Tax
HDFC Life provides the latest income tax rates in India for different age groups and tax benefits offered by various life insurance policies, for financial year 2013-14.
Proposed Tax Slab* for Financial Year 13-14 (Assessment Year 14-15)
| For Men below 60 years of age | For Senior Citizens (Age 60 years or more but less than 80 years) | For Senior Citizens (Age 80 years or more) | |||
|---|---|---|---|---|---|
| Income Level | Tax Rate | Income Level | Tax Rate | Income Level | Tax Rate |
| Rs. 2,00,000 | Nil | Upto Rs. 2,50,000 | Nil | Upto Rs. 5,00,000 | Nil |
| Rs. 2,00,001 - Rs. 500,000 | 10% | Rs. 2,50,001 - Rs. 500,000 | 10% | Rs. 5,00,001 - Rs. 10,00,000 | 20% |
| Rs. 500,001 - Rs. 10,00,000 | 20% | Rs. 500,001 - Rs. 10,00,000 | 20% | Above Rs. 10,00,000 | 30% |
| Above Rs. 10,00,000 | 30% | Above Rs. 10,00,000 | 30% | ||
Income Tax Deductions and Exemptions
| 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 Buy Life Insurance and Save Tax |
| Sec. 80CCC | Across all income slabs | Upto Rs. 30,900/-saved on Investment of Rs.1,00,000/- | All our Pension Plans Buy Pension Plans and Save Tax |
| Sec. 80 D* | Across all income slabs | 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/-
| ||
| Sec. 10 (10)D | Under Sec. 10(10D), the benefits received by you are completely tax-free, subject to conditions specified there in | ||
| |||
Save Income Tax with Insurance
Affordable Term Plan. Coverage upto 75yrs. Tax Benefits under Section 80C*.
Zero premium allocation charge, 8 fund options. Get Tax Benefits under Sec 80C*.
Avail Instant Critical Illness Health Policy with Tax Benefits under Sec 80D*.
Investment cum life insurance plan with guaranteed benefits to meet your long term financial goals.
* 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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To learn more about the income tax slabs AY 18-19, click here.
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Our vision is to provide innovative and customer-centric insurance plans that can help our customers secure their family's future as well as help them with other benefits such as tax savings. Keeping this in mind we offer a large range of life insurance plans such as term insurance plan, women's plan, health insurance plans, pension plans for retirement planning, child education plans, ULIPs, saving and investment plans. Most of these life insurance policies are available online, so buy one today and Sar Utha Ke Jiyo!.
As per regulatory changes, it is mandatory to submit PAN/Form 60 (if PAN is not available) for your policy with immediate effect. Please update via My Account/service@hdfclife.com/18602679999/HDFC Life branch. Ignore if already submitted.
HDFC Life Insurance Company Limited. CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.
Registered Office:
HDFC Life Insurance Company Limited,
Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011. Tel No: (022)67516666.
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For more details on risk factors, associated terms and conditions and exclusions, please read the sales brochure carefully before concluding a sale. ARN: EC/06/2017/9792