I recently took the unit linked pension plan from Metlife India Insurance. The plan is called MET Advantage. I am paying an annual premium of Rs. 14000. Is the whole premium deductable for tax purposes or only 10,000 rs only deductable?
The EET model doesnt work well for people who have Provident Fund amounts that exceeds Rs100,000 that is exempt. If the PF will be taxed on withdrawal, then the amount above 1Lakh per year would end up getting taxed twice. This doesn't make sense.
As usual the government's only concern is to cheat the people of their hard earned savings. Only the communists will be feel justified when eeryone become socially equal - EQUALLY POOR AND DESPERATE.
I think those who hoard BLACK MONEY ARE THE BEST CITIZENS of the country. They don't allow the CULPRITS in the government to misuse their money and also enjoy the benefits of the labour.
