blew in the average Indian family’s bank account be filled by the government. This credit balance will simply be added to the lakh of Rs 15 which has already entered our accounts as part of the black money coming back to us.
There is, however, one thing that can still be done, and indeed should have been done already. And that makes medical expenses, with no cap, a deductible expense for income tax purposes.