LIC Tax Saving Policy

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LIC Tax Saving Plans

LIC Tax saving plans with life insurance and guaranteed returns are considered to be the best of all Investments for salaried people and businessmen. LIC Tax Saving plans can be started with minimum of Rs. 1,000/- and by investing regularly and it gives dual Tax benefits under Income Tax Act. As LIC of India is fully owned by Government of India and LIC of India with highest Claim settlement ratio, makes everyone feel safe and secured.

Income Tax Slab for Individuals - year 2017-2018 (Assessment year 2018-19)

Income SlabIndividuals below 60 yearsSenior Citizen (Above 60)Super Senior Citizens
(Above 80 Years )
Up to Rs.2,50,000 Nil Nil Nil
From Rs 2,50,001 to RS 3,00,000 5% Nil Nil
From 3,50,001 To Rs 5,00,000 5% 5% Nil
From 5,00,001 To Rs 10,00,000 20% 20% 20%
From 10,00,001 and above 30% 30% 30%

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