Tax Certificate 1
Tax Certificate 1
Tax Certificate 1
1. Premium paid for life insurance plans and accidental death rider is eligible for deduction under Section 80C of the Act.
Deduction under Section 80C is available for the amount of premium paid in the current financial year.
2. Contribution towards pension fund is eligible for deduction under Section 80CCC of the Act.
3. The overall limit prescribed for deduction available under Section 80C, Section 80CCC and Section 80CCD of the Act
is Rs.1, 50,000.
4. Premium paid for Health Insurance policies and Health riders like Critical Illness rider and Surgical Care rider is eligible
for deduction under Section 80D of the Act up to maximum of Rs. 25,000/- or Rs. 30,000/-for senior citizens. In addition
to this, if the premium has been paid to insure parents is eligible for deduction under section 80D of the Act up to Rs.
25,000/- or Rs. 30,000/-for senior citizens.
5. The Annual premiums shown in the table is inclusive of coverage premium paid towards Riders (if any).
This letter is based on our understanding and interpretation of laws and does not express any opinion. Tax benefits are
available subject to fulfillment of conditions specified in the respective sections and to the extent of extant laws. As per the
Current provision of Section 194DA of the Act; the policy proceeds are subject to TDS if conditions prescribed under Section
10(10D) are not met. This is generic information of Tax laws. Please consult your tax advisor before taking the final position
regarding tax benefits. We do not accept any liability arising from the use of this document. The recipients of this material
should rely on their own investigations.