save tax with LIC

Tax saving with LIC

All premiums paid are exempted from income tax under sector 80 c and all claims, maturity etc are exempted under 10 10 d. LIC plans have been the preferred method of saving tax with all age groups. In fact people with their first salary start savings with lic. Lic plans offer triple benefits of life cover, best returns and tax saving.

How much tax do I pay on LIC premium?

All premium payment are exempted from income tax under section 80C.

Is LIC survival benefit taxable?

Yes, the survival benefit, claims are all exempted from tax under 10 (10) (D) section of income tax act.

Does LIC come under 80c?

Yes

Vikas is the founder of InsuringGurgaon.com - an LIC life insurance agency based in Gurgaon. He has a experience of 16 years and is working with professionals, corporate and HNIs for their LIC services needs. Vikas is a MBA in marketing from Symbiosis, Pune and has a experience of 15 years working with companies at various levels. Vikas can be reached at 9891420503 and [email protected]

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