Future Generali India Life Insurance Company Limited is now Generali Central Life Insurance Company Limited. Generali Central Life Insurance Company Limited – A joint venture between Generali – one of the world’s leading insurers and Central Bank of India, India’s finest nationalised bank.
Future Generali India Life Insurance Company Limited is now Generali Central Life Insurance Company Limited. Generali Central Life Insurance Company Limited – A joint venture between Generali – one of the world’s leading insurers and Central Bank of India, India’s finest nationalised bank.
TDS Rate Chart for FY 2021-22 (AY 2022-23)
7 mins
9.2KTDS (Tax Deducted at Source) was introduced to collect taxes at the point of income generation. As per this concept, a person (the deductor) who is liable to make certain payments to another person (the deductee) must deduct tax at the source and remit it to the government. The deductee from whose income tax has been deducted at source is entitled to receive a credit for the amount so deducted if the deductor issues Form 26AS or TDS certificate.
TDS is calculated and levied based on a specified limit. This limit is the maximum level of income at which TDS will be taken from your future earnings. TDS is deducted according to the Indian Income Tax Act, 1961.
TDS is deducted in many ways, including from salary income and Bank FD earnings, interest income from the Post Office, insurance commissions, rent payments, early EPF withdrawals, the sale of immovable property, and rent payments on real estate, etc.
For example:
You invested Rs. 10,00,000 in a life insurance policy for a year at 8% interest. After a year, you earn an interest of Rs. 80,000.
- It is now the responsibility of the life insurance company to deduct TDS on this Rs. 80,000 interest and deposit it with the Income Tax Department and issue you a TDS certificate reflecting this transaction.
- If your income (including the interest on this life insurer policy of Rs. 80,000) is less than Rs. 2,50,000, you can claim the TDS deducted by the insurer and get a refund.
- In the case, where your tax slab is 30%, then you will have to pay the remaining 20% tax (30%-10% TDS already deducted) on such interest income of Rs.80,000. Therefore, you must pay the tax of Rs.16,000 (Rs.24,000 total tax + Rs.8,000 TDS).
Let us know run through the latest TDS rates chart for Financial Year 2021-22 and Assessment Year 2022-23.
TDS Rates Chart for FY 2021-22 (AY 2022-23)
Below are the latest TDS rate table applicable for the Financial Year 2021-22 based on the Budget 2021 amendments;
Note: The rate of TDS shall be increased by applicable surcharge and Health & Education cess. Please consult a tax consultant for more details.
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Got Questions? We’ve Got Answers!
Here are answers to some of the questions you might have.
Life insurance is a financial safety net that supports your loved ones in your absence. If something happens to you, it provides them with funds to help cover everyday expenses, repay debts, and achieve future goals. It gives you peace of mind, knowing your family’s financial future is secure— no matter what.
The right plan depends on your needs.
Start by assessing your life stage, financial goals, and the needs of your family. Consider factors like your income, outstanding loans, future expenses and goals (like children’s education, foreign travel, study abroad), and desired coverage amount. We offer a wide range of plans that cover multiple goals and budgets. To get a better idea and make a confident choice consult with a financial advisor or call us on 1800 102 2355.
A good rule of thumb is to aim for coverage that's 10–15 times your annual income. Consider your family’s living expenses, outstanding loans, children’s education, and long-term goals. The right amount ensures your loved ones can maintain their lifestyle and meet future needs— even in your absence.
We would love to help you choose and buy the right policy for your needs. Call our toll-free number 1800 102 2355 or drop us an email at care@generalicentral.com.
Reach out to us in any way that you prefer, and our team of experts will soon get back to you!
Disclaimers
Understand your policy better with key details and insights into our Generali Central Life Insurance.
This Product is not available for online sale. Life Coverage is included in this Product. For detailed information on this plan including risk factors, exclusions, terms and conditions etc., please refer to the product brochure and consult your advisor, or, visit our website before concluding a sale. Tax benefits are as per the Income Tax Act 1961 and are subject to any amendment made thereto from time to time. If you have any request, grievance, complaint or feedback, you may reach out to us at care@generalicentral.com For further details please access the link: www.generalicentrallife.com/customer-service/grievance-redressal-procedure.
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