A personal accident plan designed to endow the insurance need for
salaried individual against Accidental Death, Accidental Dismemberment, and Permanent Total Loss of Use.
As per the previous Budget 2017 - 18, the self - employed (
individual other than the
salaried class) can contribute up to 20 % of their gross income and the same can be deducted from the taxable income under Section 80CCD (1) of the Income Tax Act, 1961, as
against current 10 %.