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Key Features of Guaranteed Return Plans
You enjoy tax benefits under Section 80C on premiums paid, and the maturity amount may also qualify for tax exemption under Section 10(10D) , subject to prevailing tax laws.
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3. Most Tax-Efficient Way of Wealth Transfer
Investments into insurance policies are deductible under section 80C of the Indian Income Tax Act and the maturity amount is exempt from tax under section 10(10D) . If you invest Rs. 1 lakh each year for 10 years, you will save a neat Rs. 2 lakhs in taxes presuming you fall in the 20% slab.