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Top Tax saving options: Should you invest in ELSS, PPF, NPS, insurance? Watch video

Top Tax saving options: Should you invest in ELSS, PPF, NPS, insurance? Watch video

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Tax saving tips 2023: With the start of the new financial year, it’s time for tax planning. This year onwards, the question of tax planning becomes even more important given the revised new income tax regime for FY 2023-24.
Announced in the Budget 2023 speech by Finance Minister Nirmala Sitharaman, the revised new income tax regime doesn’t allow for a majority of the tax deductions and exemptions that are available in the old tax regime.
So the first thing you need to do is to check which tax regime is better for you based on your salary level and need to claim tax exemptions and deductions. In case the old tax regime still works for you, then tax saving investments assume an important role.

Tax Saving Tips 2023: From PPF, ELSS to NPS & ULIPs – top tax saving investments

In this week’s episode of TOI Wallet Talks, Ektha Surana, Tax Expert at Clear (formerly ClearTax) summarises the taxation related changes in popular investment instruments in the last few years.
For example, effective April 2023, an individual will have to pay tax on the maturity amount of life insurance policies (other than ULIPs) in case the aggregate annual premium exceeds Rs 5 lakh.
Also, in case you are looking to invest in Equity Linked Savings Scheme (ELSS), then note that ELSS will have EEE tax status only if you opt for the growth option and ensure that capital gains do not exceed Rs 1 lakh while redeeming.
If the employer’s total contributions to EPF, NPS and the superannuation fund exceed Rs 7.5 lakh, the excess amount will be taxable in the hands of the individual concerned. The interest on excess contribution will also be taxable
Watch the video above to know more about popular tax saving investments and which ones should you opt for – Public Provident Fund (PPF), National Pension System (NPS), ELSS, insurance policies, Sukanya Samriddhi Scheme, Unit Linked Insurance Plans or others.
Also, watch the video to find out the thumb rules for tax-based investment planning to make an informed decision about your investment needs.



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Delhi News

Opted for new income tax regime vs old? Don’t miss PPF, insurance & MFs – watch video

Opted for new income tax regime vs old? Don’t miss PPF, insurance & MFs - watch video

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Old versus New Income Tax Regime: As you choose between the old and the revised new income tax regime for the financial year 2023-24, one thing to remember is that investments still continue to be important. Irrespective of whether you derive tax benefits from investments or not, they serve a crucial role in your financial planning.
Finance Minister Nirmala Sitharaman announced a revised new income tax regime effective April 1, 2023, which will also from now on be the default tax regime. The new income tax regime has new income tax slabs for 2023-24 which offer lower tax rates but with the caveat of not being able to avail many exemptions and deductions.
Common exemptions claimed by salaried and individual taxpayers in the old tax regime such as benefits under Section 80C, Section 80D, House Rent Allowance (HRA), Leave Travel Allowance (LTA), interest on housing loan, Section 80TTA etc. are not allowed under the new income tax regime. Only a standard deduction of Rs 50,000 has been included from this year.

Old vs new tax regime: Why PPF, insurance, ULIPs, ELSS still matter | Investment tips

Does that mean that popular tax saving instruments lose their sheen? No. In this week’s episode of TOI Wallet Talks, we discuss important investment avenues you should consider even if you opt for the new income tax regime.
Kuldip Kumar, Personal Tax Expert and Former National Leader – Global Mobility Practice at PwC India lists out investment options for salaried individuals irrespective of their tax regime. Kuldip makes an important point that if opting for the new income tax regime leaves more disposable income in your hands, then it is wise to set aside some amount for investments that will yield good returns.
Watch the video above to understand why putting your money in life insurance policies, Unit Linked Insurance Plans (ULIPs), Equity Linked Savings Scheme (ELSS), Public Provident Fund (PPF), National Savings Certificate (NSC) and medical insurance still makes sense.



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LIC Videos

Budget 2023 | किन बीमा पॉलिसी पर सरकार लगा रही है टैक्स? ।Quint Hindi

Budget 2023 | किन बीमा पॉलिसी पर सरकार लगा रही है टैक्स? ।Quint Hindi



बजट 2023 (Budget 2023) में सरकार ने घोषणा की है कि, जीवन बीमा पॉलिसी की मैच्युरिटी (Tax on Insurance) पर मिलने वाले पैसों पर टैक्स लगेगा, ऐसा पहली बार ही हो रहा है. कोई भी बीमा पॉलिसी खरीदने पर तो आप टैक्स देते ही हैं लेकिन उसकी मैच्युरिटी पर भी सरकार टैक्स वसूलना चाहती है. लेकिन सबको टैक्स नहीं देना होगा. जानिए पूरी डीटेल्स.
#budget2023 #budget #lifeinsurance

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LIC Videos

Availing Loan on Life Insurance | Hindi

Availing Loan on Life Insurance | Hindi



Availing loan on a life insurance policy is both convenient and beneficial. The loan can be availed upto the cash value of the policy. The policy is used as collateral. This loan can be used for any purpose right from a medical emergency to a vacation. It can be availed on permanent and whole life insurance. It is better to take a loan on insurance than a bank account.
The process of getting a loan from insurance is quick and easy. Unlike the time-consuming bank processes of approvals and credit checks. Loan on insurance offer flexible repayment terms and can be availed at a lower insurance rate. A loan on insurance also offers tax exemption.
It is beneficial to take loans on insurance. However, these loans have to be repaid in time. If the policyholder dies without repaying the loan, the pending loan amount is deducted from the benefit received by the nominee. Also, if the principal loan amount along with the interest on the loan crosses a certain limit, the policy gets lapsed.

अपने जीवन बीमाकर्ता से पॉलिसी के कॅश वैल्यू की राशि तक ऋण पा सकते हैं। क्या लोन के लिए आपकी पॉलिसी कोलैटरल के रूप में इस्तमाल की जाति है। आप ये लोन किसी भी उद्देश्य के लिए इस्तमाल कर सकते हैं फिर चाहे एपी यूज इमरजेंसी के लिए करे या किसी वेकेशन के लिए। ये लोन आदर्श रूप से स्थायी और संपूर्ण जीवन बीमा पॉलिसियों पर पाया जा सकता है।

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LIC Videos

[HINDI] Our Range Of Life Insurance Plans For All – Protection, Savings, & More | Max Life Insurance

[HINDI] Our Range Of Life Insurance Plans For All - Protection, Savings, & More | Max Life Insurance



Life is a roller-coaster ride, with its fair share of highs and lows. And we have you covered for each and every stage of this ride.

Our range of Life Insurance products offer complete financial protection at every step of your life — from protection against unforeseen events (like death, disability or critical illnesses), to children’s education, retirement planning, savings and investments.

Reach out to any of our Agent Advisors!
Or explore our entire gamut of online offerings here:

#YouAreTheDifference

ARN: 080221/YT/Products

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LIC Videos

LIC's ULIPs customer education video Hindi

LIC's ULIPs customer education video Hindi



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