India Insured

Life Insurance premium paid on wife's Policy eligible for tax rebate? By Going through analysis of Incoming traffic to this site and online search given on our blog site I found that more of the visitors are looking for basic tax concepts so I have decided to give important and widely used section details on blog,though I know most of the email readers of BLOG are professional in accounts and tax and does not like concepts in feeds ,yet it is necessary to give detail of basic concepts also.Today I will discuss life Insurance premium.   Important Point in this regards are given below Deduction u/s 80c of income tax is available to Individual and Huf Assessee. Maximum total eligible amount under this head (LIFE insurance Premium) is Rs. 1,00,000 The limit of one lac as above is total limit u/s 80C for all type of savings ,plus section 80CCC(pension policy) plus u/s 80CCD(Contributory Pension Plan).Means the aggregate amount of deduction under above referred sections can...

Insurance Sector   Max New York to triple capital base by 2011 Chandigarh : Max New York Life Insurance will triple its capital base from present Rs 907 crore to Rs 2,600 crore in three years which will help funding its expansion programme. The company is, additionally, targeting new premium income of Rs 9,000 crore by 2011 compared with the current Rs 1,418 crore. The number of offices will be scaled up from 233 to 533 in 400 cities and insurance advisors will go up from 30,500 to 2 lakh by 2011. The company has also announced a foray into health insurance business.   Max NY Life sets 3 lakh health cover policies target   Mumbai: Max New York Life insurance has set a target of around 2.5-3 lakh health insurance policies sales by the end of the calendar year 2008. The company has rolld out a series of health insurance plans called 'Lifeline'. The plans offer insurance coverage for hospitalization, surgeries and critical illnesses. The 'Medicash'...