6 Replies to “income is 6 lakhs how much can i take tax-exemption, i want to invest 3 lakhs in insurance, plz give informat”


  1. if u r the salary employees.
    under section 80c u can claim maximum deduction upto Rs. 100000/- u can also claim for deduction for expenses
    1) conveyance allowance of Rs.9600/-
    2) medicaim insurance of Rs.10000/-
    3) Education allowance maximum two child total Rs.2400/- anually.
    4)medical reimbursment to the extent Rs.15000/- or actual reimbursement which ever is less is exempted.
    5)u can also claim for house rent allowance


  2. Let me tell you one thng .Insurance is everything but investment. I am not sarcastic about it. Rather this is the hard truthe when you understand the underlying principles. Investing 3 lacs in insurance means you are ready to lock in your funds in a very low return yielding instrument for the purposes of TAX. Consider having 1 lac as insurance. Rs 50000 in Equity linked Savings schem of Mutual funds, Rs 1 lac in PF and Rs 50000 aas Fixed Deposits. This is the best return yielding and safest combination I can think of……


  3. Dear bachi,,
    A) You can avail tax exemption For GPF,FBF,SPF,GDFDA,PPF, life insurance contributions and principal amount paid for home loan, tution fees paid for 2 of your children,
    BUT THE AGGREGATE AMOUNT DEDUCTABLE IN THESE ARE up to 1 lakh only .
    b) The other deductions are
    Professional tax paid, paid for any relief fund, intrest paid for home loan, medclaim premium (upto 10 thousand)are also eligible for tax exemption.

    So 3 lakh investment in insurance is not fully exempted from tax.

    Less the total amount invested in para A from one lakh. Invest the balance in life insurance for this much only you get tax exemption.

    In life insurance ULIPS are the best choice to invest. But be aware most of the ULIPs have high allocation charges, between 20% to 50% of your investment. This high allocation charge will eaten up your hard earned money considerably. Allocation charge up to 5% is good choice. For detailed comparison between ulips regarding this can be had from
    [email protected]

    A mail can give you more detail for you to select a good policy with low charges and high returns


  4. Very Good For you are thinking about your future via Insurance.

    Here As per my knowledge you go throgh LIC of India or Bharti AXA both are excellent. Don’t go with any other Co.

    For LIC Contact : [email protected] ( For Higher Discount )


  5. Yeah..to the max you can invest Rs.1,10,000/- to save ur tax from income. Now that you want to invest, you need to look out for insurance cum investment plan. I made a similar investment 3 years ago..and made good money back. My advisor gave me a ULIP plan. If you need more inputs, I can send that guy to you to explain.

    Mail me at – [email protected]





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