LIC Tax-saving is an important part of financial planning. An insightful tax savings planning strategy can serve the double target of helping people meet their money related objectives and save tax expense all the while.
- Premiums paid under all LIC Insurance Polices are eligible for Tax rebate.
- You can avail maximum Tax rebate upto Rs1,50,000 on the premiums paid under section 80c.
- Survival Benefit amount received under MONEY BACK Plans are Tax free under section 10(10d).
- Maturity amount received are Tax free under Section 10(10d).
- Death Claim amount received are Tax free under section 10(10d)