Every Article is A Tax Solution !
Any sum received from Life Insurance Policies -whether it was bonus or other wise was completely tax free under Income Tax Act. Only exception was that if the premium paid in year exceeded 20 % of the sum insured , in that case only exemption of the receipt was taken away.
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Deduction u/s 80D of the Income Tax Act provides relief to tax payer by allowing a deduction in their gross total income for buying health insurance or subscription of Central or State Health scheme or for health check ups. There are various amount of allowance. In general an individual tax payer can get a deduction of Rs 15,000...
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A video reports on tax planning by US based corporate to shift their office elsewhere in other countries for the benefit of taxation is the usual practice . A debt ridden USA economy is very alert on this aspect of tax evasion or you mayt say right of corporate to tax plan their profit ....
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