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Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance.
Income taxpayers have a huge list of expectations from the Union Budget 2022-23 as no relief was announced for taxpayers in the last year’s Budget.
Many investment avenues offer better returns than life insurance at a lower cost under Section 80C
Budget 2022 to bring good news for salaried professionals - THESE 3 benefits on the cards - The is hope that the tax exemption limit for salaried professionals might be increased in the upcoming budget after staying same for the last 8 years
Insurance policy tax: Tax exemption of Rs 1.5 lakh on this special policy – Know details - To claim this benefit, you do not need to purchase an insurance plan from an Indian insurance firm.