• Kashif Shaikh

Benefit of deduction of section 80c & 10(10d)

Updated: May 23, 2020

In India, many people are unaware of the benefit of section 80C & section 10(10d).

It is necessary to know what benefit they provide before purchasing the policy.

section 80c & section 10(10d) both are different sections of Tax, which provide different Tax benefits.

1. Section 80C

Under section 80c you can claim deduction up to 1.5 lakh of your total income. Section 80C applies to individual and HUF in India.

Investments in life insurance policies, PPF, ELSS, etc comes under section 80C. To avail, this benefit individual has to first invest in the financial year by taking section 80C policies or plans.

2. Section 10(10D)

According to Section 10(10d) of income which is generated from life insurance polices are tax free. But this benefit is pass on to family member after death of insurer.

#Insurance #80c #1010d #LifeInsurance #Section

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