No relevant search results found.
Language
Thank you for sharing your details. To receive a call from Tata AIA Financial Advisor.
reCAPTCHA is not working.
Call us
FOR EXISTING POLICY
FOR NEW POLICY
Tata AIA
Income Tax Calculator
For taxpayers in India, income tax calculation* and the process of filing taxes forms an important part of financial planning. With different tax deductions and exemptions provisions available under different sections of the Income Tax Act, you can benefit from tax savings each financial year.
An income tax calculator available online makes it easier for you to plan your finances and taxes as you can compute how much tax you will have to pay as per your taxpayer category under the income tax slab rates.
Use our income tax calculator to check your tax liability for financial year (FY) 2023-24.
Results
Total Tax to be paid
Income Tax
Cess @4%
We hope you have all investments in place to secure you and your family's future.
Want some help?
Results
Total Tax to be paid
Income Tax
Cess @4%
Well done, your investments have met the total tax saving limit under 80C.
But there is no limit to securing more for your future!
Results
Total Tax to be paid
Income Tax
Cess @4%
Hey, we see that you can save some more tax.
Let us help you.
The income tax calculator is a quick and easy-to-use online tool that can be found on the official website of the Income Tax Department as well as on other third-party websites.
The tax calculator can be used to get an estimate of the taxes you pay based on your taxable income and your deductible investment and expenses. However, your taxable income determination will also be subject to new changes that may be presented in the Union Budget in India each year. Therefore, while using the tax calculator, it is important to choose the correct financial year for which you want to file your taxes.
An important feature of the income tax calculator is that the tool will consider your age, income, expenses, investments, the interest paid on your home loans, and various other details to give you the results. Moreover, it also generates the estimate of the income tax payable based on the tax regime (old or new) as well as the tax slab of the taxpayer.
Using the income tax calculator is simple, and you can get an estimate of your taxable income in a matter of minutes after filling in the right details. Here is how you can use the online income tax calculator:
- Visit the Tata AIA Life Insurance official website and go to the Income Tax Calculator page.
- Select your age bracket so that the correct tax slab rates can be applied.
- Mention your annual salary – this should include all your bonuses and variables.
- Next, fill in the other fields with your investment details and mention the amount under Section 80C and 80CCD(1B)
- If you have a health insurance policy or health riders@ with your life insurance plans, mention the same under Section 80D.
- If you are living in a rented home, mention the rent amount and the HRA received.
- In case of a home loan that is being repaid, mention the interest paid so that it can be considered a deduction from your taxable income.
- In case of an educational loan that is being repaid, mention the interest paid to have it counted as a deduction from your taxable income.
- After submitting all these details correctly, you will be able to view an estimation of your taxable income and the income tax payable.
Using an online income tax calculator is not only simple but offers multiple benefits. For one, computing your taxable income manually can be a long-drawn process riddled with hassles. The scope of human error can also be high when you calculate your taxes, investments, and other components together. To ensure that you can easily compute your taxable income, these are some of the benefits of using an online income tax calculator:
-
![]()
Ease of Access and Usage
The online tax calculator can be easily accessed on our official website or the official website of the Income Tax Department. This means you can calculate your taxes at your convenience, from anywhere.
-
![]()
Convenient Tax Calculation
With a user-friendly online tool, tax calculation need not take hours. Provided you fill in the right details, it takes less than a few minutes to know how much of your income will be taxable and the estimate amount of tax payable.
-
![]()
Identify the Deductions
When the online calculator asks you for your investments, it helps you understand the various sections of the Income Tax Act under which you can claim tax deductions to bring down your taxable income.
-
![]()
Advance Calculation of Taxes
Since the online calculator is always available online, you can start preparing for income tax payments and for filing tax returns well in time so that you do not miss the tax payment due dates or end up paying the penalty.
The income earned from your salary is the sum of the basic salary, the HRA (House Rent Allowance), special allowance, transport allowance, and any other type of allowance. Some of these allowances and components are exempt from taxes. If you are living on rent and receiving an HRA, you can claim an exemption on the HRA.
Apart from these exemptions, a standard deduction of ₹40,000 has been applicable since its introduction during Budget 2018. Since 2019, the standard deduction has been increased to ₹50,000. Under the old tax regime, there are several tax saving investments which enable you to avail of tax deductions under Section 80C of the Income Tax Act. Moreover, Section 24B of the Income Tax Act enables you to claim deduction of up to ₹2,00,000 on the interest for a loan taken to purchase, renovate or construct a new home.
If a taxpayer opts for the new tax regime, they cannot avail of these exemptions and deductions.
For instance, Ruhi has a basic salary of ₹1,00,000 per month and an HRA of ₹50,000, a Special Allowance of ₹21,000 per month, and an LTA of ₹20,000 annually. Let’s assume that she pays a rent of ₹40,000 and lives in Mumbai. This is what her taxable income looks like as per the old and new tax regime:
| Nature | Amount | Exemption/Deduction | Taxable (Old) | Taxable (New) |
| Basic Salary | ₹12,00,000 | - | ₹12,00,000 | ₹12,00,000 |
| HRA | ₹6,00,000 | ₹3,60,000 | ₹2,40,000 | ₹6,00,000 |
| Special Allowance | ₹2,52,000 | - | ₹2,52,000 | ₹2,52,000 |
| LTA | ₹20,000 | ₹12,000 (after submitting bills) | ₹8000 | ₹20,000 |
| Standard Deduction | - | ₹50,000 | ₹50,000 | - |
| Gross Total Income from Salary | - | - | ₹16,50,000 | ₹20,72,000 |
To be able to calculate her income tax, she needs to include her income from all the sources:
- Income from Salary
- Income from house property
- Income from capital gains
- Income from business/profession
- Income from other sources (interest from saving account interest income, etc.)
Let’s say Ruhi is earning an income of ₹8,000 from the interest on her savings account as well as an income of ₹12,000 from her fixed deposit during the financial year. She has also invested in a PPF with ₹50,000, an ELSS of ₹20,000, a life insurance premium of ₹8,000, and a medical insurance premium of ₹12,000 for the year. Therefore, under the old tax regime, she can claim deductions on these investments.
| Nature | Maximum Deduction |
Investments/Expenses | Amount Claimed |
| Section 80C | ₹1,50,000 | PPF - ₹50,000, ELSS - ₹20,000, life insurance premiums - ₹8,000, Ruhi’s EPF contribution = ₹1,00,000 x 12% x 12 = ₹1,44,000 | ₹1,50,000 |
| Section 80 CCD(1B) | ₹50,000 | National Pension Scheme | NA |
| Section 80D | ₹25,000 for Ruhi and ₹50,000 for her parents | Medical insurance premium ₹12,000 | ₹12,000 |
| Section 80TTA | ₹10,000 | Interest on savings account of ₹8,000 | ₹8,000 |
How to Calculate Gross Taxable Income in India?
| Income Tax Slab | Old Tax Regime | New Tax Regime | ||
| Age | Less than 60 years | 60 years and above and less than 80 years | 80 years and above | Across Age Groups |
| ₹0.0 – ₹2.5 Lakh | - | - | - | - |
| ₹2.5 – ₹3.0 Lakh | 5% | - | - | - |
| ₹3.0 – ₹5.0 Lakh | 5% | 5% | - | 5% |
| ₹5.0 – ₹6.0 Lakh | 20% | 20% | 20% | 5% |
| ₹6.0 – ₹7.5 Lakh | 20% | 20% | 20% | 10% |
| ₹7.5 – ₹9.0 Lakh | 20% | 20% | 20% | 10% |
| ₹9.0 – ₹10.0 Lakh | 20% | 20% | 20% | 15% |
| ₹10.0 – ₹12.0 Lakh | 30% | 30% | 30% | 15% |
| ₹12.0 – ₹12.5 Lakh | 30% | 30% | 30% | 20% |
| ₹12.5 – ₹15.0 Lakh | 30% | 30% | 30% | 20% |
| > ₹15 Lakh | 30% | 30% | 30% | 30% |
Sample Illustration of the Income Tax Slab for an Individual below 60 Years of Age with Gross Annual Income of ₹10 Lakh
| Particulars | Tax slab | Old Tax Regime (₹) | New Tax Regime (₹) |
| Gross Income | 10,00,000 | 10,00,000 | |
| Deductions: | |||
| u/Sec: 80C | 1,50,000 | ||
| u/Sec: 80CCD(1B) | 50,000 | ||
| u/Sec: 80D | 25,000 | ||
| u/Sec: 24(b) | 2,00,000 | ||
| Taxable Income | 5,75,000 | 10,00,000 | |
| Tax Slab (OLD) | |||
| ₹0.0 – ₹2.5 Lakh | 0% | - | |
| ₹2.5 – ₹3.0 Lakh | 5% | 2,500 | |
| ₹3.0 – ₹5.0 Lakh | 5% | 10,000 | |
| ₹5.0 – ₹6.0 Lakh | 20% | 15,000 | |
| ₹6.0 – ₹7.5 Lakh | 20% | ||
| ₹7.5 – ₹9.0 Lakh | 20% | ||
| ₹9.0 – ₹10.0 Lakh | 20% | ||
| ₹10.0 – ₹12.0 Lakh | 30% | ||
| ₹12.0 – ₹12.5 Lakh | 30% | ||
| ₹12.5 – ₹15.0 Lakh | 30% | ||
| > ₹15 Lakh | 30% | ||
| Tax Slab (NEW) | |||
| ₹0.0 – ₹2.5 Lakh | 0% | - | |
| ₹2.5 – ₹3.0 Lakh | 0% | - | |
| ₹3.0 – ₹5.0 Lakh | 5% | 10,000 | |
| ₹5.0 – ₹6.0 Lakh | 5% | 5,000 | |
| ₹6.0 – ₹7.5 Lakh | 10% | 15,000 | |
| ₹7.5 – ₹9.0 Lakh | 10% | 15,000 | |
| ₹9.0 – ₹10.0 Lakh | 15% | 15,000 | |
| ₹10.0 – ₹12.0 Lakh | 15% | ||
| ₹12.0 – ₹12.5 Lakh | 20% | ||
| ₹12.5 – ₹15.0 Lakh | 20% | ||
| > ₹15 Lakh | 30% | ||
| Income Tax | 27,500 | 60,000 | |
| Cess @ 4% | 1,100 | 2,400 | |
| Total Tax to be paid | 28,600 | 62,400 |
Sample Illustration of the Income Tax Slab for an Individual below 60 Years of Age with Gross Annual Income of ₹20 Lakh
| Particulars | Tax slab | Old Tax Regime (₹) | New Tax Regime (₹) |
| Gross Income | 20,00,000 | 20,00,000 | |
| Deductions: | |||
| u/Sec: 80C | 1,50,000 | ||
| u/Sec: 80CCD(1B) | 50,000 | ||
| u/Sec: 80D | 25,000 | ||
| u/Sec: 24(b) | 1,00,000 | ||
| Taxable Income | 16,75,000 | 20,00,000 | |
| Tax Slab (OLD) | |||
| ₹0.0 – ₹2.5 Lakh | 0% | - | |
| ₹2.5 – ₹3.0 Lakh | 5% | 2,500 | |
| ₹3.0 – ₹5.0 Lakh | 5% | 10,000 | |
| ₹5.0 – ₹6.0 Lakh | 20% | 20,000 | |
| ₹6.0 – ₹7.5 Lakh | 20% | 30,000 | |
| ₹7.5 – ₹9.0 Lakh | 20% | 30,000 | |
| ₹9.0 – ₹10.0 Lakh | 20% | 20,000 | |
| ₹10.0 – ₹12.0 Lakh | 30% | 60,000 | |
| ₹12.0 – ₹12.5 Lakh | 30% | 15,000 | |
| ₹12.5 – ₹15.0 Lakh | 30% | 75,000 | |
| > ₹15 Lakh | 30% | 52,500 | |
| Tax Slab (NEW) | |||
| ₹0.0 – ₹2.5 Lakh | 0% | - | |
| ₹2.5 – ₹3.0 Lakh | 0% | - | |
| ₹3.0 – ₹5.0 Lakh | 5% | 10,000 | |
| ₹5.0 – ₹6.0 Lakh | 5% | 5,000 | |
| ₹6.0 – ₹7.5 Lakh | 10% | 15,000 | |
| ₹7.5 – ₹9.0 Lakh | 10% | 15,000 | |
| ₹9.0 – ₹10.0 Lakh | 15% | 15,000 | |
| ₹10.0 – ₹12.0 Lakh | 15% | 30,000 | |
| ₹12.0 – ₹12.5 Lakh | 20% | 10,000 | |
| ₹12.5 – ₹15.0 Lakh | 20% | 50,000 | |
| > ₹15 Lakh | 30% | 1,50,000 | |
| Income Tax | 3,15,000 | 3,00,000 | |
| Cess @ 4% | 12,600 | 12,000 | |
| Total Tax to be paid | 3,27,600 | 3,12,000 |
Save tax with our insurance solutions
A Non-Linked Non-Participating Individual Life Insurance Plan (UIN: 110N160V03)
Non-Linked, Non-Participating, Individual Life Insurance Savings Plan (UIN: 110N158V09)
Income Tax Deductions and Exemptions for Salaried Individuals
Since there are various components in your salary which are taken into consideration while calculating your income tax and some of these are exempt from tax, you should use an online income tax calculator to know your gross taxable income. These are the following steps to help you know your tax liability:
Calculate Gross Income
Make a note of your total income, which should include all your allowances. Some of these main exemptions on your salary may include HRA, Leave Travel Allowance (LTA), and so on. These should be removed from your gross annual salary.
The House Rent Allowance can be as given below:- House rent allowance received from the employer
- Actual rent paid excluding 10% of basic + DA monthly salary
- For metro cities – 50% of basic salary
- For non-metro cities – 40% of basic salary
Select the one that is the least, and mention that in the income tax calculator online. It is also possible to claim a standard deduction of ₹50,000 from your annual income for FY 2021-22 and FY2022-23. You can deduct the HRA and the standard deduction with the help of the income tax calculator.
After this, declare income from other sources such as interest earned on deposits, capital gains, and so on. This will give you your total gross income.
Calculate Net Taxable Income
At this step, compile and calculate your different tax-saving investment options. Under Section 80C of the Income Tax Act, 1961, you can lower your taxable income by investing in some tax-saving investments. The standard tax-saving options are:
- Life insurance Plans
- Unit Linked Insurance Plans
- National Pension System (NPS)
- Equity Linked Savings Scheme (ELSS)
- Mutual Funds
- Public Provident Fund (PPF)
These are the various tax-saving sections on your online income tax calculator:
- Section 80C
Under this section, individuals, as well as members of Hindu Undivided Family (HUF), can claim tax deductions up to ₹1.5 Lakh on various investments such as life insurance policies, Employee Provident Fund (EPF), Public Provident Fund (PPF), and more.
- Section 80CCD (1)
If you invest in the National Pension System (NPS), you can avail of a tax deduction under Section 80CCD (1). If you are a salaried employee, you can claim a deduction of up to ₹1.5 Lakh on 10% of your gross salary under section 80 CCE.
- Section 80CCD (1B)
As a salaried or self-employed individual, you can avail of yet another tax deduction of ₹50,000 under Section 80CCD (1B), apart from the deductions under Section 80C. Hence, collectively, you can save up to ₹2 Lakh under Section 80C and Section 80CCD (1B).
- Section 80D
If you are paying premiums for health insurance premiums or life insurance premiums for health riders attached to your life insurance plans, you can avail of tax deductions under Section 80D, as an individual or as a HUF. In the case of a health insurance policy, the maximum deduction that can be claimed is calculated so:
- A deduction of ₹25,000 on a medical insurance plan for self (below 60 years of age), spouse, and your children.
- Additional deduction of ₹25,000 on a medical insurance policy for your parents less than 60 years of age.
- Additional deduction of ₹50,000 if you and your parents are both above 60 years of age.
- By declaring the total amount of health insurance premium paid in a year, you can calculate the tax payable on the income tax calculator.
- Section 80DD
Under this section, an individual or HUF can claim deductions for medical expenses paid towards a dependent specially-abled family member. Depending on the nature and the extent of the disability, the deduction available can go up to ₹1.25 Lakh.
- Section 80E
As an individual, you can enjoy a deduction for 8 years on the interest paid towards an education loan under Section 80E of the Income Tax Act.
Tax Slab Based on Net Taxable Income
After the new tax regime was added in the Union Budget FY2021-2022, the old tax regime, as well as the new one, is still applicable after the Union Budget 2022-2023. The new tax regime has made the calculation of income tax liability simpler; you can also use an online IT calculator to know your tax liability.
After subtracting all the applicable deductions from your annual income with the income tax rate calculator, you get your net taxable income. According to the existing tax slab rates, the taxes should be paid as per the taxpayer category you fall under. When consolidating the net tax payable after the deductions (through tax-saving investments), check if you are eligible for a rebate under Section 87A.
Rebate under Section 87A
Tax rebate benefit offered to taxpayers by the Indian Government if one’s net taxable income is below ₹5 Lakh. So, if your total taxable income does not exceed ₹5 Lakh, an additional rebate of up to ₹12,500 can be claimed on the total tax payable, which does not include the health and education cess of 4%. But if the net taxable income is more than ₹5 Lakh, you cannot benefit from a tax rebate under this section.
Benefits of Filing Income Tax Online
If you earn more than the basic exemption limit, you will have to file your income tax returns. And an online IT calculator can help you understand how much income tax you should pay. Also, those who have a taxable income of less than the exemption limit can file a nil return. These are the benefits of filing your income tax returns online:
- The entire e-filing process is quick and can be carried out at your convenience.
- The transfer of refunds online takes place faster during e-filing.
- The confirmation of and the updates on your ITR status are prompt.
- The online tax returns filing process is secure since none of your private or financial details will be stored.
- The ITR statement can be presented as proof of income and proof of address when applying for a visa, loan, or life insurance plan.
- Since e-filing your returns is quick and easy, you can carry out the process yourself and avoid late fees and penalties.
Any individual whose income is above the maximum exemption limit or whose income can be taxed as per the income tax slabs should file income tax returns. For FY 2022-2023, individuals below 60 years of age have an exemption limit of ₹2.5 Lakh for a financial year. For senior citizens (between 60-80 years of age), the exemption limit is ₹3 Lakh. And for super senior citizens (above 80 years of age), the exemption limit is ₹5 Lakh.
The tax laws pertaining to payment of taxes and filing of income tax returns also apply to Hindu Undivided Families (HUFs), Association of Persons (AOPs), Body of Individuals (BOI), Artificial Judicial Persons, local authorities, companies, and firms.
Looking to buy a new insurance plan?
Our experts are happy to help you!
Success
Blogs
Tax saving
10 mins read
Term Plan
Tax Savings
Term Plan
Frequently Asked Questions
When should I file ITR?
You should file your income tax returns by July 31, at the end of the financial year. In case your business or your earnings are subject to a tax audit, then the due date for filing ITR will be October 31. And where transfer pricing is applicable, the due date will be November 30 after the financial year.
What is the maximum non-taxable limit on income?
As per the prevailing income tax laws, it is necessary to file income tax returns if you are an individual whose total income in a given financial year is more than the exemption limit above the gross total income of ₹2,50,000.
What is the difference between the assessment year and the financial year?
The financial year for a taxpayer will be the year during which one earns or receives income, makes investments, and incurs various expenses. The assessment year comes after the financial year, and it is during the assessment year when the previous year’s income will be assessed and taxed. This is also the year when the income tax returns will need to be filed.
Does everyone need to file the ITR?
If your gross annual income is above ₹2,50,000 under the new tax regime in a financial year, it is mandatory to file tax returns under the prevailing tax laws. The gross annual income is made of the incomes from different sources, which includes salaries, income from real estate, earnings from capital gains, etc.
What is professional tax?
Professional tax is an indirect tax that is deducted from the gross salary of an employee by the employer. This tax is levied by the government and is based on the income tax slab of the employee. The tax will vary from state to state, and the maximum amount that can be levied is ₹2500.
What tax amount will be deducted from my salary?
If your salary comes under the taxable bracket after all the deductions and exemptions have been computed, you will have to pay your income tax as per the income tax rates for the respective taxpayer’s category. You can check the old and new income tax slabs as given above.
Which income in India is not taxable?
A number of incomes in India do not qualify for taxation. Some of them are:
- Awards and Scholarships
- Income from Transfer of Agricultural Land
- Amount from a Government-backed Provident Fund
- Leave Salary
- Agricultural Incomes
- Receipts from Hindu Undivided Family
How do you differentiate between a tax deduction and an exemption?
A tax deduction is an amount that is excluded from your total income to reduce your taxable income, whereas a tax exemption means that a certain portion of your income does not qualify for tax or does not contribute to your income.
How much tax should I pay for 10 Lakh?
You can know how much tax you should pay for an income of ₹10 Lakh by checking the tax slab given above.
How much tax should I pay on my salary?
You can use an online IT calculator on the official Tata AIA Life Insurance website or the official Income Tax Department portal to check how much income tax you will be paying on your salary.
Is it mandatory to file the ITR?
Yes, you must file your income tax returns if your income is taxable. Even if your income is not taxable, you will need to file a nil income tax return.
How to lower my taxable income?
You can lower your income by investing in life insurance plans or other investment options under the various tax-saving provisions of the Income Tax Act. You can claim a maximum tax deduction of ₹1.5 to 2 Lakh for a financial year to lower your taxable income.
What is the tax deduction limit under Section 80C?
The tax deduction limit under Section 80C of the Income Tax Act is ₹1.5 Lakh per financial year.
How to calculate income tax online?
To calculate income tax online, you can simply visit the official Income Tax Department website and use their online income tax calculator. Alternatively, you can also use the Tata AIA Life Insurance Income Tax calculator to get an estimate of your taxable income.
What are the recent changes in the income tax rules?
Since April 2022, these are some of the major changes in the income tax rules:
- Taxability of cryptocurrency (Virtual digital assets)
- Deduction under National Pension System for State government employees
- Taxability of provident fund interest
- Filing updated IT returns for revisions
- Surcharge on long-term capital gains of all assets
- Removal of deduction under 80EEA
- Tax benefits on life insurance plans for persons with disabilities
- Tax relief on the compensated amount under COVID-19-related expenses
What is Section 87A?
As per Section 87A, any individual who is a resident Indian with a total income below ₹5,00,000 can claim a rebate under this section. This rebate functions as a deduction that lowers the tax liability and will be either 100% of the tax liability or ₹12,500, whichever is lower.
Hence, if the tax liability is more than ₹12,500, the rebate will be available only up to ₹12,500. There will be no rebate if the total taxable income is greater than ₹5,00,000.
Can I use the income tax calculator available on the Income Tax Department portal?
Yes, you can use the income tax calculator for FY 2023-24 on the Income Tax Department portal.
What are the tax benefits of availing a home loan?
If you take a home loan, you can claim a deduction of up to ₹2 Lakh under Section 24(b) on the home loan interest and a tax deduction on the principal repayment up to ₹1.5 Lakh under Section 80C of the Income Tax Act. If the home loan is taken on a joint basis, each of the borrowers can claim the deductions and the tax benefits as applicable.
What is tax deduction under Section 24?
Under Section 24 of the Income Tax Act, a homeowner can claim a deduction of up to ₹2 Lakh on their home loan interest if they or their family have occupied the property. A deduction of up to ₹1,50,000 can be claimed if they file returns for the previous financial year. If the house is rented out, the whole interest will be waived off as a deduction.
What is the Income Tax Certificate, and why is it important?
This document certifies that the individual leaving India has cleared all their tax dues in India and has made the necessary arrangements in order to discharge any future tax liabilities that may arise. The Income Tax Clearance Certificate gives clearance by the tax department relating to any dues.
Does filing ITR affect my credit score?
If you file your ITR on time, then you can produce the ITR statement as proof of income when you want to avail of a loan. Without filing your ITR, you lose out on this important proof of income document, which can lower your chances of getting credit from your lender and also lower your credit score.
What is the maximum limit for income tax exemption in India?
The maximum income tax exemption limit for persons below 60 years of age is ₹2.5 Lakh, while for those between 60-80 years of age, it is less than ₹3 Lakh, and for individuals above 80 years of age, it is ₹5 Lakh.
Does the income tax calculator compute TDS?
The income tax calculator will calculate your tax liability for the assessment year and not the Tax Deducted at Source (TDS).
What are the essential details required while e-filing ITR?
Apart from the login details and the password needed to access the Income Tax Department official portal, you will need a copy of your PAN card, a copy of your AADHAR card, your bank statement, or the bank passbook.
How is the income tax for the Financial Year (FY) 2023-2024 calculated?
The income tax for AY 2023-2024 is calculated based on the regime chosen by the taxpayer. The tax rates as announced in Budget 2023 are given above..
What is the standard deduction for FY 2023-24?
The standard deduction for salaried individuals for FY2023-24 is ₹50,000, the same as the standard deduction of the previous year.
Popular Searches
Disclaimers
Please make your own independent decision after consulting your financial or other professional advisor.
*Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfilment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility for tax implications mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you. Buying a life Insurance policy/rider is a long-term commitment. Early termination of the policy/benefit option under a rider usually involves high costs, and the surrender value payable may be less than all the premiums paid.
^Applicable for specific plan options. Please refer brochure for additional details.
**Individual Death Claim Settlement Ratio is 99.01% for FY 2022-23 as per the latest annual audited figures.
$Tax benefits of up to ₹46,800 u/s 80C is calculated at highest tax slab rate of 31.20% (including cess excluding surcharge) on life insurance premium paid of ₹1,50,000. Tax benefits under the policy are subject to conditions laid under Section 80C, 80D,10(10D), 115BAC and other applicable provisions of the Income Tax Act,1961. Good and Service tax and Cess, if any will be charged extra as per prevailing rates. The Tax-Free income is subject to conditions specified under section 10(10D) and other applicable provisions of the Income Tax Act,1961. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.
#Guaranteed Income shall be a fixed percentage of the Annualised Premium / Single Premium (excluding discount) payable in a year. Guaranteed Annual Income as per the chosen Income Frequency shall commence after maturity till the end of the Income Period, irrespective of survival of the life insured(s) during the Income Period.
~Available under Regular Income with an Inbuilt Critical Illness Benefit option
@Riders are not mandatory and are available for a nominal extra cost. For more details on the benefits, premiums and exclusions under the riders please refer to the Rider Brochure or contact our Insurance Advisor or visit our nearest branch office.
Insurance cover is available under the product.
The products are underwritten by Tata AIA Life Insurance Company Ltd.
The plans are not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
L&C/Advt/2023/Jul/2198
