Save up to ₹78,000 using Life + Health Insurance & Investments
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Old Regime Advantage
80C Savings
80D Savings
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Old regime saves you ₹48,000 more than new regime!
Our free Tax Savings Calculator helps Indian taxpayers maximize their tax savings through strategic insurance purchases and eligible investments. Whether you're planning tax-saving investments, optimizing insurance coverage, filing ITR, or balancing financial protection with tax benefits, this tool provides comprehensive tax saving analysis under Section 80C, 80D, and other relevant provisions.
Calculate tax savings from life insurance, analyze health insurance tax benefits, optimize Section 80C deductions, maximize Section 80D exemptions, and make informed tax-planning decisions with our specialized tax savings calculator.
Calculates tax benefits under Section 80C (life insurance), 80D (health insurance), 80CCD(1B) (NPS), and other relevant sections for complete tax planning.
Compare tax savings under both old and new tax regimes to make informed decisions about which regime benefits your specific insurance and investment portfolio.
Get personalized suggestions to optimize your insurance purchases and investments for maximum tax benefits while maintaining adequate financial protection.
Instantly see how different insurance premium amounts affect your overall tax liability and take-home income under various scenarios.
Used by salaried employees, business owners, CAs, tax consultants, and financial advisors across India. No registration required - calculate tax savings instantly!
Life insurance premiums qualify for deduction under Section 80C up to ₹1.5 lakh annually. This includes term insurance, endowment plans, ULIPs, and traditional life policies. The actual tax saving depends on your income tax slab - for 30% slab taxpayers, ₹1.5 lakh premium can save ₹45,000 in tax plus cess.
Health insurance premiums offer deductions under Section 80D: up to ₹25,000 for self, spouse, and children, additional ₹25,000 for parents (₹50,000 if parents are senior citizens), and extra ₹5,000 for preventive health check-ups. Total deduction can go up to ₹1 lakh for family including senior citizen parents.
No, the new tax regime does not allow deductions for insurance premiums under Section 80C and 80D. If you opt for the new regime, you'll get lower tax rates but cannot claim deductions for life insurance, health insurance, or other Chapter VI-A deductions. Choose carefully based on your insurance portfolio.
Tax saving refers to reducing tax liability through eligible deductions and exemptions. Tax planning involves strategic financial decisions throughout the year to optimize tax savings while meeting financial goals. Our calculator helps with both by showing immediate savings and suggesting long-term optimization strategies.