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45.4%First documentImpact of GST on Insurance Premiums in IndiaOpen original ↗
Second documentHow Do You Make the Most Tax Benefits by Investing in Insurance Products?Open original ↗
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Tax savings on GST paid for insurance
o Premiums paid for life insurance policies are eligible for deductions under Section 80C of the Income Tax Act, up to a limit of ₹1.5 lakh annually.
Insurance Premium Tax Exemption and Deductions
Premiums paid towards life insurance policies qualify for a tax deduction on insurance up to ₹1.5 lakh under Section 80C. This deduction applies to premiums paid for yourself, your spouse, and dependent children.