फाइनेंस में निवेश के विकल्प
निवेश योजनाएँ: भारत में 14 बेस्ट निवेश योजनाएँ 2024 | मैक्स लाइफ इंश्योरेंस
निवेश योजनाएँ: भारत में सर्वोत्तम निवेश योजनाएँ ऑनलाइन खोजें। म्यूचुअल फंड, FD, PPF, ULIP से सही निवेश योजना जानें और इक्विटी और डेट का सर्वोत्तम लाभ प्राप्त करें।
टैक्स कटौती
सामान्य तौर जो जोखिम (रिस्क) से बचना चाहते हैं उनके लिये डाकघर मासिक आय योजना (पोस्ट ऑफिस मंथली इनकम प्लान) बहुत ही उपयुक्त हैं क्योंकी यह कम जोखिम के साथ अच्छा रिटर्न देती हैं| इस योजना को सबसे अच्छी निवेश योजनाओं में से एक के रूप में जाना जाता है| यहां, आपको समझना होगा कि हालांकि डाकघर मासिक आय योजना (पोस्ट ऑफिस मंथली इनकम प्लान) से होने वाली आय पूरी तरह से टैक्सेबल है, पर यह मंथली इनकम प्लान पर <anchor>टैक्स कटौती</anchor> (टीडीएस) को आकर्षित नहीं करता।
What is TDS – TDS Full Form - TDS Meaning | Max Life Insurance
What is TDS – TDS Full Form - TDS Meaning \| Max Life Insurance

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- [What is TDS](/blog/tax-savings/what-is-tds-and-how-does-it-affect-you) >
- टीडीएस क्या है और यह किस तरह आपको प्रभावित करता है?

- TDS Meaning and Full Form
- What are TDS Rates
- Rules of TDS Deduction
- TDS Payment Due Dates
- TDS Returns
- Tax Deduction from Salary Calculation
- Change of TDS Amount in FY
- TDS Refund Application
- Ensuring Correct TDS Deduction
- Customer Rating

# What is TDS and How Does It Affect You?

An individual can earn income from various sources. Income tax is a [direct tax](/blog/tax-savings/what-is-direct-tax) that they need to pay, depending on which income tax slab their taxable income falls in. According to the Indian tax system, Tax Deducted at Source (TDS) is an esse

ntial part of the taxation and has a significant bearing on the post-tax income of taxpayers. Read on to know more about how this means of collecting income tax works.

...Read More

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Disclaimer: In Unit Linked Policies, the investment Risk in the investment portfolio is borne by the policyholder.

## [View in (हिन्दी)](/blog/tax-savings/hindi/what-is-tds-and-how-does-it-affect-you)

![avatar-image](https://www.maxlifeinsurance.com/static-page/assets/homepage/Alok_0d6b186705_3033335415.webp)

Written by

Alok Mishra:

Reviewed by

Bhaskar Sinha

![avatar-image](https://www.maxlifeinsurance.com/static-page/assets/homepage/Alok_0d6b186705_3033335415.webp)

Alok Mishra

Insurance Writer

Alok Mishra is a Digital and Content Marketing specialist with 10 years of experience. He has spearheaded Web Content, Social Media & Branding, and Community Building initiatives to drive growth for prominent brands.

![avatar-image](https://www.maxlifeinsurance.com/static-page/assets/homepage/thumbnail_Bhaskar_Sinha_a29fac6516_ab00bb7970.webp)

Bhaskar Sinha

Insurance Expert

8+ years of experience in Life Insurance with expertise in Developing Life and Health Products, Digital Sales, Conducting effective trainings and Key Account Management.

## TDS Meaning and TDS Full Form

TDS is a direct taxation mechanism which was introduced to collect taxes from the source of income itself or at the time of income payout. TDS full form is Tax Deducted at Source. Under this mechanism, if a person (deductor) is liable to make payment to any other person (deductee) will deduct tax at source and transfer the balance to the deductee. The TDS amount deducted will be remitted to the Central Government. Deductee can check the Tax Deducted at Source (TDS) amount in the Form 26AS or TDS Certificate issued by the deductor.

TDS helps in keeping a check on tax evasion. Not only this, in this mechanism, taxpayer is not required to pay a lumpsum amount as annual tax at the end of the financial year.

To understand TDS meaning better, let’s take an example. If the nature of payment is professional fees and the specified tax rate is 10%. ABC Ltd makes a payment of Rs 20,000/- towards professional fees to Mr. X, then ABC Ltd shall deduct a tax of Rs. 2,000/- and make a net payment of Rs. 18,000/- (20,000/- deducted by Rs. 2,000/-) to Mr. X. They will directly deposit the amount of Rs. 2,000/- deducted by ABC Ltd to the credit of the government.

![Tax_Benefits_of_Section_10_10d_3_536b9ae9b2.webp](https://www.maxlifeinsurance.com/static-page/assets/homepage/Tax_Benefits_of_Section_10_10d_3_536b9ae9b2_d608f87504.webp)

## What are the TDS rates?

The Indian Tax System has around 20 to 25 sections that govern different types of payments on which TDS is applicable. Here are a few common types of payments on which tax is to be deducted at source along with the relevant section and TDS rates applicable.

SectionPayment TypeRate (%)Sec 192Salary IncomeNo specific rate

(Average rate to be calculated on the basis of
existing slab rate in force)Sec 194Dividend u/s 2(22)10Sec 194 AInterest Income (other than that on securities)10Sec 194 CPayment/ credit to a resident contractor or sub-contractor1 (for HUF and individuals)

2 (for others)
Sec 194 DInsurance Commission5 (for HUF and individuals)

10 (for others)
Sec 194 GCommission on sale of lottery tickets10Sec 194HCommission or Brokerage5Sec 194-IRental Income received2 (from plant, machinery or equipments)

10 (from furniture or fixtures, land and building)
Sec 194-IATransfer of any immovable property (other than rural land)1Sec 194 JRoyalty, technical or Professional fees or remuneration to a director10Sec 194LAAcquisition of any specific immovable property10

## Calculate your Income Tax

Basic Details

![minus](/corp-static/images/minus.svg)

Financial YearFY 2021 - 22FY 2022 - 23FY 2023 - 24FY 2024 - 25FY 2025 - 26

AgeBelow 60 years60 years and below 80 years80 years and above

Income Details

![plus](/corp-static/images/plus.svg)

Deductions

![plus](/corp-static/images/plus.svg)

Tax Paid

![plus](/corp-static/images/plus.svg)

Old RegimeNew Regime

## Overall Summary

Net Tax payable

₹ 0

Gross Income

₹ 0

Standard Deduction

₹ 50,000

Total Deduction

₹ 0

Taxable Income

₹ 0

Tax Payable

₹ 0

Taxes Already Paid

₹ 0

Net Tax Payable

₹ 0

![tax-congrats](/corp-static/images/congrats.svg)

#### Congratulations!

You have no tax liability.

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## What are the rules for Tax Deducted at Source?

There are rules concerning not just [income tax](/blog/tax-savings/short-term-investment-plans-for-income-tax-benefits) return filing but also concerning TDS. If an individual or organization meets with these rules adequately, they will be able to avoid penalty, fees or interest. The main rules related to TDS are:

- One of the first essential rules is that Tax Deducted at Source needs to be deducted at the time when the payment either gets due or when the actual amount is made, whichever is earlier
- Delay in deduction of TDS will attract interest @ 1% per month until the tax is deducted
- Every person, whether an employer or otherwise, needs to credit the tax deducted to the government’s account by the 7th day of the following month
- In case of late or non-payment of TDS, an interest @ 1.5% per month will be levied until the tax has not been deposited

## TDS Payment Due Dates

Every employer or deductor, who deducts the TDS from any employee or individual providing any professional service, is required to credit the tax deducted at source to the Central Government’s account before the specified due date. The monthly due date for TDS payment is as below:

MonthDue dateAprilOn or before 7th of MayMayOn or before 7th of JuneJuneOn or before 7th of JulyJulyOn or before 7th of AugustAugustOn or before 7th of SeptemberSeptemberOn or before 7th of OctoberOctoberOn or before 7th of NovemberNovemberOn or before 7th of DecemberDecemberOn or before 7th of JanuaryJanuaryOn or before 7th of FebruaryFebruaryOn or before 7th of MarchMarchOn or before 30th of April

## TDS Returns

TDS returns need to be filed every quarter. In case of late or non-filing of the return, a fine or fees of Rs. 200/- per day under section 234E of the Income Tax Act, 1961 until you finally file the return. However, this sum should not exceed the amount of tax to be paid. Following are the due dates of filing TDS returns:

QuarterQuarter PeriodDue date to file TDS return1st QuarterApril to JuneOn 31st of July of the same FY2nd QuarterJuly to SeptemberOn 31st of Oct of the same FY3rd QuarterOctober to DecemberOn 31st of Jan of the same FY4th QuarterJanuary to MarchOn 31st of May next financial year

![tds_on_salary_1_min_1_d677feebfd_39a50b8655](https://www.maxlifeinsurance.com/static-page/assets/homepage/tds_on_salary_1_min_1_d677feebfd_39a50b8655.webp)

## How much tax needs to be deducted from salary?

One of the most common types of payment made by individuals is salary to employees. As per the current laws governing income tax, there is no fixed rate of TDS deduction from salary income. It depends on the income tax slabs applicable to the employee’s taxable income. The employer then calculates the tax liability based on the 'Average rate of Income Tax.'

The average rate refers to the total tax liability divided by the total income of the employee. To arrive at the total tax liability, the employer will consider any investment made by the employee before deducting tax on salary.

- **Exemption:** No tax to be deducted at source unless the estimated salary exceeds the basic exemption limit.
- **Exempted allowances:** Allowances such as Leave Travel Concession (LTC), [House Rent Allowance (HRA)](/blog/tax-savings/hra-calculation), conveyance, travelling are considered as exemptions as per prescribed limits. Further, other perquisites not forming part of the salary should be deducted from the employee’s total salary while calculating taxable salary.
- **Other Deductions:** There are other deductions such as ones under Section [80C](/blog/tax-savings/section-80c), 80CCC, 80CCD, 80CCG, [80D](/blog/tax-savings/section-80d), 80DD, 80DDB, [80E](/blog/tax-savings/section-80e), and 80EE. which should be considered at the time of calculation of Annual Income and Tax Deducted at Source.

- **Note:** Individual will be required to invest and declare these deductions to claim the same.

![Section_80_C_01_1_f6c128cdbf_1_8f0481159d](https://www.maxlifeinsurance.com/static-page/assets/homepage/Section_80_C_01_1_f6c128cdbf_1_8f0481159d.webp)

## Will the TDS amount change during the Financial Year?

Under the usual case, the employer deducts TDS based on the employee's net taxable income. It means the amount of gross taxable income minus tax-saving deductions (according to the information shared by employees) under sections 80C to 80U.

Since the calculation of the average rate of income tax is based upon declarations made by the employee and employee’s forecasted salary for the upcoming period, it may change the following circumstances:

- Any bonus or increment received by an employee during the year which has resulted in an increase in their income and therefore, taxes payable
- Submission of [tax-saving investment](/blog/tax-savings/short-term-investment-plans-for-income-tax-benefits) proofs that were earlier not submitted
- The actual tax-saving investment amount is less than the declaration made by the employee at the beginning of the year
- In case the employee switches to a new job

In such cases, the additional TDS will be deducted in later months to compensate for the lower deduction earlier. Similarly, if due to any reason, the employer has deducted a higher rate of TDS, he will deduct lower TDS in the following months to average out the total TDS.

![What_is_TDS_4_0132f3c4ab_39311ad2a9](https://www.maxlifeinsurance.com/static-page/assets/homepage/What_is_TDS_4_0132f3c4ab_39311ad2a9.webp)

## How to apply for a TDS refund?

A major misconception that many individuals have is that excess TDS refund is different from that of income tax refund. However, according to the Indian Tax System, there is only one type of return that you claim at the time of filing your annual income tax return.

For filing your TDS refund, it is compulsory to quote bank account details such as account number and IFSC code. Failing to do so will not generate a valid file for you. In case if someone deducts more tax than he should have deducted, then there will be an income tax refund, which can be claimed upon the filing of the annual income tax return (ITR).

For example, you own a transport agency, and yours is a proprietorship firm. You presented an invoice for Rs. 20,000/- and the person paying freight paid you a net amount of Rs. 19,600/- (after deducting tax of Rs. 1,000/- @ 2% under section 194C). In this case, the tax will be deducted at 2% instead of 1% and hence deducted excess TDS by Rs. 200/-. This excess TDS of Rs. 200 will arise as a refund in the income tax return, according to the Income Tax Act, 1961.

## Ensure Proper TDS Deduction

Tax Deducted at Source is an essential legal obligation for everyone earning an income. It ensures that there is no tax evasion as it is levied at the source itself. Every employer, as well as individual, should give proper attention to meeting with this deduction. It is because non-filing or late filing of Tax Deducted at Source will attract penalties and fines.

Along with being aware of how to file ITR, Individuals at their end should share proper documentation with the employer as well as check online for any updates in TDS provisions. It will ensure that your employer makes the right Tax Deducted at Source declaration from your salary income.

To understand how TDS is calculated at your organization’s level, you can use online [TDS calculators](https://incometaxindia.gov.in/Pages/tools/tds-calculator.aspx). The TDS deduction takes place before the stage of Income tax filing online, so make sure that you get it right to stay on track.

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ARN NO: June23/Bg/21AA

Sources:

\[1\] www.incometaxindia.gov.in/pages/tax-laws-rules.aspx

\[2\] www.incometaxindia.gov.in/tutorials/24.%20int.%20for%20delay%20in%20pymnt%20of%20tds.pdf

![tick_a2b9cfa3ac](https://www.maxlifeinsurance.com/static-page/assets/homepage/tick_a2b9cfa3ac.png)

#### Related Articles

- [How to save Income Tax](/blog/tax-savings/how-to-save-income-tax)
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- [TDS Refund](/blog/tax-savings/tds-refund)
- [TDS Challan](/blog/tax-savings/tds-challan)
- [TDS on FD](/blog/tax-savings/tds-on-fd)
- [What is TDS?](/blog/tax-savings/e-filing-income-tax-all-you-need-to-know)
- [TDS on Property](/blog/tax-savings/tds-on-property)
- [TDS on Rent](/blog/tax-savings/tds-on-rent)

![tick_a2b9cfa3ac](https://www.maxlifeinsurance.com/static-page/assets/homepage/tick_a2b9cfa3ac.png)

#### Tax Articles

- [Income Tax Slab for FY 2020-21](/blog/tax-savings/income-tax-slab-fy-2022-23)
- [Income Tax Slab Rates & Deductions](/blog/tax-savings/everything-you-need-to-know-about-income-tax-slabs-2021-22)
- [Section 80C](/blog/tax-savings/section-80c)
- [Section 80D](/blog/tax-savings/section-80d)
- [Last Date to File ITR](/blog/tax-savings/reasons-why-you-need-to-file-your-itr-on-time)
- [How to File ITR Online?](/blog/tax-savings/e-filing-income-tax-all-you-need-to-know)
- [What is TDS?](/blog/tax-savings/what-is-tds-and-how-does-it-affect-you)
- [Types of Taxes in India](/blog/tax-savings/what-are-the-types-of-taxes-in-india)
- [What is GST?](/blog/tax-savings/faqs-tax-benefits)

![tick_a2b9cfa3ac](https://www.maxlifeinsurance.com/static-page/assets/homepage/tick_a2b9cfa3ac.png)

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BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

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](https://www.axisbank.com/) .respectively and with their consents, are used by Max Life Insurance Co. Ltd

### DISCLAIMERS

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. 90C, Udyog Vihar, 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](https://m.rbi.org.in//Scripts/BS_ViewMasDirections.aspx?id=10598).

\*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: 104L098V06) 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 (UIN: 104L098V06)

\*#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.

Privacy Policy

^^On completion of policy term

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

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 nominee’s photo identity proof
\> Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in
case of accidental death)

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

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

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.

4InstaClaim TM is available for all versions of (UIN: 104N118V09). 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 nominee’s photo identity proof • Discharge/Death summary attested by hospital
authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

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

6The 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

7Available with Max Life Smart Wealth Plan (UIN: 104N116V12)

8Available with Max Life Smart Fixed-return Digital Plan (UIN: 104N123V05). The
guaranteed benefits are available with selected life insurance plans & are applicable if all due premiums are
paid.

9The 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: 104N118V09)– 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’

**##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.

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

\*^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.

**~ Conditions 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 2023-2024

@3Tax 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.

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.

##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.

~1Max 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.

@>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.

**^1Disclaimer**: 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 Term Plan (UIN: 104N125V05) with a life cover of **Rs. 50**
**lakh.**

**^2Disclaimer**: 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 Term Plan (UIN: 104N125V05) with a life cover of **Rs. 75**
**lakh.**

**^3Disclaimer**: 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 Term Plan (UIN: 104N125V05) with a life cover of **Rs. 1**
**Cr.**

**^4Disclaimer**: 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 Term Plan (UIN: 104N125V05) with a life cover of **Rs. 1.5**
**Cr.**

**^5Disclaimer**: 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 Term Plan (UIN: 104N125V05) with a life cover of **Rs. 2 Cr.**

**^6Disclaimer**: 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 Term Plan (UIN: 104N125V05) with a life cover of **Rs. 5 Cr.**

**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 Total Elite Protection Term Plan (UIN: 104N125V05)

~^ **Disclaimer**: 5 year return (CAGR – Compound Annualised Growth Rate) from Max Life High Growth Fund
(ULIF01311/02/08LIFEHIGHGR104) as on 31/07/2024

^~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

~4 Subject to submission of all documents required for GST waiver.

\*++Max Life's Nifty Alpha 50 Fund tracks the NSE's Nifty Alpha 50 Index, subject to tracking error. The above values have been calculated by projecting historical returns of the Nifty Alpha 50 index, after adjusting for all expenses, except the tracking error, in Max Life's online savings plan (variant 1) for a 35-year-old male investing 10k per month for 10 years and maturity after 20 years. The calculations have been done using historical returns of the Nifty Alpha 50 index and may not be indicative of the future performance of Max Life's Nifty Alpha 50 Fund. The above values have been calculated basis 10 year returns of 26.4% (30th Apr'24) of the Nifty Alpha 50 Index.

\*+Nifty Mid-cap 150 Momentum 50 Index was launched in Aug’22. These are returns of benchmark indices and are not indicative of return on Max Life Insurance’s Midcap Momentum Index fund. 10 year return of NIFTY Midcap 150 Momentum 50 Index as on 27/05/2024. Max Life Midcap Momentum Index Fund (SFIN: ULIF02802/01/24MIDMOMENTM104) is passively managed Index Fund that mirrors NIFTY Midcap 150 Momentum 50 Index.

\*&10 year return of Nifty Smallcap 250 Quality 50 Index as on 30/04/2024. The past returns are extrapolation of index fund returns up to past 10 years using same formula (provided by NSE). The returns are not indicative of the future performance of the fund. Max Life Nifty Smallcap Quality Index Fund is passively managed Index Fund that mirrors Nifty Smallcap 250 Quality 50 Index. The objective of the fund is to invest in companies with similar weights as in the index and generate returns as closely as possible, subject to tracking error.

@1Standard premium for 20-year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V05). The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate, purchasing via web link. 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. \| ~1 Get back all the premiums paid with Special Exit value. This can be exercised in any policy year starting 30th policy year, but not during the last 4 policy years. Available for minimum policy term of 40 years. Benefit available with special exit value - the total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums exclusive of any applicable taxes, cesses or levies. This feature shall be applicable on the base cover premium only and not for additional optional benefits like Accelerated Critical Illness, Accident cover, Joint life cover, any attached riders and Voluntary Sum Assured Top-Up.

@2Standard premium for 20-year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V05). The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate, purchasing via web link. 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. \| ~1 Get back all the premiums paid with Special Exit value. This can be exercised in any policy year starting 30th policy year, but not during the last 4 policy years. Available for minimum policy term of 40 years. Benefit available with special exit value - the total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums exclusive of any applicable taxes, cesses or levies. This feature shall be applicable on the base cover premium only and not for additional optional benefits like Accelerated Critical Illness, Accident cover, Joint life cover, any attached riders and Voluntary Sum Assured Top-Up.

**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).

**Disclaimer:\*\*+** NIFTY 500 Momentum 50 Index was launched in June'24. The past returns are back tested based on historical returns and formula (provided by NSE). These are returns of benchmark indices as on 11 June’24 and are not indicative of returns on Max Life Insurance’s newly launched NIFTY 500 Momentum 50 Fund. Max Life’s NIFTY 500 Momentum 50 Fund (SFIN:ULIF03014/08/24MOMENFIFTY104) is a passively managed Index Fund that mirrors NSE’s NIFTY 500 Momentum 50 Index, subject to tracking error. The fund value calculation is done by projecting historical returns of NSE’s NIFTY 500 Momentum 50 Index, after adjusting for all expenses (except tracking error) in Max Life’s Online Savings Plan (UIN: 104L098V06) for a 30 year old male investing 10k per month for 10 years. The above values have been calculated assuming 25% p.a. gross investment returns as on 11 June'24, which is the 10-year return of NSE's NIFTY 500 Momentum 50 Index (backtested).

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

Note: For Sum assured of 75 lakh, 1 crore, 1.5 crore and 2 crore, the below calculations are based on Max Life Smart Total Elite Protection Plan (A Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan, UIN:104N125V05). Monthly premium amounts are excluding GST and before any applicable discounts assuming Regular Pay and monthly payment mode.

Age of Male ApplicantPremium Amount for Rs. 75 lakh Term PlanPremium Amount for Rs. 1 crore Term PlanPremium Amount for Rs. 1.5 crore Term PlanPremium Amount for Rs. 2 crore Term PlanSmokerNon-SmokerSmokerNon-SmokerSmokerNon-SmokerSmokerNon-Smoker18 Years (PPT: 67 years)1417/Month

Total Premium payable: 10.79 lakh885/Month

Total Premium payable: 6.74 lakh1429/Month

Total Premium payable: 10.88 lakh893/Month

Total Premium payable: 6.80 lakh2143/Month

Total Premium payable: 16.32 lakh1340/Month

Total Premium payable: 10.20 lakh2547/Month

Total Premium payable: 19.39 lakh1592/Month

Total Premium payable: 12.12 lakh25 Years (PPT: 60 years)1872/Month

Total Premium payable: 12.76 lakh1170/Month

Total Premium payable: 7.98 lakh1956/Month

Total Premium payable: 13.34 lakh1223/Month

Total Premium payable: 8.34 lakh2934/Month

Total Premium payable: 20.00 lakh1834/Month

Total Premium payable: 12.50 lakh3436/Month

Total Premium payable: 23.42 lakh2147/Month

Total Premium payable: 14.64 lakh35 Years (PPT: 50 years)3030/Month

Total Premium payable: 17.22 lakh1824/Month

Total Premium payable: 10.76 lakh3421/Month

Total Premium payable: 19.44 lakh2138/Month

Total Premium payable: 12.15 lakh5131/Month

Total Premium payable: 29.16 lakh3207/Month

Total Premium payable: 18.22 lakh5663/Month

Total Premium payable: 32.18 lakh3540/Month

Total Premium payable: 20.11 lakh45 Years (PPT: 40 years)5687/Month

Total Premium payable: 25.85 lakh3554/Month

Total Premium payable: 16.16 lakh6314/Month

Total Premium payable: 28.70 lakh3946/Month

Total Premium payable: 17.94 lakh9470/Month

Total Premium payable: 43.05 lakh5919/Month

Total Premium payable: 26.90 lakh11948/Month

Total Premium payable: 54.31 lakh7468/Month

Total Premium payable: 33.94 lakh55 Years (PPT: 30 years)11,101/Month

Total Premium payable: 37.84 lakh6938/Month

Total Premium payable: 23.65 lakh13,065/Month

Total Premium payable: 44.54 lakh8166/Month

Total Premium payable: 27.84 lakh19,598/Month

Total Premium payable: 66.81 lakh12,249/Month

Total Premium payable: 41.76 lakh24,914/Month

Total Premium payable: 84.93 lakh15,571/Month

Total Premium payable: 53.08 lakh60 Years (PPT: 25 years)16,044/Month

Total Premium payable: 45.58 lakh10,027/Month

Total Premium payable: 28.49 lakh19,015/Month

Total Premium payable: 54.02 lakh11,884/Month

Total Premium payable: 33.76 lakh28,523/Month

Total Premium payable: 81.03 lakh17,827/Month

Total Premium payable: 50.64 lakh35,894/Month

Total Premium payable: 101.97 lakh22,433/Month

Total Premium payable: 63.73 lakh

Age of Female ApplicantPremium Amount for Rs. 75 lakh Term PlanPremium Amount for Rs. 1 crore Term PlanPremium Amount for Rs. 1.5 crore Term PlanPremium Amount for Rs. 2 crore Term PlanSmokerNon-SmokerSmokerNon-SmokerSmokerNon-SmokerSmokerNon-Smoker18 Years (PPT: 67 years)1417/Month

Total Premium payable: 10.79 lakh885/Month

Total Premium payable: 6.74 lakh1429/Month

Total Premium payable: 10.88 lakh893/Month

Total Premium payable: 6.80 lakh2143/Month

Total Premium payable: 16.32 lakh1340/Month

Total Premium payable: 10.20 lakh2547/Month

Total Premium payable: 19.39 lakh1592/Month

Total Premium payable: 12.12 lakh25 Years (PPT: 60 years)1626/Month

Total Premium payable: 11.09 lakh1016/Month

Total Premium payable: 6.93 lakh1661/Month

Total Premium payable: 11.36 lakh1038/Month

Total Premium payable: 7.08 lakh2492/Month

Total Premium payable: 16.99 lakh1557/Month

Total Premium payable: 10.62 lakh2831/Month

Total Premium payable: 19.30 lakh1769/Month

Total Premium payable: 12.06 lakh35 Years (PPT: 50 years)2492/Month

Total Premium payable: 14.16 lakh1588/Month

Total Premium payable: 8.85 lakh2766/Month

Total Premium payable: 15.72 lakh1729/Month

Total Premium payable: 9.82 lakh4150/Month

Total Premium payable: 23.58 lakh2593/Month

Total Premium payable: 14.73 lakh4572/Month

Total Premium payable: 25.98 lakh2857/Month

Total Premium payable: 16.23 lakh45 Years (PPT: 40 years)4565/Month

Total Premium payable: 20.75 lakh2853/Month

Total Premium payable: 12.97 lakh4820/Month

Total Premium payable: 21.91 lakh3012/Month

Total Premium payable: 13.69 lakh7229/Month

Total Premium payable: 32.86 lakh4518/Month

Total Premium payable: 20.54 lakh9044/Month

Total Premium payable: 41.11 lakh5652/Month

Total Premium payable: 25.69 lakh55 Years (PPT: 30 years)8460/Month

Total Premium payable: 28.84 lakh5288/Month

Total Premium payable: 18.03 lakh9621/Month

Total Premium payable: 32.80 lakh6013/Month

Total Premium payable: 20.50 lakh14,432/Month

Total Premium payable: 49.20 lakh9020/Month

Total Premium payable: 30.75 lakh18,455/Month

Total Premium payable: 62.91 lakh11,534/Month

Total Premium payable: 39.32 lakh60 Years (PPT: 25 years)12,010/Month

Total Premium payable: 34.12 lakh7506/Month

Total Premium payable: 21.32 lakh14,120/Month

Total Premium payable: 40.11 lakh8825/Month

Total Premium payable: 25.07 lakh21,179/Month

Total Premium payable: 60.17 lakh13,237/Month

Total Premium payable: 37.60 lakh26,611/Month

Total Premium payable: 75.60 lakh16,631/Month

Total Premium payable: 47.62 lakh