Home   >>    Insurance   >>    Life Insurance   >>     Overview

Life Insurance companies seeking extra tax benefit

Private life insurance companies are asking an additional tax exemption for long term insurance and pension schemes in the Union Buget 2008-09.

Apnainsurance.com Research Bureau

01 Sep 2008

Private life insurance companies are demanding a separate tax exemption of Rs. 1 lakh for long term investments in life insurance and pension schemes in the Union Budget of 2008-09. The Budget will be presented in the Parliament for 2008-09 on February 29, 2008.

Currently, both long and short-term investments are eligible for tax exemption under Section 80 C of the Income tax Act, the limit being Rs. 1 lakh.

The Life Insurance Council of India says that the provision of a separate tax exemption category will encourage of long-term investments which are suffering due to lack of "a proper definition".

Get Life Insurance Proposals
Upto 5 providers will offer you alternative proposals based on Feb 2019 premiums

Prefered Insurance Cos:
  •  Any 5
  •  AVIVA
  •  DLF


I authorize the website and its partner providers to call or SMS me in connection with my application & agree to the Privacy Policy and Terms of use