• SENSEX
    NIFTY 50
Personal Finance

Common misconceptions about life insurance tax benefits

Updated : July 12, 2019 11:32 AM IST

The tax benefit is capped at Rs 1.5 lakh under Section 80C. So, even if you pay Rs 4 lakh annually, the tax benefit is capped at Rs 1.5 lakh per annum.
And that’s for the entire Section 80C basket. Additionally, the entire life insurance premium paid may not be eligible for tax deduction.
The quantum of insurance premium eligible for tax deduction is restricted in relation to the Sum Assured (Minimum Death Benefit).
Common misconceptions about life insurance tax benefits
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

Live TV