Latest articles on Life Insurance, Non-life Insurance, Mutual Funds, Bonds, Small Saving Schemes and Personal Finance to help you make well-informed money decisions.
Life insurance provides a twin benefit to persons by providing financial security in case of contingency besides being a tax-saving instrument. The income-tax authorities also recognise the importance of taking a life insurance policy and have correspondingly provided income-tax benefits to an individual and Hindu undivided family (HUF) on the same under the Income-Tax Act, 1961 (the Act). Though the benefits of taking a life insurance policy are manifold, the tax benefits from the same can be broadly classified into two categories. |
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