How much tax do I pay on LIC premium?
The applicable tax rate on annuity plans would be a marginal 1.8\% instead of the current 1.5\%. For single premium policy or endowment insurance plan, GST for first year premium amount has been increased from 3.75\% to 4.5\%. Subsequently, for renewal premiums, it will be halved of the first year rate, which is 2.25\%.
How can I get LIC premium receipt for tax?
How to get LIC Policy premium paid receipt for Income Tax filing?
- Go to your LIC login page in the URL – https://ebiz.licindia.in/D2CPM/#Login.
- Enter your Username and password and Date of Birth.
- Click on Basic Services menu, you will be able to see the Policy Premium Paid Statement Menu.
Is LIC policy under 80C?
LIC has a host of different insurance policies that are suitable for different types of customers. All tax exemption for payment of LIC premiums are offered as per section 80C of the Income Tax Act, 1961.
How can I download my LIC tax certificate?
LIC Premium Paid Certificate Download For Income Tax Purpose Online
- Register Online for LIC e-Services.
- Login to e-Service Portal.
- Go to the Basic Services.
- Go to Policy Premium Paid Statement.
- Select Policy for Premium Paid Statement.
- Generate a premium paid certificate.
How can I know my LIC policy number without registration?
The Life Insurance Corporation of India provides an SMS number. It can be used to verify the status of a policy without having to register. You need to SMS ASKLICSTAT to 56767877 from your registered phone number.
How to check instalment premium without tax in LIC policy?
There are many ways to check instalment premium without tax. In premium paid receipt premium amount without tax and tax amount both are mentioned separately. In policy bond always premium without tax is mentioned. You can get premium paid certificates from nearest lic branch .
How can I pay my LIC premium online?
You can easily pay your LIC premium online through UPI ( Unified Payments Interface ). There are many android apps that offer UPI Payment some of them are Paytm, BHIM, Phonepay. Just download any of these apps and register using your mobile number which is linked with your bank account.
How do I calculate the premium of an insurance policy without tax?
There are premium calculator to know premium of policies with nd without taxes. Lic all in one one of the best android application for lic premium calculation. If you have existing policies then premium written in policy bond is without tax.
How to make registration online and check LIC policy status?
How to make registration online and check LIC policy status is also described in the subtopics below. You can check details of your LIC policy including details of the LIC premium payment online, accrued bonuses, group schemes, etc. by simply logging on to the official website of LIC India with your LIC login credentials.