Is your single premium life insurance policy eligible for tax benefits? Life insurance doesn’t necessarily mean that you have to keep paying the premium every year. There are single premium life insurance (SPLI) policies as well, which provide similar tax benefits of protection and savings as the regular premium ones. The term of SPLI policies […]
Tag Archives: Section 80C
Complete investments, expenditures than can be claim under Section 80C However we already know the deduction available under section 80C of the Income tax Act, 1961. The maximum amount of deduction that can be claimed under section 80C is Rs 150000 for FY 2015-16. The section have many investment options to the taxpayer that not […]
Income Tax Deductions for salaried person The Income Tax Act 1961 provides Income Tax Deductions for salaried prson from gross total income of an assessee, certain deductions there from may be allowed. These deductions detailed in chapter VIA of the said Act which must be distinguished from the exemptions provides in Section 10 of the […]
Latest amendments to Life insurance policies eligible for deduction Under Section 80C Through life Insurance Policies individuals and HUF can save major tax .Lots of major changes have done in Section 194DA on payment of premiums which can be easily understand through below article.Amendments to section 80C – Tax Effect on Life Insurance Policies:-While claiming […]