YONO SBI: Here’s How You Can File Your Income Tax Deductions Under 80D

According to Section 80D of the Income Tax Act, an assessee can claim a tax benefit for medical insurance premiums paid for self, spouse, dependent parents or children, with an additional deduction of Rs 25000 obtainable for insurance paid for parents under the age of 60, and a deduction of Rs 50,000 for parents over the age of 60. However, the country's largest lender, State Bank of India, has recently said that taxpayers can now claim the 80D deduction without paying for their parent's health insurance premiums. "Now save more! Avail 80D Deduction without paying Health Insurance premium for your parents. Simply log in to YONO & file your ITR with Tax2win for FREE," said SBI in a Tweet.

Documents required to file an income tax return with SBI YONO

According to a Tweet by SBI, taxpayers are only required to keep 5 documents handy while filing their income tax return using SBI YONO. "Do you want to file an ITR? You can do it FREE with Tax2win on YONO. All you need is 5 documents," SBI said in a Tweet. The 5 necessary documents are as follows:

1. PAN Card
2. Aadhaar Card
3. Form-16
4. Tax deduction details
5. Interest Income Certificates
6. Investment proof for tax savings

Benefits of filing income tax returns early

By filing your income tax return early, you can get exciting benefits. "You get exciting benefits on filing your ITR early with Tax2win on YONO. Besides FREE filing, you also get early refunds, enough time to reconcile, and more," said SBI in a tweet. Here is the list of benefits that you can avail of by filling your IT returns as early as possible.

• Get the lowest price for early birds.
• Early filing, early refunds
• Avoid the last-minute hassle
• Get enough time to rectify errors if any

How to file claim deductions under 80D using YONO SBI?

According to SBI, you can claim an 80D deduction without having to pay health insurance premiums for your parents. All you have to do is file your ITR on YONO SBI with Tax2win and get all relevant tax deductions. Not only this you can also get eCA assistance at just Rs 199 and the offer is valid 31st October 2021. To file your income tax return using YONO SBI follow the steps listed below:

• Login to YONO SBI using the required credentials such as Username and Password.
• Go to the 'Shop & Order' section and tap on 'Tax & Investment'
• Now tap on 'Tax2win' and proceed further to file your income tax return in order to claim all eligible deductions.