Tag Archives: premium

Tax implications of a LIC Policy

myITreturn

Life is important and life lost has a tremendous impact on your near and dear ones. The emotional scars are hard to cure but one may never want their family to go through financial crisis as well. With this view Insurance has been allowed as a major deduction by the… Read more »

Tax Saving Investment Options available under Income Tax

myITreturn

You can invest/contribute/deposit/pay in following to save your taxes :- a) Life Insurance policy taken on your life or on your family, premium paid during the financial year shall be deductible b) Contribution towards Public provident fund c) Subscription to National Savings Certificates (Accrued interest on NSC is also deductible… Read more »