It is that time of the year when the rush to save tax* begins. Searching for the right option can be a complicated and dull task, which most of us just want to get done with.
But did you know that investing in the right option can give you more than just tax saving? Life insurance is one such option that provides you with a life cover**, helps you Save Tax* & Get More!
LIFE INSURANCE GIVES YOU THE TAX PLUS BENEFIT
Tax benefits offered under the Income Tax Act, 2025:
Section 123 (Read with Schedule XV):
You can get tax benefits up to 46,800* on premiums paid under Section 123 (Read with Schedule XV). This deduction under Section 123 (Read with Schedule XV)* from taxable income can be claimed for an Individual or a HUF.
You can also get tax benefits on premium paid up to 1,50,000 towards pension/retirement policies. However, if you surrender the plan, the pension/annuity received will be taxed as per the existing tax laws
Section 11 (Read with Schedule II to VII):
- 1/3rd of the payment that you receive under the pension plan at the time of retirement is also tax-free*. This is known as commutation.
Section 126:
- You can get tax benefits of up to ₹ 7,800* on health insurance premiums paid for Accelerated Critical Illness benefit@ on Life and Health option and All-in-one option under Section 126 of the Income Tax Act, 2025.
Section 11 (Read with Schedule II to VII):
- 1/3rd of the payment that you receive at the time of retirement is also tax*-free. This is known as commutation.
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