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Proposed Slab* for FY 2011-12 (Assessment Year 2012-13) For Men below 65 years of age For Women below 60 years of age For Senior Citizens Income Level Tax Rate Income Level Tax Rate Income Level Tax Rate Upto Rs. 180,000 Nil Upto Rs. 190,000 Nil Upto Rs. 250,000 Nil Rs. 180,001 - Rs. 500,000 10% Rs. 190,001 - Rs. 500,000 10% Rs. 250,001 - Rs. 500,000 10% Rs. 500,001 - Rs. 800,000 20% Rs. 500,001 - Rs. 800,000 20% Rs. 500,001 - Rs. 800,000 20% Above Rs. 800,000 30% Above Rs. 800,000 30% Above Rs. 800,000 30% *Note:
An education cess of 2 per cent and a Higher education cess of 1 per cent is charged on the tax levied as above
- Deductions and Exemptions
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Income Tax Section Gross Annual Salary How Much Tax Can You Save? HDFC Standard Life Plans Sec. 80C Across all income slabs Upto Rs. 30,900/- saved on investment of Rs. 1,00,000/- All our Life Insurance Plans Sec. 80CCC Across all income slabs Upto Rs. 30,900/- saved on Investment of Rs.1,00,000/- All our Pension Plans Sec. 80 D* Across all income slabs Upto Rs. 9,270/- saved on investment of Rs. 30,000/- (Inclusive of Rs.15,000/- towards health insurance of parents)- All our Health Insurance Plans
- All the health insurance riders available with our Conventional Plans
Upto Rs. 10,815/- saved on investment of Rs.35,000/- (Inclusive of Rs. 20,000/- towards health insurance of parents who are senior citizens)Total Savings
Possible **Rs. 41,715/-- Rs. 30,900/- under Sec. 80C and Sec. 80CCC
- Rs. 9,270/- or Rs. 10,815/- under Sec. 80D
- Above figures calculated for a male with gross annual income exceeding Rs. 8,00,000/-
Sec. 10 (10)D Under Sec. 10(10D), the benefits received by you are completely tax-free, subject to conditions specified there in - Applicable to premiums paid for all Health Insurance Plans, Critical Illness Benefit, Accelerated Sum Assured and Waiver of Premium Benefit.
** These calculations are illustrative and based on our understanding of current tax legislations. - The above-mentioned tax benefits are subject to changes in the tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities.
* Calculations are based on highest tax benefits.
Note: These tax calculations are based on present tax legislations, which are
subject to change The aggregate deductions from income under Sections 80C, 80CCC and 80CCD (applicable in case of central government employees only) should not exceed Rs 1 lakh
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HDFC Life Insurance is a leading player amongst the private life insurance policy providers in India. We offer all types of life insurance plans such as term insurance plan, health plans, pension plans for retirement planning, child insurance plan/policy, child education plans, ULIPs, saving and investment planning plans. These policies also help in tax planning. Most of these HDFC Life insurance policies are available online and users can buy online HDFC Life Insurance Plans.
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Insurance is the subject matter of the solicitation. HDFC Standard Life Insurance Company Limited. Registration No 101, granted on 23rd October, 2000 by IRDA.
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ARN: MC/04/2009/700