Serving over 15 lakh customers in over 200 cities in India.
Contact me via
Do you want Exide Life to contact you?
Thank you for visiting our website. We are in receipt of your query. Our customer
services executive will get in touch with you shortly.
Investments are often looked upon as safety measures to secure your future. You invest today, so that your future remains financially secure, free from debts or financial favours extended by anyone. Investments provide the necessary financial independence for the future. Apart from that, majority of them help you save on the valuable amount of income tax, which eats away a major chunk of your income.
There are a variety of financial tools available to save income tax, life insurance policy is said to be one of the most effective tax saving options. There are two kinds of income tax benefits available for individuals who have made investments under life insurance policies:-
Premiums paid under life insurance policies are eligible for deduction under Section 80C of the Income-tax Act, 1961, as under:
Any premium paid for purchasing annuity plan of Life insurer for receiving pension from the Pension fund, shall be allowed as deduction under section 80CCC.
Any sum received under a Life insurance policy such as maturity proceeds or death benefits is exempt from tax, subject to fulfilment of the conditions as mentioned in Section 10 (10D).
As evident from the above, life insurance policies continue to be the most preferred tax saving instruments. Further, regardless of the type of life insurance plan, considerable tax saving is assured. The exemptions/deductions towards premiums as well as other benefits of life insurance policies help to avail substantial tax savings, which make life insurance policies an important tax saving tool that one must consider.
Accordingly, plan your investments today and save maximum tax.
Exide Life Insurance is ready to assist you to save tax not only on investment made today but also on the returns that you earn tomorrow – so that you and you can maximize the return on your investment.
You may also like;