Sentences with phrase «of income tax act»

Yes, the premium you pay on the term insurance policy has a maximum tax benefit of Rs 1.5 lakh under section 80C of the Income Tax Act, 1961.

The death benefit your family receives from the endowment life plan is tax free under Section 10 (10d) of the income tax act even if the premiums paid in any year exceeds 10 % of the sum assured on the endowment life plan.

The premiums paid for the plan, besides being low, also save taxes under Section 80C of the Income Tax Act.

Premiums paid for all life insurance policies, including that for a term insurance plan are exempt from taxation under Sec 80 C of the Income Tax Act, 1961 upto a maximum of Rs 1.5 Lacs.

The entire proceeds of such payouts is exempted under section 10 (10D) of Income Tax Act, 1961.

Avail Tax Exemption: You get a tax deduction for the premium you pay under Section 80C, and any income from the plan is tax - free under Section 10 (10) D of the Income Tax Act

The premiums paid for the plan qualify for deductions under Section 80C of the Income Tax Act and the sum assured is tax - free as well.

You can also avail tax benefits on the premiums and payouts under section 80C and 10 (10 D) of the Income Tax Act.

Tax exemptions are covered under section 80C of the income tax Act on premium amounts.

As per the Section 80C of Income Tax Act, 1961, all the premiums paid towards the policy are tax exempted.

Along with the tax benefit under section 80C and section 10 (10D) of Income Tax Act 1961, this plan also offers single and limited payment options for the policyholder.

The claim / maturity amount received by the beneficiaries or bonus in the hands of the policyholder is tax - free under Section 10 (10D) of the Income Tax Act.

Tax Benefit: Income tax benefit on the premium paid as per Section 80 C and the claim amount received as per the Section 10 (10D) of the Income Tax Act.

Meanwhile, during the policy premium payment period, you can claim tax benefit of up to Rs 1.5 lakh under section 80C of the Income Tax Act.

The premium paid for the purchase of Critical illness benefit option is exempt under Sec 80D of Income Tax Act.

The premium amount that is paid for the pension plan is exempts the tax under the section 80 CC of the Income Tax Act.

The policy offers tax benefits as applicable under section 80 C and 10 (10D) as per provisions of the Income Tax Act, 1961.

The payout paid to the nominee is tax free under the Section 10 (10D) of Income Tax Act, 1961.

Under section 80C of the Income Tax Act, 1961, all premiums of up till INR 1 lakh under this policy are exempted from taxation.

Tax benefits are eligible for tax exemption on fulfilling conditions mentioned under Section 10 (10D) of income tax act 1961.

iTerm is also tax - efficient — you can claim tax deductions on the premiums paid under Section 80C, and 10 (10 D) of the Income Tax Act

Just like a health insurance policy, you can get tax deductions for your critical illness plan under Section 80D of the Income Tax Act.

Tax will be deducted at the applicable rate from the payments made under the policy, as per the provisions of the Income Tax Act, 1961.

Also, the government deems any claim amount availed by the beneficiaries or a bonus of the policyholders as tax free under the Section 10 (10D) of the Income Tax Act.

Premiums: Under Section 80C of the Income Tax Act, 1961, all life insurance policy premiums are exempt from tax within a limit of Rs. 1 lakh per year.

Tax benefits are as per the provisions of the Income Tax Act, 1961 and the same are subject to amendments made thereto from time to time.

The aggregate deduction available under section 80C, section 80CCC and section 80CCD (1) of the Income Tax Act is restricted to INR 1,50,000 / -.

Life insurance premium paid by you for your family (spouse / child) qualifies for deduction under Section 80C of the Income Tax Act, 1961.

Tax Benefit: All the premiums paid and claims received are eligible for tax deductions Under Section 80C and 10 (10D) of Income Tax Act.

Premiums paid by a policyholder are not deductible from taxable income, although premiums paid via an approved pension fund registered in terms of the Income Tax Act are permitted to be deducted from personal income tax (whether these premiums are nominally being paid by the employer or employee).

Premium payments made by the policy holders are liable to get tax exemption under section 80D of the Income Tax Act.

Besides, this affordable health care plan offers income tax benefits on premium payments Income Tax benefit under Section 80D of the Income Tax Act.

Under Section 80C of the Income Tax Act, individuals have been provided many tax reliefs such as tax free investments of up to Rs. 150,000.

Tax Benefits: The claims received and premiums paid are eligible for tax deductions Under Section 10 (10D) and 80C of Income Tax Act.

Income tax benefit on the premium paid as per Section 80C and on the claim received under Section 10 (10D) of the Income Tax Act.

The best monthly income plan is the one that allows the insured to make the maximum use of the provisions given under sections 80C and 10 (10D) of the Income Tax Act.

The plan also offers tax exemption on the premium paid and claim settlement under section 80C and 10 (10D) of Income Tax Act.

The premiums paid through cheque or online transfer modes are tax exempted under section 80D of the Income Tax Act.

If you need to furnish a report of audit specified under sections 10 (23C)- (IV), (v), (VI), (via), or 10A, 12A (1)(b), 44AB, 80IA, 80IB, 80IC, 80ID, 80JJAA, 80LA, 92E or 115JB of the Income Tax Act.

In addition to that, it offers tax - saving benefits under Section 80C of the Income Tax Act.

The policyholder can avail the tax benefit under Section 80D of Income Tax Act, 1961.

Under Section 80D of the Income Tax Act, one can avail deduction of up to Rs 15,000 for self, spouse and dependent children, while an additional Rs 20,000 is available for parents above the age of 60 (who fall in the senior citizens category) on premium paid for a health insurance plan.

The two sections of Income Tax Act of India, namely Section 80C and Section 10 (10D) allows the policyholder to enjoy Tax Benefits on the premiums paid and on the claims received, respectively.

For instance, if a single premium payment is opted for, then the insured will only receive a tax deduction up to the limits specified under section 80C of the Income Tax Act.

Tax Benefits: LIC Jevan Anand policy offers tax benefit to the insured on the premium paid and on the claims received, Under Section 80C and 10 (10D) of the Income Tax Act.

Investors can enjoy the tax deduction of up to Rs. 1 lakh yearly under section 80C of the Income Tax Act, 1961.

You can easily avail the benefit of tax savings under section 80 C of the Income Tax Act with this scheme.

Income Tax Benefit — Under sections 80C and 10 (10D) of the Income Tax Act, you are eligible to enjoy income tax benefits on the premiums you pay and the maturity proceeds respectively.

Income tax is exempted from the contribution to this account under Section 80 C of the Income Tax Act.

Under Section 80C of the Income Tax Act, 1961, the premiums paid towards your ULIP allow you deductions of up to Rs. 1, 50,000 against your taxable income.