Query About 10 (10D)

[arpitsharma009]

If Suppose I have 2-3 Cr and Want to invest it in a policy in which starting now I get Annual Premium Money paid to me which should be more than ₹13 Lakh per annum and It's Income Tax free/exempted. Is it possible? Aim is to invest such so that for upcoming 30-40 years a person gets life running money and when he dies the amount returned to Nominee.

For a Policy that gives Death Cover and Annual Premium paid to me in 10 10 D Exemption if I pay ₹30L for 10 years then sum assured will be over 10 times (3Cr) as I paid 10 premiums so first condition complies here. Where as if the premium is above 2.5L then it's all taxable(this I read about 10 10D) so is it so that My requirement is irrelevant there is no such provision to do so ?

Does this mean Govt don't mean you to safeguard your life and get Annual Money starting from the first year without waiting for 7-10 years to pay first then a year gap and then get paid, because this is how many policies work and they say it's 10 190D exempted but there is Limitation of ₹2.5L .

What is this ₹2.5L limit, is it for the premium I pay or the Money I get Annually in return for my investment ?
Or is there any other method to do so.

I checked so many knowledge having people here but no one gives a clear answer. Sorry but I expect some solution so Asking things.

 

[zacobite]

If Suppose I have 2-3 Cr and Want to invest it in a policy in which starting now I get Annual Premium Money paid to me which should be more than ₹13 Lakh per annum and It's Income Tax free/exempted. Is it possible? Aim is to invest such so that for upcoming 30-40 years a person gets life running money and when he dies the amount returned to Nominee.

For a Policy that gives Death Cover and Annual Premium paid to me in 10 10 D Exemption if I pay ₹30L for 10 years then sum assured will be over 10 times (3Cr) as I paid 10 premiums so first condition complies here. Where as if the premium is above 2.5L then it's all taxable(this I read about 10 10D) so is it so that My requirement is irrelevant there is no such provision to do so ?

Does this mean Govt don't mean you to safeguard your life and get Annual Money starting from the first year without waiting for 7-10 years to pay first then a year gap and then get paid, because this is how many policies work and they say it's 10 190D exempted but there is Limitation of ₹2.5L .

What is this ₹2.5L limit, is it for the premium I pay or the Money I get Annually in return for my investment ?
Or is there any other method to do so.

I checked so many knowledge having people here but no one gives a clear answer. Sorry but I expect some solution so Asking things.

Such a policy is possible however fully taxable above roughly 5L p.a premium.. 2.5L limit is for ulips... Instead buy a PENSION policy with some deferment in payout.. what your need is.. is more a regular payback which is a pension.. u may actually get better returns..now is s gd time

 

[arpitsharma009]

Thanks. Where to search and how to search can you guide a little.

 

[arpitsharma009]

Because nearly all pention plans are like pay for some years and after that get the annual money. I want to receive it from now onwards. Is that Possible too

 

[zacobite]

Because nearly all pention plans are like pay for some years and after that get the annual money. I want to receive it from now onwards. Is that Possible too

yes.. you have one time pay options as well.. but always better to defer if u don't need immediately.. taxation will be as per slab.. chk for pension plans from insurance cos and compare.. may i know your age as LIC as good plans for Senior citizens.. You can put in a normal safe Debt fund as get similar returns.. Only difference in a pension fund is tht returns are locked.. If u have 2-3 cr to invest then you can actually split it.. near term. next 5 yrs in safe and the later requirements in hybrid..

 

[zacobite]

Thanks. Where to search and how to search can you guide a little.

You can search for Immediate Annuity options.. compare.. dont buy in haste as these are locked..

 

[arpitsharma009]

Thanks. I posted a thread a year ago about SBI Annuity and other annuity but those are all taxable so I was searching for a Exempted one as per my requirements ₹13L per year income for family for rest of the life as usme Ghar chal jayega kitni mehengai ho

 

[zacobite]

Thanks. I posted a thread a year ago about SBI Annuity and other annuity but those are all taxable so I was searching for a Exempted one as per my requirements ₹13L per year income for family for rest of the life as usme Ghar chal jayega kitni mehengai ho

mushkil hai itna tax free milna..let me also check... u have 3 cr to invest right? age? any life / health issues that may stop from getting insurance?

 

[arpitsharma009]

mushkil hai itna tax free milna..let me also check... u have 3 cr to invest right? age? any life / health issues that may stop from getting insurance?

Age 40, Five years Ago had Cancer but All good and healthy Now after surgery etc. If not on my name could take on Wife' s name also she is not having health issue like my past has.

 

[zacobite]

Age 40, Five years Ago had Cancer but All good and healthy Now after surgery etc. If not on my name could take on Wife' s name also she is not having health issue like my past has.

pensions + funds are best.. insurance will be an issue for you.. i got it.. will suggest.. you can evaluate..

 

[arpitsharma009]

It's because Insurance is a Issue now for me so I have to find some other way to have a Earning over investment and that can make my family Survival also as I think 25-30 years me itni bhi inflation nahi hogi ki 1Lakh me normal Ghar na chale