PRAHLADRAI DALMIA

LIONS COLLEGE OF
COMMERCE &
ECONOMICS

SYBMS – A-4TH SEM

SUB: DIRECT AND INDIRECT TAX
PRESENTED TO : POULOMI MAM

PROJECT ON :
 GROUP MEMBERS

NAME ROLL
NAME ROLL NO. NO.

Ashish Bankeraika
Ashish Bankeraika 07
07
Hiren Chheda 10
Bhavesh Patel 38
Pritesh Shah 43
Hiren Chheda
Keyur Sumeria 52 10

Bhavesh Patel 38
 Introduction
Each one of us desires the best from life and certainly wants our
finances to support our desires. Given the fast pace and complexities
of our day to day lives, as an investor, you would seek a simple
solution for wealth creation and protection. Here’s a plan that helps
you keep it simple. Tata AIG Life Jeevan Lakshya is an easy unit
linked insurance plan. The plan provides you the dual benefit of
investment and protection with just a health declaration. It also acts as
a flexible money saver which helps you to achieve the right asset
allocation through the benefits of rupee cost averaging.
 What Are Benefits Under This Plan?

Death Benefit: In case of unfortunate death of the insured, while

the policy is in force & before the maturity date, his/ her nominee
will get Higher of (i) the Sum Assured net of all Deductible
Partial Withdrawals, if any, from the Regular Premium Account,
or (ii) the Regular Premium Fund Value at applicable unit price.

Maturity Benefit: On survival to the end of the policy term, you

will not only receive the Total Fund Value which is equal to the
value of the Regular Premium Account plus the value of the Top-
Up Premium Account (if applicable) valued at applicable unit
price but also the Maturity Bonus equal to 3% of the regular
premium fund value.
 TAX RELATED PRODUCT
CHILDREN
•TATA AIG Life Investasure superstar
•TATA AIG Life united
Ujjwal Bhawishya plus

CAREER BUILDING
•TATA AIG Life assure Educare
at age 18 & 21
•TATA AIG Life Mahalife Gold
•TATA AIG Life Star Kid Age
 TAX BENIFITS
Premiums paid under this plan are eligible for tax
benefits under section 80C of the Income Tax Act,
1961 .

Moreover, life insurance proceeds enjoy tax benefits

as per section 10(10D) of the said Act. Tax laws are
applicable as per the Income Tax Act, 1961
and are subject to amendments made therein from
time to time.
 FINDINGS
Tata AIG one of the key private player in Indian insurance industry.

 The market share of Tata AIG is considerably increasing and presently it is 7%.

 Premium charged by Tata AIG is competitive in the industry.

 There are only few branches in India

 Advertising in TATA AIG is not effective so it’s not reaching to people effectively.

 Rural market is not given much importance.

 Company has got a very good trained marketing team to Sell its product.
 Life Insurance & Tax
As per Section 10(10D) of the IT Act
Premium cannot exceed 20% of sum assured
throughout the term of the policy Receipts
from life insurance policies are exempt
subject to conditions u/s 10(10D)
Maturity will be taxable even if Top up
increases the SA & premium ratio of 1:5
Tax exempt under this section is allowed in
All withdrawals Surrender
Maturity proceeds Death benefit
Tax Rates for 2009-10

Education cess @ 3% on the tax payable

Sr. Citizen: Tax Payers of the age 65 & above
 Tax Computation Flow
Less :Exempted Income Note : Sec 10(1), 10(10D) etc. are contained
(Chapter III of the IT Act) in Chapter III of the IT Act

Gross Total Income Note : Sec 80C, 80CCC, 80CCD, etc. are
contained in Chapter VI of the IT Act
Less : Deductions
(Chapter VI of the IT Act)

Total Income

Compute Tax

Add : Education Cess

On Tax

Final Tax Liability

GEWISE DISTRIBUTION OF RESPONDENT

No. of Respondents
80

70

60

50

No. of Respondents
40

30

20

10

0
30-45 46-55 56&above
 GENDER OF
RESPONDENTS
No. of Respondents
90

80

70

60

50
No. of Respondents

40

30

20

10

0
male female
EDUCATIONAL QUALIFICATIONS
No. of Respondents
100

90

80

70

60
No. of Respondents
50

40

30

20

10

0
yes no
 Occupation
No. of Respondents
100

90

80

70

60
No. of Respondents
50

40

30

20

10

0
yes no
 Monthly income

No. of Respondents
100
90
80
70
60
No. of Respondents
50
40
30
20
10
0
yes no
 Why opted?
No. of Respondents

100
90
80
70
60
50 No. of Respondents
40
30
20
10
0
yes no
 RATINGS
60
50
40
30
20
10 Excellent
Very Good
0 Good
nt
s
red r ed tes i o d
rn s
i ces i or Poor
e e e ra er u v av
Ag ff ff t p e t
Se
r h
by eso e s o eres o n R r Be
d ic m t c ti e aff
e rv e i n a m St
v id se c h i n n s sto
ro S es a u
p ew g Tr C
s N n
iv ce C ha
r
Se
The facilities provided TATA AIG Life Insurance were segregated in
four categories viz.
excellent, very good, good and poor. According to the survey conducted it is
seen that

•Services provided by agents are scaled as very good with 36%

• New services offered scaled as good with 45%

•Schemes offered rated as good with 50%
•Changes in interest rated as good with 33%
•customer services are quite good with 32%
•Staff behavior is appreciated with 43%

The above statistics are evolved by surveying 15 respondents. It means that the
services and facilities provided are very much appreciated by the consumers.
Customers are satisfied with the returns they are getting, the time taken to
complete a transaction is also very less.
 Services offered are??

no of respondents
70

60

50

40
no of respondents

30

20

10

0
innovative dynamic competitive
 Overall experience
No. of Respondents
100

90

80

70

60
No. of Respondents
50

40

30

20

10

0
yes no
 SUGGESTIONS
 
Company should take necessary steps to increase product awareness.

Improve bonus rate.

The company should also consider their competitors in the market.

Tata AIG has to increase the number of branches.

Tata AIG can come up with affordable and feasible policy for younger and retired
people
Company can target various sub-urban and rural insurable population by policies
for rural people
THANK
YOU