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TDS Rates Chart FY 2020-21

TDS Rates have been revised in the wake of the COVID-19 pandemic. Read to know more

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TDS is levied on various sources of income, including those generating commissions, incentives, salaries, dividends, and payments. The Rate of TDS on salary and other income sources may vary as per the nature of income, between 1% to 30%. Moreover, the TDS Rates and its collection is regulated by the Central Board of Taxes (CBTD). Here is everything you must know about TDS Rates and other aspects of TDS.

Why Is TDS Deducted?

You may be aware of TDS or Tax Deducted at Source, which is essentially a spot tax deducted from your actual source of income. Overall, TDS is levied on any income or overheads including:

Salary
Incentives (over and above your salary)
Interests on bank FDs (fixed deposits)
Lotteries
Dividends and Bonds
Commission Payments
Rent payment of any immovable property

While deducting TDS under any of these heads, a fixed TDS deduction rate is applied, and the tax liability is deducted before making the payment. Here, the source or individual who deducts TDS is called a ‘Deductor’, while the individual to whom the payment is being made is known as ‘Deductee’.

Thus, a ‘Deductor’ is your employer/organisation that pays a salary or incentive to you, while you would be a ‘Deductee.’ Moreover, if the Deductor takes more than the required amount as tax, you will be eligible to claim a TDS Refund if you file your TDS Return.

What are the Different TDS Rates?

The employer or Deductor is responsible for providing TDS certificate (Form 16 /16A) to their employee that depicts the computation of the TDS amount deducted. The TDS deducted tax amount is calculated as per applicable TDS Rates. Various TDS Rates And TDS sections relevant to the common types of income/paymentsare illustrated in the following TDS rate chart:

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Relevant Section	Nature of Payment	TDS rate (valid till 13^thMay 2020)
Section 192	Salary	Applicable tax slab
Section 192A	Premature withdrawal from EPF	10%
Section 193	Interest received on securities	10%
Section 194 and 194K	Dividend received from Mutual funds and shares	10%
Section 194A	Interest received (other than Interest on Securities such as Fixed deposit interest)	10%
Section 194B	Winnings from the lottery, crosswords, or any such game	30%
Section 194BB	Winnings from horse races	30%
Section 194D	Insurance Commission received	5% for Non corporates 10% for Corporates
Section 194DA	Life Insurance Plans not tax-exempt under Section 10(10D)	5%
Section 194H	Commission or brokerage received (not including Insurance Commission)	5%
Section 194IA	Purchase of land or property	1%
Section 194IB	Payment of monthly rent by an individual or HUF more than Rs.50,000	5%
Section 194M	Payment / Commission / Brokerage made to professional of Rs.50 lakh and above	5%
Section 194N	Cash withdrawal	2% (exceeding Rs.20 lakh) 5% (exceeding Rs.1 crore)
Section 194J	Payment of Professional Fees	2% (FTS*, call centre) 10%(others)
Section 194EE	Payment of deposits under National Savings Scheme	10%
Section 194 – I(a)	Rent for plant and machinery	2%
Section 194 – I(b)	Rent for immovable property	10%

* Funds Transfer Service

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What are the Different TDS Deduction Exemptions?

Few cases are there, wherein the TDS exemption is offered. TDS deduction is not levied on payments made in favour of RBI (Reserve bank of India), or any recompense made towards the central government.

Moreover, TDS exemptions are provided against the payment of interest from:

What are the Different TDS Deduction Exemptions?

Moreover, TDS exemptions are provided against the payment of interest from:

1) Banking institutions

2) Financial corporations formed under the Finance Bill

3) Income Tax refunds

4) Direct taxes interest payments

5) Investments in LIC (Life Insurance Corporation of India), UTI (Union Trust of India) and co-operative societies

6) Interests earned in savings or recurring deposit accounts held with any co-operative societies or commercial banks

7) Interest earned on NSC (National Savings Certificate), Indira Vikas Patra (IVP), or KVP (Kisan Vikas Patra)

8) Interest earned on NRE (Non-Resident External Rupee) account

9) Any institutions designated as Nil TDS organisation

10) Interest received on the compensation from the Motor Vehicles Claims Tribunal

1) Banking institutions

2) Financial corporations formed under the Finance Bill

3) Income Tax refunds

4) Direct taxes interest payments

5) Investments in LIC (Life Insurance Corporation of India), UTI (Union Trust of India) and co-operative societies

6) Interests earned in savings or recurring deposit accounts held with any co-operative societies or commercial banks

7) Interest earned on NSC (National Savings Certificate), Indira Vikas Patra (IVP), or KVP (Kisan Vikas Patra)

8) Interest earned on NRE (Non-Resident External Rupee) account

9) Any institutions designated as Nil TDS organisation

10) Interest received on the compensation from the Motor Vehicles Claims Tribunal

What are the TDS Rates on Fixed Deposits?

a) The Applicable TDS Rates in case of interest earned on FDs (fixed deposits) are applied beyond a threshold limit of Rs. 40,000 (from FY 2019 – 20 onwards)

b) Earlier the applicable limit was Rs. 10,000 in a financial year

c) In case, you earn more than the threshold limit as interest on fixed deposit (either single or consolidated interest for multiple FDs held with the same PAN number), the applicable TDS rate will be 10% of the maturity proceeds or interest payout, whichever happens, earlier.

d) TDS Rates are only applicable when you (as the payee) receive the accumulated interest Rs. 10,000 in a financial year

e) If you have furnished a PAN (Permanent Account Number), the applicable TDS rate will be 10% on the interest earned

f) Without furnishing the PAN details, the TDS Rates are 20%

g) Senior Citizens (ageing 60 years or more) are TDS exempted, up to a limit of Rs50,000 (earlier the limit was Rs. 10,000)

Read more: TDS on Fixed Deposit

What is the TDS Rates on Sale of the Immovable Property

a) As per Section 194-IA of the Income Tax Act, the TDS Rates applicable on the sale of any immovable property will be at 1%

b) In case, you (as a buyer) are unable to furnish your PAN details; the TDS deduction rate may increase up to a maximum limit of 20%

c) An immovable property may include any residential or commercial plots (excluding the notified land for agricultural purposes), and buildings

d) The transaction must be made via cheque, cash, or draft by the Seller of the property (or transferee)

What is the TDS Rates on Rent of Immovable Property

a) As a resident individual (other than a HUF member) if you are paying rent for immovable property to the resident landlord, you are accountable for withholding TDS

b) The TDS deduction rate of 10% would be applicable in cases where the annual rent amount paid exceeds Rs.2.4 lakh, in the given financial year

What is the TDS Rates on Rent of Immovable Property

a) As a resident individual (other than a HUF member) if you are paying rent for immovable property to the resident landlord, you are accountable for withholding TDS

b) The TDS deduction rate of 10% would be applicable in cases where the annual rent amount paid exceeds Rs.2.4 lakh, in the given financial year

c) The rent payable may include payments in the form of the sublease, lease rental, or other valid agreements for utilising the building, land, or furniture

d) The property owner is accountable to provide a valid rent receipt to you (resident individual) on each payment of rent, which are duly mentioned against any TDS deducted

e) You (resident individual) must provide Form 16 (TDS certificate) to your landlord at the end of each financial year

f) The rent payments can be made through cheques, cash, or draft

c) The rent payable may include payments in the form of the sublease, lease rental, or other valid agreements for utilising the building, land, or furniture

d) The property owner is accountable to provide a valid rent receipt to you (resident individual) on each payment of rent, which are duly mentioned against any TDS deducted

e) You (resident individual) must provide Form 16 (TDS certificate) to your landlord at the end of each financial year

f) The rent payments can be made through cheques, cash, or draft

What is the TDS Rates on Purchase of Immovable Property

a) On purchasing any property, you are liable to pay TDS deduction rate of 1%

b) Land notified to agriculture will not be considered under this TDS provision

c) You must make the transaction via cash, draft, cheque, or any other agreed mode of payment

What is the TDS Rates on Immovable Property for NRI

a) NRIs (Non-Resident Indians) buyers are liable to pay TDS against an immovable property, according to Section 195 of Income Tax Act

b) In case, you (buyer) are making a payment to an NRI; you are accountable for deducting the tax as per the applicable TDS deduction rate

c) Post-sale of any immovable property by an NRI, the capital gains duly received are subjected to income tax

d) The transaction on an immovable property can be made through a cheque, draft, or cash by the transferee

What is the TDS Rates on Withdrawal of EPF?

In case, you (employee) make withdrawals worth Rs. 50,000 and above from your EPF account, within five years of continuous service, you are liable to following TDS Rates:

a) 10% - After submitting PAN details but not Form-15G/15H

What is the TDS Rates on Withdrawal of EPF?

In case, you (employee) make withdrawals worth Rs. 50,000 and above from your EPF account, within five years of continuous service, you are liable to following TDS Rates:

a) 10% - After submitting PAN details but not Form-15G/15H

b) 34.608% or maximum marginal rate - if the PAN details are not furbished

What is the TDS Rates for Salaried Individuals for AY 2020-21?

a) Under Section 192, employers are eligible to deduct TDS from the estimated income of each employee as per applicable Rate of TDS on salary for AY 2020-21

b) No income tax will be deducted if an employee’s estimated income is below the minimum tax slab threshold for a given the financial year

c) No TDS deduction rate is applicable for employees whose total annual income is less than Rs.2,50,000

Different TDS slab rates for salaried individuals are provided below:

TDS slab rates for Salaried Individuals

Taxable Income	TDS Rate
Up to Rs.2.5 lakh	Nil
Between Rs.2.5 lakh and Rs.5 lakh	5%
Between Rs.5 lakh and Rs.10 lakh	20%
Above Rs.10 lakh	30%

TDS slab rates for Senior Individuals (Ageing Between 60 to 80 years)

Taxable Income	TDS Rate
Up to Rs.3 Lakh	Nil
Between Rs.3 Lakh and Rs.5 Lakh	5%
Between Rs.5 Lakh and Rs.10 Lakh	20%
Above Rs.10 Lakh	30%

TDS slab rates for Super Senior Individuals (Ageing 80 Years and Above)

Income Slabs	TDS Rate
Up to Rs.5 lakh	Nil
Between Rs.5 lakh and Rs.10 lakh	20%
Above Rs.10 lakh	30%

What is the TDS Rates on Insurance Commission?

The TDS exemption limit on Insurance commission is Rs. 15,000 (with effect from June 2016)
Section 194D of the Income Tax Act deals with the provisions and responsibilities of TDS Rates in insurance commission

What is the TDS Rates on Insurance Commission?

The TDS exemption limit on Insurance commission is Rs. 15,000 (with effect from June 2016)
Section 194D of the Income Tax Act deals with the provisions and responsibilities of TDS Rates in insurance commission
Any resident who possesses a PAN card is liable to a TDS deduction rate of 5% of non-corporates & 10% for corporates
In case, the PAN details are not available; the TDS deduction rate would be 20%

TDS Rates on other forms of commissions are as follows:

Section	Nature of Commission	TDS Rates
Section 194G	Commission received on the sale of lottery tickets	5%
Section 194H	Commission or brokerage	5%
Section 194J	Fee / Remuneration/ Commission to a Director	10%

Any resident who possesses a PAN card is liable to a TDS deduction rate of 5% of non-corporates & 10% for corporates
In case, the PAN details are not available; the TDS deduction rate would be 20%

TDS Rates on other forms of commissions are as follows:

Section	Nature of Commission	TDS Rates
Section 194G	Commission received on the sale of lottery tickets	5%
Section 194H	Commission or brokerage	5%
Section 194J	Fee / Remuneration/ Commission to a Director	10%

What is the TDS Rates on Services

According to Section 194J of the Income Tax Act, an individual is liable to deduct on the following payments made to a resident person (except HUF or individual):

Fee for professional services
Fee for technical services it will be deducted @ 2%
Royalty
Fee paid / Remuneration to a director

If a payee provides PAN details, he or she will be liable to a TDS deduction rate of 10% (excluding any cess and surcharges)

In cases where the PAN details are unavailable, the payee is responsible for paying higher of the following TDS Rates:

TDS Rates prescribed under the Finance Act
TDS deduction rate of 20%
TDS Rates specified under the relevant provisions of the Income Tax Act

What is the TDS Rates on Contracts

1. Under Section 194C, any payment made to a contractor or subcontractor for any work including:

Advertising contract
Production, Telecast, and Broadcast of such programs
Carriage of goods and passengers through various modes of transport (excluding the Railways)
Catering services
Supply or manufacture of products as per customer’s requirements or specifications
Supply of labour for contractual work

2. For Residential Individuals and HUF, the TDS deduction rate of 1% is applicable on contracts under section 194C

3. For others, the TDS deduction rate of 2% is applicable

4. Any Payee who is unable to provide PAN details will be liable to pay a TDS deduction rate of 20%.

Changes in the TDS Rates (As of 14th May 2020)

1. Due to the COVID-19 situation, the TDS Rates on non-salaried payments made to Indian residents have been reduced by 25% under the Atma Nirbhar Bharat Abhiyaan

2. The lower TDS Rates will be in effect for the period from 14th May 2020 to 31st March 2021

Changes in the TDS Rates (As of 14th May 2020)

1. Due to the COVID-19 situation, the TDS Rates on non-salaried payments made to Indian residents have been reduced by 25% under the Atma Nirbhar Bharat Abhiyaan

2. The lower TDS Rates will be in effect for the period from 14th May 2020 to 31st March 2021

3. There will be no reduction in TDS Rates, in cases where the tax deduction or collection is made at a higher rate because of the non-availability of the PAN or Aadhaar details

4. The changes aim to increase liquidity for individuals so that they can tackle the COVID-19 induced financial distress

5. These reduced TDS Rates will culminate into a higher self-assessment tax later

3. There will be no reduction in TDS Rates, in cases where the tax deduction or collection is made at a higher rate because of the non-availability of the PAN or Aadhaar details

4. The changes aim to increase liquidity for individuals so that they can tackle the COVID-19 induced financial distress

5. These reduced TDS Rates will culminate into a higher self-assessment tax later

The revised TDS Rates are illustrated in the TDS rate chart below:

Relevant Section	Nature of Payment	Existing TDS Rates	New TDS Rates (14th May 2020 onwards)
Section 192A	Premature withdrawal from EPF	10%	10%
Section 193	Premature withdrawal from EPF	10%	7.50%
Section 194 and 194K	Interest received on securities	10%	7.50%
Section 194A	Dividend received from Mutual funds and shares	10%	7.50%
Section 194B	Interest received (other than Interest on Securities such as Fixed deposit interest)	30%	30%
Section 194BB	Winnings from the lottery, crosswords, or any such game	30%	30%
Section 194D	Winnings from horse races	5%	3.75%
Section 194DA	Insurance Commission received	5%	3.75%
Section 194H	Life Insurance Plans not tax-exempt under Section 10(10D)	5%	3.75%
Section 194IA	Commission or brokerage received (not including Insurance Commission)	1%	0.75%
Section 194IB	Purchase of land or property	5%	3.75%
Section 194M	Payment of monthly rent by an individual or HUF more than Rs. 50,000	5%	3.75%
Section 194N	Payment / Commission / Brokerage made to professional of Rs 50 lakh and above	2% (exceeding Rs 20 lakhs) 5% (exceeding Rs 1 crore)	2%
Section 194J	Cash withdrawal	2% (FTS*, call centre) 10%(others)	1.5%(FTS*, call centre) 7.5%(others)
Section 194EE	Payment of Professional Fees	10%	7.50%
Section 194 – I(a)	Payment of deposits under National Savings Scheme	2%	1.50%
Section 194 – I(b)	Rent for plant and machinery	10%	7.5%

* Fund Transfer Services

FAQs

Q. On which items TDS should be deducted?

A. According to the Income Tax Act, the following incomes are subject to TDS deductions:

Salary (under Section 192)
Interest on Securities (under Section 193)
Dividends (under Section 194)
Interest (excluding interest on securities) (under Section 194A)
Winning from lottery or crosswords (under Section 194B)
Winning from horse races (under Section 194BB)
Payment to contractors or subcontractors (under Section 194C)
Insurance commission (under Section 194D)
Payment to NRI sportsmen, entertainers, or sports association (under Section 194E)
Payment received on deposits under NSC (under Section 194EE)
Payments received by repurchasing units under mutual fund or UTI (Unit Trust of India) (under Section 194F)
Commission received on the sale of lottery tickets (under Section 194G)
Commission or brokerage (under Section 194H)
Rent (under Section 194I)
Fees for professional / technical services / remuneration to a Director excluding salary (under Section 194J)
Payment of compensation on acquiring an immovable property (under Section 194LA)
Interest from infrastructure debt fund (under Section 194LB)
Other sum payable to an NRI (under Section 195)
Long term capital gains on units from offshore funds (under Section 196B)
Income from foreign currency bonds / shares of an Indian company (under Section 196C)
Income on securities from foreign institutional investors (under Section 196D)
Interest earned from Indian company (under Section 194LC)

Q. What happens when TDS is not deposited by deductor?

A. In case, a deductor (employer or organisation) does not pay the TDS amount to the Income Tax department, the TDS will not be credited against your PAN in your Form 26AS. Moreover, you would not be able to take a tax credit of the TDS, at the time of filing your income tax return.

If you choose to take the tax credit for the unpaid TDS amount, you will receive a notice from the income tax department, informing about the mismatch in the taxes paid and TDS claimed.

Q. What are the duties of an employer/organisation deducting TDS?

A.Following are the basic duties of an employer/organisation who is responsible to deduct TDS:

They must obtain Tax Deduction Account Number and provide the same across all the TDS related documents
They must deduct the tax at source at the applicable TDS deduction rate
They must pay the TDS deducted to the credit of the Government (within the specified due date*).
They must file the periodic TDS statements including the TDS return (within the specified due date*)
They must issue the TDS certificate to the employees (within the specified due date*)

*Refer the tax calendar for the due dates

Q. How can I check the TDS amount deducted from my salary by the employer?

A. To check the amount of TDS deducted on your salary, you can ask your employer to provide you a TDS certificate. You can also check your Form 26AS from your e-filing account at https://incometaxindiaefiling.gov.in

Alternatively, you can use the “View Your Tax Credit” facility available at www.incometaxindia.gov.in to check the TDS amount deducted.

Sources:

https://www.incometaxindia.gov.in/_layouts/15/dit/mobile/faqs/faq-questions.aspx?key=FAQs+on+Tax+Deducted+at+Source+(TDS)&k=

https://www.hostbooks.com/in/tds-chart-rates/

https://tax2win.in/guide/tds

https://taxguru.in/income-tax/tds-rate-chart-ay-2020-21-ay-2021-22.html

Disclaimer:

Save 46800 on taxes if the insurance premium amount is Rs.1.5 lakh per annum and you are:

Regular Individual
Fall under 30% income tax slab having taxable income less than Rs. 50 lakh
Opt for Old tax regime

ARN:- Aug21/Bg/18CC

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IRDAI clarifies to public that:
• IRDAI is not involved in activities like selling insurance policies, announcing
bonus or investment of premiums.
• Public receiving such phone calls are requested to lodge a police complaint.

IRDAI - Registration No. 104. ARN/Web/01/21042021 Category: Life. Validity: Valid.
Corporate Identity Number (CIN):U74899PB2000PLC045626.

Corporate Office: Max Life Insurance Co. Ltd. 11th Floor, DLF Square, Building, Jacaranda Marg, DLF Phase 2, Sector 25, Gurugram, Shahpur, Haryana 122002

Trade logo displayed belongs to Max Financial Services Ltd. and Axis Bank Ltd .respectively and with their consents, are used by Max Life Insurance Co. Ltd

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited.

Corporate Office :

Max Life Insurance Co. Ltd. 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram (Haryana) - 122002.

Operation Center :

Max Life Insurance Co. Ltd, Plot No. 90-C UdyogVihar, Sector 18, Gurugram (Haryana) - 122015.

Customer Helpline: 1860 120 5577 (9:00 A.M to 6:00 P.M Monday to Saturday) * Call charges apply.

Online Helpline - 0124 648 8900 (09:00 AM to 09:00 PM Monday to Saturday).

Fax Number:0124-4159397.

Email ids: service.helpdesk@maxlifeinsurance.com

Website: www.maxlifeinsurance.com

Max Life Insurance is integrated with licensed NBFC FinVu(Cookiejar Technologies Pvt. Ltd. for sharing policy details with regulated Financial Information Users within the Account Aggregator ecosystem after obtaining the Policy holder's consent. Read more about Account Aggregator framework here.

*Life insurance coverage is available in this product. For more details on risk factors, Terms and Conditions please read the prospectus carefully before concluding a sale. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws. Trade logo displayed belongs to Max Financial Services Ltd. and Axis Bank Ltd. respectively and with their consents, are used by Max Life Insurance Co.

Insurance is the subject matter of solicitation. For more details on the risk factors, Terms and Conditions, please read the sales and rider prospectus carefully before concluding a sale. Tax benefits are eligible for tax exemption on fulfilling conditions mentioned under Section 10(10D) of income tax act 1961. Tax exemptions are as per our understanding of law and as per prevailing provisions of income tax at 1961 . Policy holders are advised to consult tax expert for better clarification /interpretation. Please note that all the tax benefits are subject to tax laws at the time of payment of premium or receipt of policy benefits by you. Tax benefits are subject to changes in tax laws. The monthly Income Benefit and Terminal Benefit may be taxable subject to extra premium being loaded at underwriting stage.

Disclaimers for Market Linked Plans & Saving plans:

THE UNIT LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF FIFTH YEAR.

Unit Linked Insurance Products (ULIPs) are different from the traditional insurance products and are subject to the risk factors. The premium paid in the Unit Linked Life Insurance Policies is subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Max Life Insurance is only the name of the insurance company and Max Life Online Savings Plan (UIN: 104L098V05) is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects or returns.

Max Life Online Savings Plan is a Unit Linked Non Participating Individual Life Insurance Plan (UIN104L098V05)

*#Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your Insurer carrying on life insurance business. The assumed rates of return (4% p.a. and 8% p.a.) shown in the illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your Policy depends on a number of factors including future investment performance. The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid.The Maturity Benefit shown in the illustrative example are inclusive/exclusive of taxes.

^*Disclaimer: Applicable for Titanium variant of Max Life Smart Fixed-return Digital (Premium payment of 5 years, Policy term of 10 years) and a healthy female of 18 years old paying Rs.3,60,000/- annually (exclusive of all applicable taxes)

^^On completion of policy term

The savings indicated is the maximum premium difference as compared with offline plan & depends on the variant purchased.

^*All claims that qualify for InstaClaim™ will be paid within 1 working day from date of submission of all mandatory documents else Max Life will pay interest at Bank Rate as on beginning of financial year in which claim has been received (4.65 % p.a. for FY’20) for every day of delay beyond one working day. Interest shall be at the bank rate that is prevalent at beginning of the financial year in which death claim has been received.

Claims for policies completed 3 continuous years. All mandatory documents should be submitted before 3:00pm on a working day.Claim amount on all eligible policies4 is less than Rs. 1 Crore. Claim does not warrant any field verification.Mandatory Documents :> Original policy document > Original/attested copy of death certificate issued by local municipal authority > Death claim application form (Form A) > NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook along with nominees photo identity proof > Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

⁷CMO Asia BFSI Excellence Award 2019

⁵Criteria applicable only for “Term plans” for Graduate, Indian resident with declared income >= 10 lacs with CIBIL score >= 650 (salaried) and >= 700 (self-employed) with no disclosed medical condition

⁴InstaClaim TM is available for all versions of (UIN:104N118V04). Mandatory Documents : • Original policy document • Original/attested copy of death certificate issued by local municipal authority • Death claim application form (Form A) • NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook along with nominees photo identity proof • Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

^##

Tax conditions :

Save 46,800 on taxes if the insurance premium amount is Rs.1.5 lakh per annum and you are a Regular Individual, Fall under 30% income tax slab having taxable income less than Rs. 50 lakh and Opt for Old tax regime ~# Save 54,600 on taxes if the insurance premium amount is Rs.1.5 lakh per annum for life cover and 25,000 for critical illness cover and you are a Regular Individual, Fall under 30% income tax slab having taxable income less than Rs. 50 lakh and Opt for Old tax regime.

³The discount is applicable if you are a salaried employee with a corporate. During policy issuance, Max Life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case.

CI Rider disclaimers:

MAX LIFE CRITICAL ILLNESS AND DISABILITY RIDER (UIN- 104B033V01) available as a rider on payment of additional premium.

^>Extended cover of up to 85 years is available with gold and platinum variant only

@ 64 critical illnesses covered in platinum and platinum plus variant on payment

22 critical illnesses covered in gold and gold plus variant

6 The life insurer is eligible for a discount on renewal premium under regular pay variant by accumulating Healthy Weeks as per terms and conditions of the rider

*^Total premiums paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies and modal extra. Return of premium option is available on payment of additional premium.

~ C onditions for premium break : Available at an additional premium for policies with policy term greater than 30 years and premium payment term greater than 21 years. Option to skip paying premium for 12 months. 2 premium breaks will be available during the premium payment term separated by an interval of at least 10 years

~1 Conditions for Special exit value:

Option to receive all premiums paid back, at a specified point in the term of the policy (free of cost). Available when Return of Premium variant is not chosen. No additional premium to be paid.

~2 Voluntary Top-up Sum assured:

Option to double your insurance cover, basis underwriting, at the time of your need by increasing your sum assured up to an additional 100% of base sum assured, chosen at inception

^^*^^Free look period conditions:

The policyholder has a period of 30 days from the date of receipt of the policy document, to review the terms and conditions of the Policy, where if the policyholder disagrees to any of those terms or conditions, he / she has the option to return the Policy stating the reasons for his objections. The policyholder shall be entitled to a refund of the premiums paid, subject only to deduction of a proportionate risk premium for the period of cover and the expenses incurred by the company on medical examination of the lives insured and stamp duty charges.

^Individual Death Claim Paid Ratio as per audited financials for FY 2022-2023

⁸https://www.moneycontrol.com/news/business/economy/buy-term-insurance-now-as-rates-may-rise-from-april-1-4930921.html

²Total premium will be charged at the time of the policy issuance (subject to underwriting’s decision).

³The guaranteed benefits are available with selected life insurance plans & are applicable if all due premiums are paid

⁴Tax benefits as per prevailing tax laws, subject to change

Terms and conditions for availing 5% employee discount:

^<Due to system constraints, employee is requested to select 5 Lakh and above income which can be changed to actual amount on the information page.

¹The 5% employee discount will be refunded to you once your policy is issued. Submit your documents for getting your policy issued and get 5% employee discount

₉

The percentage savings is for a regular pay Max Life Smart Secure Plus Plan ( A Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan, UIN - 104N118V07)– Life Option for 1 cr life cover for a 35 year old, non-smoker male for a policy term of 40 years vs a 10 year policy term with the same details’

^~*Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V07)

^**Healthy non-smoking male, 24 years, 2 cr cover,25 years policy term,25 year premium payment term, exclusive of GST for Max Life Smart Secure Plus Plan (UIN:104N118V07)

~~Healthy non-smoking male, 24 years, 1 cr cover,25 years policy term,25 year premium payment term, exclusive of GST for Max Life Smart Secure Plus Plan (UIN:104N118V07)

Max Life Smart Wealth Plan| A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan| ^@Rs.9,68,800/- as lump sum at the end of 15 years, for 35 years old healthy male.

ARN - ARN/Web/01/21042021

Past performance of the investment funds do not indicate the future performance of the same. Investors in the Scheme are not being offered any guaranteed / assured returns.The premiums & funds are subject to certain charges related to the fund or to the premium paid.

The premium shall be adjusted on the due date even if it has been received in advance.

For Total Installment Premium -**Total Installment Premium is the Premium payable as per premium paying frequency chosen, it excludes GST and applicable taxes, cesses or levies, if any; and includes loadings for modal premiums, Underwriting Extra Premium and Rider Premiums if any.

For Return of Premium -^~The Return of Premium Option is available on payment of Additional Premium. Premium does not include amount paid for riders and is excluding taxes, cesses and levies. Upon Policyholder's selection of Return of Premium variant this product shall be a Non-Linked Non-Participating Individual Life Insurance Savings Plan.

For Riders -^#Applicable Rider available on the payment of Additional Premium is Max Life Critical Illness and Disability Rider | Non-Linked Non-Participating Individual Pure Risk Premium Health Insurance Rider |UIN: 104B033V01 . Critical Illness and Disability Rider variant opted is Platinum Plus which covers 64 critical Illnesses. The rider cover will only be paid in scenarios where customer is diagnosed with listed 64 critical illnesses or total and permanent disability. Rider will terminate after major critical illness claim is paid to the policyholder. In case customer requests for cancellation of rider only, the solution as a whole will be cancelled and not just the individual rider.

For Additional Benefits -^##On Payment of Additional Premium. The accident cover will only be paid in scenarios where death occurs due to accident.

*~Disclaimer | Max Life Smart Secure Plus Plan. A non-linked non-participating individual pure risk premium life insurance plan |Benefit available with special exit value -Total premium paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies & modal extra. The premium calculated as per Standard premium for 30 year old healthy male, non-smoker, 40 years policy term, 40 years premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan.

₆

Applicable for Titanium variant of Max Life Smart Fixed-return Digital plan (Premium payment of 5 years and Policy term of 10 years) and a healthy male of 18 years paying Rs. 20,000/- per month (exclusive of all applicable taxes) with 7.50% return. Life Insurance is available with this product.

_##

Policy continuance benefit is not available with lifelong wealth variant. **The accrued income will be accumulated on an annual basis at the prevailing reverse repo rate (publish on RBI’s website).

With “Save the date”, you can choose to take your annual income to any special date in a year.

***Available with early wealth variant. Income benefit will be paid as per selected plan terms.

Accidental death benefit is available in call variants except for Single premium variant. Life insurance coverage is available in this product.

_#~

Term Insurance plan bought online directly from Max Life Insurance has no commissions involved.

_~1

Max Life Smart Secure Plus Plan, A non-linked non-participating Individual Pure Risk Premium Life Insurance Plan| Standard Premium for 30 year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan| ~1 Conditions for special exit value: Option to receive all premiums paid back, at a specified point in the term of the policy (free of cost). Available when Return of premium variant is not chosen. No additional premium to be paid. Option to receive all premiums back (exclusive of GST). Flexibility of exiting the plan early. Special Exit Value cover applicable till age 68 & above (of your age). T&C Apply.

⁶

_**

Max Life Critical illness and Disability (UIN- 104B033V01) available as a rider on payment of additional premium. 64 critical illnesses covered in platinum and platinum plus variant on payment.

Available on Payment of Additional Premium. The accident cover will only be paid in scenarios where death occurs due to accident.

⁷Available with Max Life Smart Wealth Plan (UIN: 104N116V11)

⁸Available with Max Life Smart Fixed-return Digital Plan (UIN:104N123V04). The guaranteed benefits are available with selected life insurance plans & are applicable if all due premiums are paid.

**Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V07) with a life cover of Rs. 50 lakh.

^~~Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Total Elite Protection Plan (UIN:104N125V02) with a life cover of Rs. 2 Cr.

**Our Life insurance policies cover COVID-19 life claims under life insurance claims, are subject to applicable terms and conditions of the policy contract and extant regulatory framework.

Disclaimer~*Standard premium for 24-year old healthy female,non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V07)

~^Disclaimer: 5 year return (CAGR – Compound Annualised Growth Rate) from Max Life High Growth Fund (ULIF01311/02/08LIFEHIGHGR104) as on 31/05/2023| ²Nifty Midcap Free Float 100% (5-year return) | For more details on risk factors, terms and conditions and products offered.

^~The assumed rates of return (4% p.a. and 8% p.a.) shown in the illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back. The value of your policy depends on a number of factors including future investment performance. The amount shown is for a 30-year-old healthy male, with 10 years premium payment term, and 35 years policy term with Max Life Online Saving Plan (Unit Linked Non Participating Individual Life Insurance Plan | Life Insurance is available in this product).

**Disclaimer | Max Life Smart Secure Plus Plan. A Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan. | **Standard Premium for 24 Year Old Healthy Female, Non-smoker, 25 Years Policy Term, 25 Year Premium Payment Term (exclusive of GST) for Max Life Smart Secure Plus Plan. | For Male, the Total premium to be paid in 25 years is Rs.2.09 lakhs (exclusive of GST). ~As compared to the similar modal points of Male, Female has to pay Rs.13,800 lesser premium than male for the entire policy term (exclusive of GST).

~3Disclaimer: A 35 year old female opting for a life cover of Rs. 1 Cr till the age of 75 years pays Rs. 3,319 monthly for 10 years while a 35 year old male will pay Rs. 4,168 monthly for 10 years

⁷Disclaimer: Rs. 1,00,29,587 after 14 years at policy maturity on monthly investment of Rs. 16,600 for 12 years for 30 year old male with Max Life Smart Wealth Plan – Long Term Variant. A non-linked non-participating individual life insurance savings plan. The guaranteed benefits are applicable only if all due premiums are paid. Total premiums paid is exclusive of GST. Life Insurance is available in this product. ARN: WP/SWP/250723.

Disclaimer: ^~10 year CAGR of Nifty SmallCap 250 Quality50 index as on 24/07/2023. Max Life Nifty Smallcap Quality Index Fund is passively managed Index fund that tracks the Nifty SmallCap 250 Quality50 index (subject to tracking error).

[12:27 PM] Abhishek Chakravarti (Gurugram Digital Center - Ecommerce)

Disclaimer: *6 Check the Total Premium amount against the respective monthly premium values in the below table.

Age of Male Applicant	Premium Amount for Rs. 75 lakh Term Plan		Premium Amount for Rs. 1 crore Term Plan		Premium Amount for Rs. 1.5 crore Term Plan		Premium Amount for Rs. 2 crore Term Plan
Age of Male Applicant	Smoker	Non-Smoker	Smoker	Non-Smoker	Smoker	Non-Smoker	Smoker	Non-Smoker
18 Years (PPT: 67 years)	1478/Month Total Premium payable: 11.88 lakh	923/Month Total Premium payable: 7.42 lakh	1521/Month Total Premium payable: 12.23 lakh	951/Month Total Premium payable: 7.65 lakh	2283/Month Total Premium payable: 18.35 lakh	1426/Month Total Premium payable: 11.46 lakh	2801/Month Total Premium payable: 22.52 lakh	1751/Month Total Premium payable: 14.08 lakh
25 Years (PPT: 60 years)	1848/Month Total Premium payable: 13.31 lakh	1155/Month Total Premium payable: 8.31 lakh	2083/Month Total Premium payable: 14.99 lakh	1302/Month Total Premium payable: 9.37 lakh	3125/Month Total Premium payable: 22.50 lakh	1953/Month Total Premium payable: 14.10 lakh	3778/Month Total Premium payable: 27.20 lakh	2361/Month Total Premium payable: 17.00 lakh
35 Years (PPT: 55 years)	2856/Month Total Premium payable:	1795/Month Total Premium payable:	3643/Month Total Premium payable: 21.86 lakh	2277/Month Total Premium payable: 13.66 lakh	5464/Month Total Premium payable: 32.79 lakh	3142/Month Total Premium payable: 18.85 lakh	6228/Month Total Premium payable: 37.37 lakh	3893/Month Total Premium payable: 28.02 lakh
45 Years (PPT: 40 years)	5130/Month Total Premium payable: 24.62 lakh	3206/Month Total Premium payable: 15.38 lakh	4818/Month Total Premium payable: 26.02 lakh	3011/Month Total Premium payable: 16.26 lakh	7227/Month Total Premium payable: 34.69 lakh	4517/Month Total Premium payable: 21.68 lakh	7873/Month Total Premium payable: 42.51 lakh	4920/Month Total Premium payable: 26.57 lakh
55 Years (PPT: 30 years)	9719/Month Total Premium payable: 34.99 lakh	6074/Month Total Premium payable: 21.87 lakh	13,912/Month Total Premium payable: 50.09 lakh	8,695/Month Total Premium payable: 31.30 lakh	20,869/Month Total Premium payable: 75.13 lakh	13,043/Month Total Premium payable: 46.96 lakh	27,400/Month Total Premium payable: 98.64 lakh	17,126/Month Total Premium payable: 61.65 lakh
60 Years (PPT: 20 years)	13299/Month Total Premium payable: 31.92 lakh	8312/Month Total Premium payable: 19.95 lakh	20,249/Month Total Premium payable: 60.75 lakh	12,655/Month Total Premium payable: 37.97 lakh	30,373/Month Total Premium payable: 91.12 lakh	18,983/Month Total Premium payable: 68.34 lakh	39,476/Month Total Premium payable: 118.43 lakh	24,672/Month Total Premium payable: 74.02 lakh

Age of Female Applicant	Premium Amount for Rs. 75 lakh Term Plan		Premium Amount for Rs. 1 crore Term Plan		Premium Amount for Rs. 1.5 crore Term Plan		Premium Amount for Rs. 2 crore Term Plan
Age of Female Applicant	Smoker	Non-Smoker	Smoker	Non-Smoker	Smoker	Non-Smoker	Smoker	Non-Smoker
18 Years (PPT: 67 years)	1265/Month Total Premium payable: 10.27 lakh	791/Month Total Premium payable: 6.42 lakh	1521/Month Total Premium payable: 12.23 lakh	951/Month Total Premium payable: 7.65 lakh	2282/Month Total Premium payable: 18.35 lakh	1426/Month Total Premium payable: 11.47 lakh	2801/Month Total Premium payable: 22.52 lakh	1751/Month Total Premium payable: 14.08 lakh
25 Years (PPT: 60 years)	1598/Month Total Premium payable: 11.51 lakh	999/Month Total Premium payable: 7.19 lakh	1769/Month Total Premium payable: 12.74 lakh	1102/Month Total Premium payable: 7.94 lakh	2653/Month Total Premium payable: 19.10 lakh	1658/Month Total Premium payable: 11.94 lakh	3112/Month Total Premium payable: 22.41 lakh	1945/Month Total Premium payable: 14.01 lakh
35 Years (PPT: 55 years)	2345/Month Total Premium payable: 15.48 lakh	1466/Month Total Premium payable: 9.68 lakh	2946/Month Total Premium payable: 17.67 lakh	1841/Month Total Premium payable: 11.05 lakh	4419/Month Total Premium payable: 26.51 lakh	2762/Month Total Premium payable: 16.57 lakh	5028/Month Total Premium payable: 30.17 lakh	3142/Month Total Premium payable: 18.85 lakh
45 Years (PPT: 40 years)	4284/Month Total Premium payable: 20.56 lakh	2678/Month Total Premium payable: 12.85 lakh	3909/Month Total Premium payable: 21.11 lakh	2443/Month Total Premium payable: 13.19 lakh	5864/Month Total Premium payable: 31.67 lakh	3665/Month Total Premium payable: 19.79 lakh	6588/Month Total Premium payable: 35.58 lakh	4118/Month Total Premium payable: 22.24 lakh
55 Years (PPT: 30 years)	7434/Month Total Premium payable: 26.76 lakh	4646/Month Total Premium payable: 16.73 lakh	10,245/Month Total Premium payable: 36.88 lakh	6,403/Month Total Premium payable: 23.05 lakh	15,368/Month Total Premium payable: 55.32 lakh	9605/Month Total Premium payable: 34.58 lakh	20,296/Month Total Premium payable: 73.07 lakh	12,685/Month Total Premium payable: 45.67 lakh
60 Years (PPT: 20 years)	9983/Month Total Premium payable: 23.96 lakh	6240/Month Total Premium payable: 14.98 lakh	15,035/Month Total Premium payable: 45.11 lakh	14,096/Month Total Premium payable: 28.19 lakh	22,553/Month Total Premium payable: 67.66 lakh	14,096/Month Total Premium payable: 42.29 lakh	29,266/Month Total Premium payable: 87.80 Lakh	18,291/Month Total Premium payable: 54.87 lakh

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