What tax benefits are you eligible for if you make a lump sum injection / Top-Up?
What tax benefits are you eligible for if you make a lump sum injection / Top-Up?
The regular premium paid by the policyholder is eligible for tax deduction under Section 80C (subject to conditions specified) of the Income Tax Act, 1961. Also, benefits paid under the life insurance policy are exempt from tax under Section 10 (10) (D) of the Income Tax Act, 1961, subject to the conditions specified in section 10 (10) (D).
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