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What are the major tax concessions available for Life Insurance policies?

April 26, 2017concessions Life Insurance policies tax

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What are the major tax concessions available for Life Insurance policies?

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• Under Section 80C, the premium paid towards Life Insurance policies, approved annuity schemes and approved pension schemes are allowed to be deducted from annual income tax payable. • Under Section D, premium paid upto Rs.30000/- towards Health Insurance policies (of Non life) are allowed to be deducted from taxable income.