Page 11 - HDFC Bank TPP Flipbook

Tax Savings through Mutual Funds and Insurance

Income Tax Section Tax Saving Options How Much Tax Can You Save?
80C^, Life Insurance Premiums, Equity Up to r 46,800 saved on investment
Linked Savings Scheme (ELSS), of r 1,50,000
80CCC and 80CCD(1)
Unit Linked Insurance Plans
(ULIPS), Contribution to Pension
Funds, Subscription towards
notified units of Mutual Funds or
UTI, etc.
80D** Health Insurance & Critical Illness
Premium
Individual and Parents as Senior Up to r 23,400 saved on investment
Citizen of r 75,000**
Both Individual and Parents are Up to r 28,600 saved on investment
Senior Citizens of r 1,00,000**
Total Savings Possible r 70,200 (r 46,800 under Section 80C, 80CCC and 80CCD(1) + r 23,400
under Section 80D)
r 75,400 (r 46,800/- under Section 80C, 80CCC and 80CCD(1) + r 28,600
under Section 80D)
10 (10D) Under Section 10(10D), the benefits received by you from Life Insurance
Policy are completely tax free subject to conditions specified therein.
Above figures calculated for an individual with gross annual income exceeding r 10,00,000 and less than
or equal to r 50 Lakhs. These calculations are illustrative and based on our understanding of current tax
legislations and availability of these offerings. The abovementioned tax benefits are subject to changes in tax
laws. Please contact your tax consultant for an exact calculation of your tax benefits/liabilities.
^For complete text of eligible investment kindly refer Section 80C

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