Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act.......
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people......
But be ready for lock-in till the age of 60.Sanjay Kumar Singh finds out more, Illustration: Uttam Ghosh/Rediff.com With interest income on provident fund contributions above Rs 2.5 lakh......