TAX: The month is definitely of 31 days, but 10 days are Saturday and Sunday, if you want to save tax then do this work immediately..

Insurance tax benefits: Insurance is not just an agreement written on paper, but a safety net for tough times. When a person buys life insurance, it ensures that if something happens to him, his family does not have to face any financial difficulties. On the other hand, health insurance protects savings by taking care of sudden medical expenses. In case of a serious illness or accident, people do not have to worry about money.

Now, look at it from another perspective. Instead of someone else, now look at it with you. When this protection also gives you the benefit of tax exemption under Sections 80C, 80D, and 10(10D) of the Income Tax Act, it becomes not just an expense but a wise investment. Insurance not only supports you in bad times but also strengthens your long-term investment planning. It helps you invest your money in the right direction, reduce your tax liability, and become financially independent in the future.

What does the month of March say? Listen carefully

The month of March has started. It reminds us that the financial year is about to end. In such a situation, two things are important to do. One is to plan for the new financial year and the other is to save as much tax as possible for the financial year that has passed. Everyone has a lot of time for the upcoming financial year, but only one month is left for the financial year that has passed. It can be said that only 20 days are left because most institutions are closed on Saturdays and Sundays.

In such a situation, we should prepare a solid investment and tax-saving plan. There are many tax saving options available under the old tax regime, which help in increasing your savings. Today we are talking only about the insurance sector, and how you can increase your savings by saving maximum tax by investing only in insurance products.

Life Insurance
Under Section 80C, policyholders can claim a deduction of up to Rs 1.5 lakh per year, depending on the policy's sum assured and the date of issue. “Additionally, Section 10(10D) ensures that maturity proceeds, death benefits, and bonuses remain tax-free – as long as premium limits are adhered to. However, for Unit Linked Insurance Plans (ULIPs), tax exemption is applicable only if the annual premium is less than Rs 2.5 lakh.”

Health Insurance
Taxpayers can claim a deduction under Section 80D – Rs 25,000 for premiums covering self, spouse and children, and up to Rs 1 lakh if ​​both the policyholder and their parents are senior citizens. Health checkups are also eligible for a deduction of Rs 5,000.

Pension plans
Section 80CCC allows deductions within the overall 80C limit, while employer contributions to pension plans (up to 14% of basic salary) are tax-free. While pension payments are taxable as income, symmetric pensions for NPS and superannuation funds offer partial tax relief. Death benefits and health insurance reimbursements from life insurance policies are completely tax-free, providing essential financial security for policyholders and their families.

Disclaimer: This content has been sourced and edited from News 18 hindi. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.