Page 10 - HDFC Bank | Take the cut out of your tax cut

Plan your tax and save money
Tax planning is essential, not only to minimize your tax liability, but also to save significantly in the amount you pay
in taxes.
Save taxes by investing in:

• MUTUAL FUND
• LIFE INSURANCE

• HEALTH INSURANCE

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 Rs. 46,800 saved on investment
80CCC and 80CCD(1) Linked Savings Scheme (ELSS), Unit of Rs.1,50,000.
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 Rs. 23,400 saved on
Citizen investment of Rs. 75,000**

Both Individual and Parents are Up to Rs 28,600 saved on
Senior Citizens investment of Rs. 1,00,000**

Total Savings Possible Rs. 70,200 (Rs. 46,800 under Section 80C, 80CCC and 80CCD(1) +
Rs. 23,400 under Section 80D).
Rs. 75,400 (Rs. 46,800/- under Section 80C, 80CCC and 80CCD(1) +
Rs. 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 Rs. 10,00,000 and less than or equal
to Rs. 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
**Under Section 80D –

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*Based on Retail Loan book size (excluding mortgages). Source: Annual Reports FY 20-21 and No.1 on market capitalisation based on BSE data as on 31st Dec, 2021