Tax Credit Calculator
Invest in Jubilee Life Insurance plan and avail tax credit on your life insurance premium
Jubilee Life insurance plan entitles you to avail a tax credit on your insurance premium. Use our Tax Credit Calculator to see how much you can save from your income tax.
Taxes are excruciating either if you are a salaried individual or a self-employed. Good news is that you can save a considerable amount from your income tax if you invest in any of the Jubilee Life insurance plan.
Disclaimer: This calculator is for assessment purposes only and should not be considered as an offer or solicitation to buy or sell insurance products. Jubilee Life does not guarantee the accuracy of the result and does not assure receiving of the resultant tax credit amount.
- The Tax Claimant has to be resident in Pakistan
- The Tax Claimant should pay individual life insurance premium to a life insurance company registered with the SECP only.
- Derived income should be chargeable to tax under the head "salary" or income from business'. only.
- Tax credit would be on the basis of (A/B)xC where
- is the tax liability of the person
- is the taxable income under the head salary or business income
- is the lesser of total premium paid by the person or
- 15% of taxable income for the year or
- Five Hundred Thousand Rupees.