Provide the criteria on how a medical policy must satisfy before a taxpayer can claim a deduction for Premium for insurance for medical benefits under subsection 49(1B) Income Tax Act 1967. Please give explaination breifly with example

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 Provide the criteria on how a medical policy must satisfy before a taxpayer
can claim a deduction for Premium for insurance for medical benefits under
subsection 49(1B) Income Tax Act 1967. Please give explaination breifly with example

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