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.
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.
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.
A woman from Faridabad was cheated out of Rs 7 crore, a businessman from Noida lost Rs 9 crore, and a doctor from Punjab’s Bathinda was defrauded of Rs 6 crore. These are just a few of the victims of a massive scam recently uncovered by India's Enforcement Directorate (ED).
New PPF rules effective today streamline account management for minors, multiple account holders, and NRIs, impacting interest rates and regulations.
Policyholders exiting traditional life insurance get more money back starting October 1, 2024. Irdai has asked the insurance companies to offer a higher special surrender value (SSV) for traditional endowment policies from October 1, 2024. The new 'special surrender value' rule mandates higher refunds, offering flexibility to switch plans.
Most victims from Karnataka are educated professionals, particularly techies from Bengaluru, who were duped after being enticed by fraudsters with promises of high returns or IPO allocation. And this has been a trend across the country when it comes to fake broking apps.
5 reasons health insurance claims get rejected
A common mistake is assuming that the value of retirement savings will remain constant over time. For example, a ₹5 crore corpus today will lose significant purchasing power over 25 or 30 years due to inflation.
Gift your sister a term deposit, a SIP in mutual funds, enrol her for a financial planning workshop or book an appointment with a financial adviser to make a personalised investment plan.
A recent report by Apollo Hospitals, one of India's leading healthcare groups, paints a grim picture of the nation's health. Released in April, the report dubbed India the “cancer capital of the world”, highlighting a worrying rise in cancer cases and other non-communicable diseases (NCDs).
Life Insurance Corporation of India (LIC) MD and CEO Siddhartha Mohanty has said that the corporation is looking to make fresh investments of around Rs 1.30 trillion in equities during the current financial year.
The insurance plans were launched on Monday by LIC CEO and MD Siddhartha Mohanty and will be available both available offline and online.
ITR Filing Date 2024 Live Updates: The income tax return deadline might be extended beyond July 31. Fresh updates from Income Tax Department on ITR deadline extension! What we know so far about the current status and when to expect refunds after e-verification and processing of income tax return.
Any individual may submit an updated return, with certain exceptions, irrespective of whether they have previously filed an original, late, or amended return for the applicable assessment year.
As per budget 2024 proposal you will now get a higher amount of payout from your life insurance policy as TDS rate has been reduced to 2%. “It is proposed that TDS under section 194DA of the Act be reduced from 5% to 2%” says explanatory memorandum of budget 2024.
Taxpayers eagerly await budget announcements that will increase their disposable income. Here are a few of the main anticipations that taxpayers have for Budget 2024.
No increase has been announced in the tax rebate under Section 87A of the Income-tax Act in the Budget 2024. Tax rebate under Section 87A makes tax payable zero if an individual's taxable income does not exceed the specified level.
The reduction in customs duties on gold and silver to 6% is expected to stimulate retail demand and help mitigate smuggling issues in the world's second-largest bullion consumer.
The budget 2024 announced the removal of indexation benefit available on sale of property. Due to this many people who sell their property will now not be able to inflate their purchase price and reduce their capital gains.
Union Budget FY25: FM Nirmala Sitharaman presented the 2024-25 budget focusing on job creation and boosting consumption. Key highlights include capex at ₹11.11 lakh crore, tax rationalisation efforts, and schemes for employment, skilling, and women empowerment.
ITR Filing 2024: Penalty amount for filing income tax return after due date will be imposed. Taxpayers need to be alert as the deadline to file ITR is approaching fast.
It is crucial to remember that your financial information holds significant value, encompassing all your investments and earnings for the year. Here are several important considerations to bear in mind before disclosing your ITR details.
The existing standard deduction of Rs 50,000 is considered inadequate to address the rising expenses linked to the increased cost of living and, therefore, it is imperative to raise the limit of this deduction.
The Income Tax Department has issued a strong advisory to taxpayers, advising them against submitting income tax returns with inaccurate claims for exemptions and deductions.
Regularly monitoring your financial records and staying alert for any suspicious activities is crucial for early fraud detection.
In order to file a tax return online, you can access the new income tax portal logging in with PAN-based credentials and following certain steps that simplify tax filing process.
National Insurance Awareness Day 2024: The event is set to be observed on 28 June, this year.
Our health deserves centre stage more than ever. As medical bills skyrocket and unexpected health crises loom, having a health insurance policy acts as a reliable safety net. It ensures you can access necessary care without fretting over finances. Understand six significant perks of having a health insurance policy in 2024.
There are 7 ITR forms the Income Tax Department has notified, and often, taxpayers get confused which ITR form is applicable to them.
Taxpayers required to file their income tax return should take into consideration the following.
Currently, the benefit of section 80C is not available under the default (new) tax regime and it would be expected that this benefit be extended to even the default tax regime.
After the new government formation, the focus is now shifted to the Union Budget 2024-25. Taxpayers are hopeful that the Modi government will give them a tax relief in the upcoming budget. Experts too are of the view that FM Sitharaman would at least make some revision in deduction limits under Section 80C and 80D.
Every taxpayer should make an effort to mitigate their tax liability by claiming all the available deductions and exemptions at the time of furnishing their tax returns. However, such deduction/ exemption amount should be correctly computed after considering the tax regime, residential status etc.
Under Section 30 of the Indian Succession Act, if someone dies intestate, the court may issue a notice to invite claims over the property left behind after the death certificate is issued.
With an eye on expansion, the management outlined plans to penetrate Tier-2, Tier-3, and rural areas, and to fortify its position against private competitors
The government-owned Life Insurance Corporation (LIC) is looking to foray into the health insurance sector, reports said on May 28. The insurer is currently assessing potential acquisition prospects.
LIC Q4: Its gross non-performing asset (GNPA) stood at 2.01 percent against 2.56 percent in the year-ago period The insurer announced an interim dividend of Rs 6 per share.
With a comprehensive financial retirement plan, it is easy to tide over apprehensions of exhausting the corpus that may have been built during the work years.
There are two aspects that cause concern for individuals when it comes to health insurance. The first is the time period for which they will be covered and the other is the cost that they will pay for this coverage. Both are problem points for senior citizens as they often find themselves without a cover when they most need it.
In a landmark move, IRDAI has removed the age limit of 65 years for individuals buying health insurance policies. This marks a departure from the conventional constraints that limited individuals in securing comprehensive coverage. CNBC TV18 spoke to several experts for their take on the policy shift and its implications.
The insurance regulator has made it compulsory for health insurance companies to reduce the maximum waiting period to get complete health insurance coverage in case of pre-existing diseases (PED) from 4 years to 3 years. The regulator modified the definition of pre-existing disease in its IRDAI (Insurance Products) Regulations, 2024, notified on April 1, 2024.
Insurance is one of the most effective ways to manage risks and secure assets; however, the insurance industry has been mainly susceptible to trust issues. Many people believe that insurers do not pay claims, but the data says otherwise; the industry has been paying claims and is bleeding.
According to the report, Cathay Life Insurance is the second strongest brand, with a 9 per cent increase in brand value to $4.9 billion
A quick guide for policyholders From April 1, 2024, the surrender value is expected to remain the same or even lower if policies are surrendered up to a period of within three years, as per IRDAI.
As the current fiscal year is coming to an end, taxpayers are searching for different methods to reduce their taxes.
The Bank of Japan ended eight years of negative interest rates and other remnants of its unorthodox policy on Tuesday, making a historic shift away from a focus of reflating growth with decades of massive monetary stimulus.
The survey, based on responses from over 23,000 respondents, also shows a 43% increase in the number of women purchasing individual coverage
The whole idea why waiting periods exist is that people should not abuse insurance.When there is a pre-existing disease declared in the proposal form, it will have usually a 24- 36 month waiting periodA lot of health insurance policies provide options to the customer to reduce the waiting period for pre existing diseases by paying an extra premium
International Women's Day: Compared to motor insurance, where over 50 percent women said they understood their policy benefits and clauses, only 32 percent were aware of their health insurance coverage details.
By working together, insurers, regulators, and stakeholders can further create a more inclusive and equitable insurance ecosystem that empowers women to protect themselves and their families effectively.
In every growing society, women are back bone of it and we are proud to say that we play a small part in strengthening the back bone by helping women become financially empowered.
It is said that women are the real architects of society. They play different roles like Mother, Wife, Daughter, Sister effortlessly apart from managing their day to day work.
New plan is specifically designed to have an adequate corpus to meet the higher education and other needs of a child, says Life Insurance Corporation of India