You can claim tax deduction of up to Rs 1.5 lakh on the premium paid for the term life insurance cover under Section 80 C of the Income Tax Act
29-Oct-2015 •Research Desk
What is the tax exemption limit for pure term plan?
- Lalit
You can claim tax deduction of up to ₹1.5 lakh on the premium paid for the term life insurance cover under Section 80C of the Income Tax Act. Death benefit is also tax-free under Section 10 (10d) of the Act.
