Premiums paid towards an insurance plan will be eligible for a deduction under section 80C.

Any amount received under an insurance plan will be exempt from tax under section 10(10D).

Premium paid towards a keyman policy will be admissible business expenditure.

Amount received on death will be exempt from tax under section 10(10D)

Amount received on maturity will be taxable.

In the equity oriented mutual funds, the dividends will be exempt from tax.

In the case of ELSS schemes, the contribution is an eligible investment avenue under section 80C and the dividends will be exempt from tax.

Buy backs – The amount at which the company buys back the shares is the sale consideration and the difference between the sale amount and the cost of acquisition will be taxed as a capital gain in the hands of the shareholder.

Bonus – the cost of acquisition of bonus shares is nil. Hence, the sale value will be fully taken into consideration for computing capital gains.

Rights – In case the right shares are sold in the market, then the amount will be taxable.

ESOPS – In case the employee exercises his option to purchase the shares and sells the same in the outside market, the amount of gain will be taxable.

RBI bonds – RBI bonds no longer boast of any tax sops.

Infrastructure bonds – Infrastructure bonds issued by ICICI and IDBI etc are eligible investment aenues under section 80C of the income tax act.

POMIS – There are no tax benefits whatsoever in the case of POMIS.