Chance of Insurance deduction and exemption reduced

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The tax benefits on life insurance polices , in form of exemption and insurance deduction u/s 80C -have been reduced considerably by the Finance Bill 2012-13 by proposing amendment in section 10(10D) and section 80C(3) of the Income Tax Act effective  from 01/04 /2012 . Readers must be aware that these two provisions  bring tax…

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About Prashant Thakur
The author has spent twenty years with Income Tax department and desire to service common citizen of India which include professionals like tax practioners ,CA,ICMA, CS and tax lawyers by advising them on the direct tax matters for a very affordable fee.

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