What are the tax benefits on insurance?
Apart from the safety and security benefits of buying insurance, there are also the income tax benefits that you can avail.
- The life insurance premium of up to described amount can be claimed as a tax-saving deduction under Section of Tax System
- The medical insurance premium of up to the described amount for yourself and your family and some amount for your parents can be claimed as a tax-saving deduction under Section of Tax System
These claims have to be made at the time of e-filing income tax returns.
No comments:
Post a Comment