Save up to Rs 10815/- on your tax liability under Sec 80D

Dear Kundapur Govardhana Kini, Thank you for being a part of the ICICIdirect.com family. With the onset of the New Year, possibilities are that you're already planning to save tax for the financial year 2009-10. We'd like to update you about the investment approaches you can implement to do effective tax planning. Given below is a precise note on the two sections which are most relevant to your personal income tax planning. Section 80D of the Income Tax Act, 1961 allows you to claim tax deductions for Health Insurance taken for yourself and your family, including parents. Given below is an illustration of the Tax benefit**.   Health Insurance Premium Tax Deduction u/s 80D** For yourself and your family Rs. 15,000/- Rs. 4,635/- For your Parents (above 65 yrs.) Rs. 20,000/- Rs. 6,180/- Total (for self and parents above 65) Rs. 35,000/- Rs.10,815/- The maximum deduction that can be claimed is Rs. 15,000/- for you and your family and an additional Rs. 15,000/- for health insurance bought for your parents (in case your parent/s are Senior Citizens Rs. 20,000/-). Thus, you can deduct up to Rs. 30,000/- from your taxable income for medical insurance premiums paid and save Rs. 9,270/-. Buy Health insurance in 3 easy steps - Calculate Premium Enter Details Make Payment   * Tax benefits are subject to tax laws. # Terms and conditions apply ** Calculated at the highest tax bracket of 30% ICICI Securities Ltd. - Corporate Agent of ICICI Lombard. Composite Corporate Agent License No. 2613930. Registered office of ICICI Securities Ltd (I-Sec) is at ICICI Securities Ltd. - ICICI Centre, H. T. Parekh Marg, Churchgate, Mumbai - 400020, India. Insurance is the subject matter of solicitation. ICICI Securities Ltd. does not underwrite the risk or act as an insurer. ICICI Securities Limited shall not be liable to the Customer for non-availability of the Facility or particular Insurance Policy or non-acceptance of the Customer's proposal by the Insurance Company. The information contained herein is strictly confidential and meant solely for the selected recipient and may not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of ICICI Securities Limited. The contents of this mail are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Nothing contained herein shall be construed as a recommendation or solicitation by ICICI Securities Limited to purchase any Insurance products. Nothing in this mail constitutes investment, legal, accounting and tax advice or a representation that any investment or strategy is suitable or appropriate to your specific circumstances. While due care has been taken in preparing this mail, I-Sec and ! affiliates accept no liabilities for any loss or damage of any kind arising out of any inaccurate, delayed or incomplete information nor for any actions taken in reliance thereon. The information provided may not be taken in substitution for the exercise of independent judgement by any investor. The investor should independently evaluate the investment risks and make independent judgment with regard suitability, profitability, and fitness of any product or service offered herein above. This mail is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject I-Sec and affiliates to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. Persons in whose possession this mail may come are required to inform themselves of and to observe such restriction. Mailing Address: ICICI Lombard General Insurance Company Ltd. Zenith House, Keshavrao Khadye Marg, Mahalaxmi, Mumbai - 34.   To unsubscribe, please Click here. Disclaimer   Insurance is underwritten by ICICI Lombard General Insurance Company Ltd. Insurance is the subject matter of the solicitation. IRDA Reg. No. 115. Misc 63