Web22 Aug 2024 · Under Section 80 C of the Income-tax, deductions on the cost of the premium paid towards a LIC policy are one form of tax benefits. You can get them for the following … Web3 Nov 2024 · Under Section 80C, taxpayers can claim a maximum of ₹ 1,50,000 from their total income every year. ... Life Insurance Premiums. Annual premium paid for a life insurance policy in the name of you or your spouse and children is a good tax saving option. ... Parents can open an account in the name of a girl child upto the age of 10 years. The ...
Section 80C - Income Tax Deduction Under Section 80C - Tax2win
Web11 Apr 2024 · That's impossible! Anyways, let's kill two birds with one stone, i.e. save our taxes and get life insurance. You pay premiums for the life insurance policies for yourself, your other half or your children. Under Section 80C, these premiums can get you a tax deduction of ₹1.5 lakh maximum every financial year. Web11 Apr 2024 · Section 80D and 80C. Section 80D is sometimes confused with, Section 80C. Another differentiating point is that Section 80C includes investments made in a wide … marginalization in nigeran history
Income Tax Deductions Under 80C - Kotak Life
Web30 Oct 2024 · Moreover, under Section 80C and 10D of the Income Tax Act, there are income tax benefits on life insurance. Under section 80C, premiums that you pay towards a life … Web12 Feb 2024 · Under Section 80D, you can get deductions up to Rs 25,000 for parents under the age of 60, and Rs 50,000 if they are above 60. These limits are over and above the 80D … WebLife insurance premium paid for parents (father / mother / both) or in-laws is not eligible for deduction under section 80C. ... Section 80C - Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc. - Income-tax Act, 1961; marginalization in the workplace