Here's how NRIs can benefit from buying health, term insurance in India
NRIs can claim a GST refund on insurance premiums, which makes purchasing Indian policies more affordable
read moreIncome Tax Return 2025: I-T department upgrades ITR-2 filing process, know new changes
The Income Tax Department has launched a new Excel-based utility version of ITR-2 to make filing easier. This form is designed for individuals and Hindu Undivided Families (HUFs) who do not have any business or professional income.
read moreHow to avoid insurance claim rejections: Top mistakes to watch out for
The Insurance Regulatory and Development Authority of India (IRDAI) reported that 11% of health insurance claims were denied in FY24, totalling ₹26,000 crore in repudiated claims.
read moreFile updated ITR before March 31
File your updated Income Tax Return (ITR-U) before March 31, 2025, to correct omissions or errors and avoid penalties. Learn more about filing, deadlines, and additional tax liabilities.
read moreBest term insurance plans for self-employed individuals
Term insurance plays the vital role of a safety net and ensures one's loved ones are protected in the absence of the primary bread earner.
read moreHow pre-existing conditions influence your health insurance coverage?
While pre-existing medical conditions may lead to premium loading or coverage restrictions, being transparent about one’s medical history is essential to avoid claim denials later.
read moreShould you withdraw or reinvest your matured investments?
Understanding the pros and cons of each option ensures you make a strategic decision that aligns with your financial future.
read moreRental Income Taxation: Here’s How To Reduce Your Income Tax Burden
To support property owners, the government provides various tax benefits on let-out properties, which can be used by the taxpayers to reduce their overall taxable income.
read moreTop 5 reasons why women need life insurance in 2025
Here are the top five reasons why women need term life insurance in 2025.
read moreIncome from asset transferred to even your daughter-in-law will be clubbed to your income and will be taxable in your hand in this case, says income tax dept
The Income Tax Department has recently released a new brochure highlighting how clubbing of income provisions is applicable for individual taxpayers.
read moreFaster Credit Score Updates: Why timely payments matter more than ever
Starting January 2025, lenders must update credit records every 15 days instead of once a month. As a result, financial activities will appear on your credit report sooner.
read moreFiling your ITR? Compare the old and new tax regimes to save more
If you are availing exemptions or deductions under the old tax regime, the new tax regime may lead to a higher tax outgo.
read more7 common insurance mistakes you must avoid for financial security
We take a look at some common insurance mistakes which you must avoid to ensure your insurance truly safeguards your financial well-being.
read moreForm 16 and 24Q formats revised! New tax deduction rules you must know
The CBDT circular has been issued on 20 February 2025, and it will be applicable to the tax returns of the financial year 2024-25 (i.e. assessment year 2025-26).
read moreGST reduction on term, health insurance premiums: BIG decision - What sources say
GST On Health Insurance, GST On Term Insurance: Sources said that insurers and DFS have likely reached a consensus for 12 per cent GST on health and term insurance premiums. The current GST rate on heath and term insurance stands at 18 per cent.
read moreHealth insurance room rent limits: What they mean for your coverage
Room rent limits in health insurance affect out-of-pocket expenses. Choosing a room above the limit incurs proportional deductions on related costs, including doctor's fees and nursing charges. Policies may have fixed caps or percentage-based limits, influencing treatment costs significantly.
read moreLICs Smart Pension Plan: What is it and other important FAQs for your retirement planning
LIC Smart Pension Scheme 2025: LIC has introduced the Smart Pension Plan, a non-linked, non-participating annuity plan offering liquidity options for retirees. With flexible payment frequencies and options for single or joint life annuities, the plan guarantees a steady income.
read moreLIC unveils Smart Pension Plan: Single premium annuity with multiple payout options
Designed as a non-par, non-linked savings and immediate annuity plan, it allows entry from 18 to 100 years, depending on the chosen annuity option.
read moreWhy the Income Tax Bill 2025 replaces Assessment Year with Tax Year?
The concept of Previous Year and Assessment Year, thus, were creating confusion in the minds of taxpayers as they represented two different years.
read moreIncome Tax Bill 2025: Key clauses for non-resident Indians
The Income Tax Bill 2025 has several aspects to be considered by the Non-Resident Indians as Clauses replace Sections.
read moreIncome-Tax Bill, 2025: How the new Bill helps taxpayers breathe easy
The essence of the Bill remains the same and the existing tax base, tax rates, computation mechanism etc. have been largely unchanged.
read moreNew Income-Tax bill to provide clearer definition of online games
The Income Tax Bill, 2025 defines 'online game' as any game offered on the internet and accessible through a computer or telecom device.
read moreNew Income Tax Bill to consider crypto as 'undisclosed income' during searches
As per the new tax bill, 'undisclosed income' includes 'money, bullion, jewellery, virtual digital asset or other valuable article' or expenditure, income based on any entry or transaction, where such entry wholly or partly represents income which has not been disclosed.
read moreNew Income Tax Bill unlikely to be tabled in Parliament this week! Here’s all you need to know
The new income tax law will replace the existing Income Tax Act of 1961. The tax Bill is being brought to make the tax process simple and clear.
read moreTax Calculator: Annual salary Rs 15 lakh? Opt for Old Tax Regime and save Rs 48,000 more with these deductions!
Old Vs New Tax Regime: For individuals earning Rs 15 lakh annually, opting for the old tax regime can result in tax savings of up to Rs 48,100, provided they maximize deductions like HRA, 80C, 80D, and home loan benefits.
read moreKey changes in budget 2025 apart from tax-free 12 lakh income- Full details here
Among the most significant announcements was the introduction of a New Income Tax Bill, set to be tabled this week
read moreNew Tax Regime vs Old Tax Regime: Which offers better deductions and exemptions?
The revised tax structure also introduces a 25% tax slab for incomes between Rs 20 lakh and Rs 24 lakh.
read moreBudget 2025: A game-changer for middle-class taxpayers
The new structure will significantly enhance the accessibility of the middle class by leaving them with more disposable income.
read moreUnderstanding Tax Provisions on Life Insurance Policy Receipts u/s 10(10D)
Life insurance policies are not just a means of financial security but also offer tax benefits under specific conditions. The Income Tax Act, 1961, under Section 10(10D), provides exemptions on sums received from life insurance policies, including bonuses, subject to fulfilling certain criteria. Let's delve into the key aspects surrounding this provision.
read moreBudget 2025 cuts taxes: Here’s how the new tax rates will affect your in-hand takeaway
The middle class, often seen as the silent engine driving India’s economic growth, is finally at the center of fiscal relief. This budget doesn’t just nod to their contributions; it delivers a tangible, transformative impact on their take-home income.
read moreWhat is Standard deduction and how it helps salaried taxpayers under new tax regime?
The standard deduction on salary streamlines tax filing for salaried individuals by reducing taxable income by a set amount, minimizing the overall tax burden.
read moreBudget 2025: Tax slabs decoded! Nil tax on income upto 12 lakh; How much tax to pay if amount exceeds this threshold
New Tax Regime Slabs 2025 for Salaried Employees: As per the updated structure, individuals earning up to Rs 12 lakh per annum will not have to pay any income tax, offering a substantial benefit compared to previous years
read moreA full GST exemption on life insurance premiums could mean more expensive premiums for policyholders. Here’s why?
Lately, there have been multiple demands to exempt term life insurance premiums from the ambit of GST (Goods and Services Tax). A high GST rate of 18% on life insurance premiums makes the plan too costly for many to afford.
read moreInsurance for all by 2047 A push for awareness, accessibility, & affordability
With positives like growing digitisation, progressive regulatory policies, and a gradual rise in awareness, this is the opportunity to reimagine the insurance landscape
read moreBudget 2025: Introduce separate tax benefit for term insurance, increase health premium deduction limit, say top insurance officials
Insurers also want FM Sitharaman to consider extending the additional Rs 50,000 tax exemption for NPS contributions to pension plans from life insurance companies too
read moreBelated ITR Filing 2024-25: Don’t miss this new deadline! Check penalty, steps to file belated tax return
Initially, the Central Board of Direct Taxes (CBDT) set the original deadline for filing of belated or revised tax returns as December 31, 2024. Later, it extended this deadline to provide additional time for taxpayers.
read moreLIC unclaimed maturity amount at Rs 880.93 crore in FY2024: How to check if there is any unclaimed amount in your LIC policy
The Life Insurance Corporation (LIC) told Parliament on Monday that it has unclaimed maturity amounts of Rs 880.93 crore for the year 2023–2024.
read moreHealth Insurance : For easy claim you need to do this, otherwise things can get difficult
Health insurance is beneficial in difficult scenarios such as medical emergencies. Nonetheless, this is achievable only if the details provided by you and the company in the health insurance policy are clear.
read more'Pre-existing diseases' & health insurance: How it works
In simple terms, a pre-existing disease is any health condition that an individual has experienced before purchasing a health insurance policy.
read moreInsurance in 2024: Higher life insurance surrender values, shorter moratorium period in health insurance and more
The regulatory reform from IRDAI that attracted the maximum attention was the change in computation of surrender values and charges for endowment policyholders, but the regulator modified several other rules that directly affect retail life, health and general insurance policyholders.
read moreWhat is LIC’s ‘Bima Sakhi Yojana’ for women?
The Bima Sakhi Yojana is a transformative initiative launched by the Life Insurance Corporation of India (LIC), designed to empower women, particularly in rural areas, by providing them with employment and financial independence .
read moreInflation Calculator: What will be the value of Rs 1 crore in 20, 30 and 50 years from now?
This article explores how inflation erodes the value of Rs 1 crore over time, calculating its worth in 20, 30, and 50 years based on a 6% inflation rate.
read moreWill Rs 7.5 lakh income be tax-free for senior citizens under Old Tax Regime in upcoming Union Budget? Here’s what finance ministry says
As Budget 2025-26 approaches, senior citizens await potential tax relief. A query was recently raised in the Lok Sabha if the government plans to offer a tax rebate on incomes up to Rs 7.5 lakh and a 5% tax on Rs 7.5-10 lakh.
read moreAadhaar Card Update Deadline: Last date approaching soon! Here’s how to upload documents free-of-cost
Aadhaar card update: After extending the deadline multiple times in the past, the UIDAI has urged residents who got their Aadhaar issued 10 years back to get their documents updated by December 14, 2024.
read moreTerm Vs whole life insurance – Which should you choose? Know the key differences
Term insurance is a straightforward life insurance policy that provides coverage for a specific period, or 'term'; if the insured person passes away during this period, the policy's beneficiaries receive a death benefit.
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