Filing your Income Tax Return (ITR) for FY 2024-25? The deadline has been extended to September 15, 2025. Here's how salaried individuals can file ITR without a Chartered Accountant and avoid 5 common mistakes that often trigger income tax notices or delay refunds.
Read MoreWe often think ancient wisdom cannot help in modern times. But what if your weekend splurges, credit card debt, and ignored savings were exactly the problems Chanakya warned against? His 2,000-year-old financial advice might just be the unexpected solution your wallet needs today.
Read MoreWith the ITR filing deadline extended to September 15, 2025, taxpayers have a greater opportunity to earn higher interest on refunds this year. Due to the RBI’s recent rate cuts, the interest on delayed tax refunds is expected to be nearly 33% higher.
Read MoreFollowing the Reserve Bank of India's repo rate cut in June 2025, several major banks, including SBI, Union Bank, and Bank of Baroda, have reduced their lending rates. This move lowers home loan interest rates for borrowers with floating rate loans linked to the repo rate.
Read MoreMany young investors in their 20s and 30s believe that saving Rs 1 crore is a solid retirement goal. But if inflation continues at 6% annually, the real value of Rs 1 crore after 30 years will be just Rs 17.4 lakh.
Read MoreITR filing for AY 2025-26 began late due to tech delays. Learn how to check your ITR and refund status online, and why early filing still matters.
Read MoreRBI MPC meeting: Repo rate cut is expected to lower EMIs for home loan borrowers, providing significant relief, while also likely reducing fixed deposit returns for investors
Read MoreThe RBI on Friday cut repo rate by a higher-than-expected 50 basis points to prop up growth, which has slowed to a four-year low of 6.5 per cent in FY25.
Read MoreIn this article, we will dive deep into both tax regimes - Old Tax Regime and New Tax Regime. The write-up will explain features, benefits, recent changes, and practical implications for taxpayers of the both tax regimes.
Read MoreLIC of India, the leading Public sector Insurer, has been awarded the ISO 22301:2019 Business Continuity Management System (BCMS) certification from the British Standards Institution (BSI) .
Read MoreThis extension will provide more time due to significant revisions in ITR forms, system development needs, and TDS credit reflections, says CBDT
Read MoreLIC's net premium income in Q4FY25 was Rs 1.47 lakh crore as against Rs 1.52 lakh crore a year ago.
Read MoreIn this story, we will discuss about the various tax benefits available for senior citizens those availing retirement benefits like commuted pension, gratuity, leave encashment on retirement and provident fund, etc. First, let's understand who actually are senior citizens as per the Income Tax Department.
Read MoreTypically, the ITR filing process begins on April 1 of the assessment year. Accordingly, for FY 2024–25, filing should have opened on April 1, 2025. However, this year, there has been a delay, and the process is now expected to begin in June 2025.
Read MoreThe top government think tank's CEO further said that the overall geopolitical and economic environment are favourable to the country
Read MoreOn January 20, a total of 4,52,839 agents of LIC successfully completed and issued an astounding 5,88,107 life insurance policies across India, it noted
Read MoreForm 16 or Form 16A is the certificate of deduction of tax at source. It is issued on deduction of tax by the employer on behalf of the employees and provide details of TDS/TCS for various transactions between deductor and deductee. It is mandatory for employers to issue these certificates to taxpayers.
Read MoreAccording to data released by the Life Insurance Council, LIC collected Rs 13,610.63 crore in NBP for the month, up from Rs 12,383.64 crore in April 2024
Read MoreWith ITR forms for FY 2024-25 already available, now is the ideal time to prepare and avoid last-minute mistakes.
Read MoreDifferent tax returns are prescribed for filing by individual taxpayers depending on their income and its source as well as factors such as residential status.
Read MoreTypically, the ITR filing process begins on April 1 of the assessment year. Accordingly, for FY 2024–25, filing should have opened on April 1, 2025. However, this year, there has been a delay, and the process is now expected to begin in June 2025.
Read MoreAs taxpayers get ready to file their returns, it is crucial to understand the key sections of the Income Tax Act, 1961, that can help in accurate tax calculation, availing deductions, and choosing the appropriate tax regime.
Read MoreThe simplified form is designed for individuals and entities who earned up to Rs 50 lakh during the recently concluded financial year.
Read MoreThe Income Tax Department is expected to notify the filing forms for the financial year 2024-25, or Assessment Year 2025-26, soon.
Read MoreFollowing the tragic terror attack in Pahalgam, Jammu and Kashmir, where 26 people lost their lives, LIC has announced relief measures for the affected families.
Read MoreThe staff collected the insurance bond from the family members, corroborated the same with the details in the FIR and other documents filed by the police
Read MoreIt is mandatory to choose between the old and new tax regime while filing the online form --- with specific exemptions and deductions available for individuals.
Read MoreOld tax regime, however, still offers taxpayers a range of options to save taxes through various eligible deductions and exemptions post 2025 Union Budget. On the other hand, the new tax regime has a fewer deductions available for taxpayers compared to the old regime. In this write-up, we will discuss various deductions available under the new tax regime for the purpose of tax saving.
Read MoreTaxpayers will soon be able to file their returns for FY25 via the official Income Tax Department website.
Read MoreAn individual resident who is 60 years or above in age but less than 80 years at any time during the previous year is considered a senior citizen for income tax purposes. The Income Tax department also defines people above the age of 80 as 'super senior citizens'.
Read MoreHealth insurance provides crucial financial protection for you and your family during medical emergencies, helping manage expenses without depleting savings or requiring loans or crowdfunding.
Read MoreYou don't need Rs 10 crore or Rs 50 crore for financial freedom — just calculate your expenses and aim for the right amount using the 4% rule.
Read MoreSection 115BAC of the Income Tax Act lays down the tax slabs and rules applicable under the new tax regime.
Read MoreIt is not necessary to attach any documents while filing your returns. However the details given in various documents will have to be used while filling up the online form.
Read MoreUnder section 269ST of the Income Tax Act, receiving more than Rs 2 lakh in cash is prohibited, whether it is a single transaction or the sum of many transactions on the same occasion.
Read MoreThose filing their returns for the first time must also choose between two tax regimes (with different deduction amounts) and link their PAN and Aadhaar cards in order to enable electronic verification.
Read MoreRead the customer reviews on Google and other social media platforms. Look for an insurer with a high claim settlement ratio, low complaint numbers, and positive online reviews.
Read MoreThe filing of income tax return (ITR) is compulsory for those individuals whose annual income is above the basic exemption limit. According to the Old Tax Regime, the basic exemption limit is still Rs 2.5 lakh for general taxpayers under 60 years of age.
Read MoreNRIs can claim a GST refund on insurance premiums, which makes purchasing Indian policies more affordable
Read MoreThe 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 MoreThe 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 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 MoreTerm 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 MoreWhile 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 MoreUnderstanding the pros and cons of each option ensures you make a strategic decision that aligns with your financial future.
Read MoreTo 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 MoreHere are the top five reasons why women need term life insurance in 2025.
Read MoreThe Income Tax Department has recently released a new brochure highlighting how clubbing of income provisions is applicable for individual taxpayers.
Read MoreStarting 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 MoreIf you are availing exemptions or deductions under the old tax regime, the new tax regime may lead to a higher tax outgo.
Read MoreWe take a look at some common insurance mistakes which you must avoid to ensure your insurance truly safeguards your financial well-being.
Read MoreGST 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 MoreThe 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 MoreRoom 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 MoreDesigned 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 MoreLIC 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 MoreThe concept of Previous Year and Assessment Year, thus, were creating confusion in the minds of taxpayers as they represented two different years.
Read MoreThe essence of the Bill remains the same and the existing tax base, tax rates, computation mechanism etc. have been largely unchanged.
Read MoreThe Income Tax Bill 2025 has several aspects to be considered by the Non-Resident Indians as Clauses replace Sections.
Read MoreAs 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 MoreThe Income Tax Bill, 2025 defines 'online game' as any game offered on the internet and accessible through a computer or telecom device.
Read MoreThe 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 MoreThe revised tax structure also introduces a 25% tax slab for incomes between Rs 20 lakh and Rs 24 lakh.
Read MoreAmong the most significant announcements was the introduction of a New Income Tax Bill, set to be tabled this week
Read MoreOld 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 MoreThe new structure will significantly enhance the accessibility of the middle class by leaving them with more disposable income.
Read MoreLife 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 MoreNew 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 MoreThe standard deduction on salary streamlines tax filing for salaried individuals by reducing taxable income by a set amount, minimizing the overall tax burden.
Read MoreThe 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 MoreLately, 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 MoreWith positives like growing digitisation, progressive regulatory policies, and a gradual rise in awareness, this is the opportunity to reimagine the insurance landscape
Read MoreInsurers 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 MoreInitially, 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 MoreThe 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 MoreThe 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 MoreIn simple terms, a pre-existing disease is any health condition that an individual has experienced before purchasing a health insurance policy.
Read MoreHealth 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 MoreThe 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 MoreThis 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 MoreAadhaar 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 MoreAs 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 MoreTerm 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.
Read MoreA 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).
Read MoreNew PPF rules effective today streamline account management for minors, multiple account holders, and NRIs, impacting interest rates and regulations.
Read MorePolicyholders 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.
Read MoreMost 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.
Read More5 reasons health insurance claims get rejected
Read MoreA 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.
Read MoreGift 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.
Read MoreA 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).
Read MoreLife 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.
Read MoreThe insurance plans were launched on Monday by LIC CEO and MD Siddhartha Mohanty and will be available both available offline and online.
Read MoreAny 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.
Read MoreITR 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.
Read MoreAs 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.
Read MoreTaxpayers eagerly await budget announcements that will increase their disposable income. Here are a few of the main anticipations that taxpayers have for Budget 2024.
Read MoreUnion 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.
Read MoreThe 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.
Read MoreThe 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.
Read MoreNo 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.
Read MoreITR 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.
Read MoreIt 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.
Read MoreThe 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.
Read MoreThe Income Tax Department has issued a strong advisory to taxpayers, advising them against submitting income tax returns with inaccurate claims for exemptions and deductions.
Read MoreRegularly monitoring your financial records and staying alert for any suspicious activities is crucial for early fraud detection.
Read MoreIn 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.
Read MoreNational Insurance Awareness Day 2024: The event is set to be observed on 28 June, this year.
Read MoreOur 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.
Read MoreThere are 7 ITR forms the Income Tax Department has notified, and often, taxpayers get confused which ITR form is applicable to them.
Read MoreWe often think ancient wisdom cannot help in modern times. But what if your weekend splurges, credit card debt, and ignored savings were exactly the problems Chanakya warned against? His 2,000-year-old financial advice might just be the unexpected solution your wallet needs today.
Read MoreTaxpayers required to file their income tax return should take into consideration the following.
Read MoreCurrently, 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.
Read MoreAfter 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.
Read MoreEvery 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.
Read MoreUnder 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.
Read MoreLIC 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.
Read MoreThe 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.
Read MoreWith 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
Read MoreWith 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.
Read MoreThere 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.
Read MoreIn 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.
Read MoreThe 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.
Read MoreInsurance 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.
Read MoreA 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.
Read MoreAccording to the report, Cathay Life Insurance is the second strongest brand, with a 9 per cent increase in brand value to $4.9 billion
Read MoreAs the current fiscal year is coming to an end, taxpayers are searching for different methods to reduce their taxes.
Read MoreThe 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.
Read MoreThe survey, based on responses from over 23,000 respondents, also shows a 43% increase in the number of women purchasing individual coverage
Read MoreThe 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
Read MoreInternational 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.
Read MoreBy 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.
Read MoreIt 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.
Read MoreIn 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.
Read MoreNew 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
Read MoreThe product is targeted at parents who wish to create a long-term corpus to meet the higher education needs of their children.
Read MoreLIC surged five per cent in open trade, continuing its stellar performance from Thursday when it hit an all-time high.
Read MoreLife Insurance Corporation of India (LIC) launched a new unit-linked life insurance policy called LIC’s Index Plus this week. It is a non-participating, regular premium, individual life insurance plan which offers life insurance cover cum savings throughout the term of the policy.
Read MoreThe insurer’s net premium income grew 4.67 percent to Rs 1.17 lakh crore in the quarter under review, from Rs 1.11 lakh crore in the year-ago period
Read MoreLife Insurance Corporation of India (LIC) has launched the unit-linked, regular premium, individual life insurance plan Index Plus, which offers life insurance cover-cum-savings throughout the policy term
Read MoreLife insurance is an important component of financial planning in India, offering protection and security for loved ones. When selecting a provider, individuals should prioritize those with high claim settlement ratios and swift turnaround times.
Read MoreUnder the 'Cashless Everywhere' system, policyholders will have the liberty to select any hospital for their treatment, breaking away from the limitations imposed by agreements or tie-ups between insurance companies and healthcare providers.
Read MoreOne major expectation is higher government investment in the insurance sector. Higher budgetary allocation, they believe, will provide the sector with the requisite impetus
Read MoreWellness benefits are integrated into health insurance plans to engage individuals in activities that promote physical and mental well-being.Wellness points, earned through proactive health measures, can be utilised in various ways.For monitoring individuals' health, various wearables, apps, software and tools are available.
Read MoreInsurance can be a strategic tool for tax optimization, offering financial safety net and potential tax-saving benefits.
Read MoreHealth costs are rising fast and it has becoming increasingly difficult to cover medical expenses from your own pocket. In such a situation, a family health cover is important to meet medical expenses of your family members.
Read MoreIRDAI has urged insurers to introduce tailored policies aimed at specific demographics, such as senior citizens and millennials, acknowledging the diverse needs within these segments.
Read MoreLife Insurance Corporation of India (LIC) has introduced several new plans in 2023 by unveiling a range of compelling insurance products. LIC introduced a product posed to gain substantial traction in the market.
Read MoreHaving insurance coverage is crucial for managing a health emergency, but it’s equally important to maintain financial stability when faced with a health crisis. Often there are many confusions and doubts when you purchase a term insurance plan, but these can be addressed if you carefully assess your requirements
Read MoreBy following these guidelines, policyholders can significantly reduce the chances of claim rejection and ensure a smoother experience with their health insurance coverage
Read MoreThe Indian life insurer stood fourth on the list by S&P Global based on reserves. LIC has reserves of over $500 billion, as per the report. Sector watchers say that Asia is the next major market for growth for life insurance companies.
Read MoreLife Insurance Corporation of India (LIC) has introduced a novel plan encompassing individual savings and whole life insurance. The plan is called LIC’s Jeevan Utsav with effect from November 29, 2023. This plan is non-linked and non-participating, offering extensive life insurance coverage throughout one’s lifetime.
Read MoreLIC Jeevan Utsav insurance plan will provide assured returns and after maturity, the policyholder will get 10 percent of the sum assured life long.
Read MoreHaving health insurance is crucial for ensuring financial protection in case of medical emergencies. However, it is disheartening to know that a majority of claims get rejected by insurance companies.
Read MoreConsider this scenario: Did you buy a health insurance cover of Rs. 3 – 5 lakhs for your family a few years back? At that time, the cover amount would have been adequate, but not today. Consider another scenario: Your employer provides you a health insurance cover of Rs. 3 – 5 lakhs for your family, or you are covered for a similar amount under a State Government health insurance scheme.
Read MoreEven treatments that require less than 24-hour can qualify as day-care treatments and are thus eligible for health insurance coverage. Read to know what's included and what's not.
Read MoreToday (30th October) is World Savings Day, A Special Day which re-emphasizes the importance of savings in our day to day life. Right from our childhood, We have been taught that "A Penny Saved is A Penny Earned'. The Phrase highlights the importance of savings which is an proven way for Financial Success.
Read MoreTo chart out a personal finance strategy without factoring in unexpected medical expenses is practically impossible in today’s world. It wasn’t too long ago when the world experienced an unparalleled health crisis in the form of a deadly pandemic, the after-effects of which can still be felt with long-term health issues. On top of that, the cost of healthcare is rising across the world.
Read MoreWhile financial planners plan for retirement, education, marriage, home purchase, travel, etc., they generally miss out on one of the most important life goals – the physical survival goal. Here is how it can be remedied.
Read MoreBuying health insurance can be a complex process, but it’s important to get it right. By avoiding the common mistakes, you can choose the best health insurance policy for your needs and budget.
Read MoreHere are some key points to consider before purchasing health insurance policies for senior citizens
Read MoreThe 18 percent refund should sweeten the deal for expat Indians seeking to secure their families back home.
Read MoreHealth insurance is one of the most critical investments you can make keeping in mind the rising medical costs in the country. Getting a health insurance policy at an early age helps in better financial planning. This is because health insurance helps in saving taxes and provides financial assistance for medical expenses.
Read MoreRising healthcare costs and inflation are making it increasingly important for senior citizens o have health insurance. As we age, our bodies become more vulnerable to diseases and lifestyle disorders, which can lead to unexpected medical expenses.
Read MoreTo qualify for GST refunds on health insurance, the proposer must be a Non-Resident Indian.
Read MoreThere are a number of reasons why a health insurance claim gets rejected. Policyholders can take a few measures to get the claim approved.
Read MoreA loan against insurance policy can be helpful during emergencies as it offers considerably higher loan value at comparatively lower interest rates. Many LIC policies come with a loan facility and the loan amount is based on the surrender value of the policy.
Read MoreUnderstanding the reimbursement process and adhering to the necessary steps and documentation requirements is essential for a smooth and successful reimbursement claim experience.
Read MoreScary as it may sound, with climate change now a reality, all our cities are likely to experience devastating floods. We have seen it in Mumbai, in Chennai, in Bangalore, and very recently in Himachal and Uttarakhand. Let us take the case of Mumbai.
Read MoreWe observe “Life Insurance Awareness Month” in September every year, thus, reminding people of the need to focus on buying a life insurance plan.
Read MoreChoosing between a term plan and a money back policy can be difficult as they both offer appealing benefits. However, the decision should be based on the specific needs of the insurance buyer.
Read More[Partnered] The right health insurance plan should be chosen after giving considerable thought to your needs, finances, and accessible possibilities. It's an investment in your health and financial stability that gives you peace of mind by ensuring that you and your loved ones are covered in the event of an emergency medical situation.
Read MoreIt's bad enough that you have been incapacitated with some disease or loss that has caused you to lose time and money; what is probably as bad is the paperwork that is inevitable, the processes that must be followed to get your insurance claim processed.
Read MoreHealth insurance plans help subscribers to meet unexpected medical expenses. Different health insurance plans cover costs of treatment and surgeries for a wide range of medical conditions.
Read MoreMany people opt for health insurance in their 30s but they often fail to calculate the ideal sum assured or the amount that will be paid by the insurer in case of any unfortunate event.
Read MoreThe Finance Act, 2023, amended section 10(10D) of the Income Tax (I-T) Act to remove the exemption available to sum received from a life insurance policy in case the aggregate premium for all policies issued on or after the 1 April exceeds ₹5 lakh.
Read MoreThe Central Board of Direct Taxes (CBDT) issued new guidelines on how tax-exempted maturity amount from a life insurance policy will be calculated in a financial year if the premium paid exceeds a specified level. As per the new guidelines, the maturity amount from life insurance policies bought on or after April 1, 2023, will not be fully tax-exempt.
Read MoreWhile thorough research helps to find the best health policy in the market, there are a few factors that could cause problem for the policyholders. In India, health insurance policy holders face several issues from rejection of claim to insufficient coverage.
Read MoreCheck for exclusions, deductibles & limitations in the insurance policies
Read MoreA hospital cash insurance policy is a specialized health insurance plan designed to provide policyholders with a fixed cash benefit for each day they are admitted to a hospital due to illness or injury.
Read MoreChoosing the right Health Insurance plan and adequate coverage is crucial
Read MoreBuy these add-ons early in life to get higher and wider coverage
Read MoreRicha, a 35-year-old professional, purchased health insurance with a low premium, intentionally failing to disclose her smoking habits and pre-existing heart condition to keep costs down. However, when she required urgent heart surgery a few months later, her insurance claim for the expenses was denied after the company discovered her undisclosed medical conditions during their investigation.
Read MoreUpgrade your policies as you move from one life stage to another.
Read MoreLIC Jeevan Kiran (Plan 870): The Life Insurance Corporation of India (LIC) has launched a new plan named Jeevan Kiran.
Read MoreInflation is an inevitable aspect of any economy, and its effects can ripple through various financial instruments, including life insurance policies.
Read MoreHealth Insurance: Healthcare costs are skyrocketing significantly. And, this is when health insurance comes in handy. The financial security of an individual is protected by having health insurance. With the ever-rising instances of diseases, health insurance today is a necessity.
Read MoreLet’s understand differences between Term Insurance and Life Insurance, enabling you to make the right decision when choosing the coverage for your specific needs.
Read MoreAs the rainy season approaches, it brings with it an array of diseases and health risks that can affect individuals of all ages. From common ailments like stomach infections and coughs to more serious conditions such as viral fever, cholera, and malaria, the rainy season leaves us vulnerable to various illnesses if left untreated.
Read MoreInsurance is an important part of personal finance, especially after the COVID-19 pandemic, when people are choosing life insurance and health insurance to avoid any risk. Insurance can be defined as a contract between an insurance policyholder and an insurance company that secures the finances of beneficiaries and their family members in emergencies.
Read MoreOver 160 dengue cases have been reported in the national capital till mid-July this year, the highest for this period since 2018, according to a municipal report released on Monday, July 17. The report, issued by the Municipal Corporation of Delhi (MCD), also said 54 cases of malaria have been recorded in the same period.
Read MoreFor individuals living paycheck to paycheck or facing tight budgets, health insurance premiums may be seen as an additional financial burden.
Read MorePersonal recommendation from friends and family or a known agent is the top trigger for insurance consideration for approx. 80% of the respondents.
Read MoreThe pandemic has undeniably imparted valuable lessons, foremost among them being that "health" is our most precious asset.
Read MoreLife insurance helps to safeguard individuals and their family against financial risks because of untimely death. Life insurance policies can also be pledged to avail loans during any financial emergency.
Read MoreLIC Dhan Vridhhi (Plan 869): The Life Insurance Corporation (LIC) of India has launched a new close-ended plan – LIC’s Dhan Vridhhi plan. Check key details
Read MoreIndividuals with a family history of diseases such as cancer or coronary artery bypass should opt for adequate critical illness cover. While a comprehensive health insurance policy provides coverage for expenses like hospitalisation, a critical illness policy will provide a lump sum benefit upon diagnosis of a covered critical illness, regardless of medical expenses.
Read MoreIt is wise to purchase a personal health insurance policy even if you have one through your employer
Read MoreSection 80D offers tax breaks on health insurance premium paid for self, spouse, children and parents. You can avail of tax breaks at the time of filing returns, even if you have missed out on claiming these while submitting tax-saver investment proofs to your employer
Read MoreAs the medical needs of senior citizens may differ from people of other age groups, it is crucial for them to check the coverage, what is covered and not covered, available optional features and add-ons,
Read MoreLIC earned net commission of Rs 8,428.5 crore for the last quarter of FY23, growing 5.4 percent over the year-ago period, and showing a massive 33.4 percent increase compared to previous quarter.
Read MoreLIC's Jeevan Azad is a non-linked, non-participating, individual, savings life insurance plan. This is a Limited Premium Endowment plan under which the Premium Payment Term (PPT) is equal to Policy Term minus 8 years.
Read MoreInsurance plans are beneficial to anyone looking to protect their family, assets/property and themselves from financial risk and losses. Rising inflation, increasing medical costs, increase in lifestyle diseases, uncertainty in climatic conditions are good enough reasons for people to protect themselves with a strong financial cushion.
Read MoreKnow about Health Insurance Policy, its types, benefits and factors to consider while buying the Best Health Insurance Policy
Read MoreThe Reserve Bank of India (RBI) on Friday decided to withdraw Rs 2,000 denomination banknotes from circulation. The central bank said that all Rs 2,000 currency notes must be exchanged before September 30, 2023.
Read MoreThe Indian health insurance industry has seen massive transformation in the last few years. Post the COVID-19 crises, policyholders have turned their attention to the importance of having an appropriate health insurance policy.
Read MoreThe Covid-19 pandemic was a wake-up call for both health insurance companies and policyholders. While it exposed the vulnerabilities in the healthcare system, it also offered the regulator an opportunity to eliminate many lacunas and add new features that can offer enhanced and adequate protection to health insurance policy buyers.
Read MoreHealth insurance has become a high priority financial risk mitigation measure for individuals as well as families. Hospitalizations of family members during Covid-19 showed how grossly unprepared many were financially to meet hospitalization expenses.
Read MoreHow do you plan to wish your mother this Mother’s Day? Mother’s Day would be observed on May 14 this year. Apart from the gifts and flower bouquets that you might consider gifting, why not buy her insurance to secure her health and future in the long run? It’s not surprising to consider gifting insurance to your mother.
Read MoreIf policyholders have higher income and can afford higher medical expenses, they can go for a higher deductible amount to lower the total premium payout.
Read MoreFacing a term insurance claim rejection can be distressing, particularly when the policyholder is the primary financial provider for the family. Although the policyholder might not be present to address a denied claim, it’s vital to understand and avoid common pitfalls that can lead to term insurance claim rejections.
Read MoreThe purpose of the health insurance is to cover the hospital bills and related expenses. Today, we will give you top reasons why you should buy health insurance today and should not depend only on health cover provided by the employer.
Read MoreConsidering the uncertain times we live in, health insurance comes in handy — irrespective of your age. Often, people make the mistake of underestimating the importance of getting insured in their early years, thinking that it brings value only in the later stages of life. However, no matter what the age group, unforeseen circumstances may strike at any point.
Read MoreProtecting future income is very critical at every age of an individual. Further, the protection needed also needs to be assessed periodically
Read MoreWorld Health Day 2023: Innovations in health insurance have led to the inclusion of day-care and OPD expenses, and even the cost of preventive health checkups, in certain policies for a reasonably priced premium.
Read MoreMedical emergencies can happen at any point in one’s life. Rather than spending time arranging finances for bills at the last moment, it is always safe to have a backup ready. And, for that, we have health insurance. These insurance policies provide coverage for the cost of medical expenses incurred by an individual or a group.
Read MoreYou should promptly respond to the income tax notice and provide all the necessary documents. Filing income tax returns (ITR) within the due date is mandatory to avoid any penal action by the income tax department. If your total earnings in a financial year fall under taxable income, then it is necessary to file ITR.
Read MoreIndia has a great demographic advantage - we are a nation of youngsters, with about 65% of Indians below the age of 35 years. Our bright youngsters are making great strides in all areas and are contributing to the growth story of the country.
Read MoreNew income tax rule 2023: After ushering in new financial year from 1st April 2023, a good number of income tax rules are going to change. These income tax rules have been changed on the basis of Union Budget 2023 proposals that have been passed by the parliament in recently through Finance Bill 20223.
Read MoreDon’t just go for the policy with the lowest premium. Conditions could apply, and you could end up spending a lot more than you saved on the premium.
Read MoreInsurance is now being offered for what is called the ABCD illnesses. Depending on the stage or depending on how serious the disease is, they are offering day one cover, which basically means that right after you buy the policy,
Read Moreax incentives have always acted as a catalyst in ensuring wider insurance adoption. Though well-balanced and growth-oriented, the most awaited financial event of the year - Union Budget - turned out to be a wistful affair for those expecting a tax rebate over and above the standard limit on insurance policies.
Read MoreThe focus on health insurance lately has taken a different trajectory especially post-COVID where most of us have at least understood that we should have some coverage available at all times.
Read MoreITR filing: Last date for submission of income tax return for FY 2019-20 is 31st March 2023.
Read MoreMost individuals are cognizant of the need to factor in inflation and rising medical expenses while planning for their life’s new chapter.
Read MoreInsurance and investment are both important aspects of financial planning and should be considered together to create a well-rounded financial plan.
Read MoreUnlike term plans that provide life risk cover or unit-linked schemes, where returns are market-linked, endowment plans offer maturity benefits upon survival & minimum guaranteed return.
Read MoreIt’s that time of the year again when tax planning is on everyone’s priority list. While one looks at growing their wealth, it’s also important to secure your health as a medical emergency can shake up the foundation of your financial planning.
Read MoreFamily Floater Health Insurance plans work on the same principle as that of individual Health Insurance plans but extend their coverage to all family members.
Read MoreThe policyholder can claim tax benefit of up to `25,000 under Section 80D for self, spouse and children year on year for the entire tenure of the policy.
Read MoreLife insurance helps safeguard one’s family and oneself against two types of financial risks – untimely death and old age.
Read More"One has to be aware of the list of blacklisted hospitals. Second is the waiting period for specific illnesses. Third is the minimum time of hospitalization which is required for claiming a particular illness in your policy," says Ankit Agrawal, Founder & CEO, Insurance Dekho.
Read MoreA person who has cancer and doesn't have any health insurance will find it difficult to buy a regular hospitalisation cover. An indemnity-based cancer plan may cover them.
Read MoreInsurance products currently available in the market can be broadly categorized into two types—a pure vanilla term insurance plan and others. All ‘other’ insurance products would either be market-linked or provide guaranteed returns which are generally equivalent to the level of fixed-deposit rate of returns
Read MoreLife Insurance Corporation of India (LIC) has launched a campaign to revive old insurance policies that were closed before maturity. Under this, LIC policyholders who shut their policies for any reason can start them again. The campaign will run till March 24, 2023. The insurance behemoth is also offering concessions in late fees during this tenure.
Read MoreLIC Q3 result: The life insurance behemoth’s net premium income grew by 14.5 percent to Rs 1.11 lakh crore for the December quarter from Rs 97,620 crore a year ago
Read MoreA survey by ICICI Lombard showed that about 48 percent of policyholders were unaware of the features of their own health insurance policies, like out-patient cover, pre-post hospitalisation and so on.
Read MoreNew Income Tax Slabs and Major Highlights of Budget 2023
Read MoreThe Budget is a financial blueprint that lays out the government's plans for revenue and spending for the upcoming year. This year's pre-Budget discussions have been particularly important as the world is still reeling from the economic impact of the COVID-19 pandemic. The government is expected to take into consideration the present global economic landscape while formulating the Budget.
Read MoreAutomatic restoration, Cumulative bonuses, Annual health check-ups, Wellness discounts, Renewal discounts, Second medical opinions etc., are some more benefits offered by many Health Insurance Industries.
Read MoreThis blog post explores 10 potential problems you could face without health insurance. Continue reading to learn how to protect yourself and your family from the risks of being uninsured.
Read MoreNew Delhi (India), January 23: A term plan is a type of life insurance policy designed to provide financial benefits to a chosen beneficiary upon the death of the insured. It offers coverage for a specific period, most often 10, 15, 20 or 30 years and typically has no cash-value component.
Read MoreAcquaintances often request me to suggest life insurance products that can fetch high returns. Occasionally, they are subjected to product presentations by insurance advisors, showing returns that make them thrilled but also make them circumspect on whether the insurance products can really earn such high returns.
Read MoreThe Life Insurance Corporation (LIC) of India has launched Jeevan Azad (Plan No. 868), which is a new plan aimed at individual savings and life insurance. As per LIC, the plan offers an attractive combination of protection and savings.
Read MoreBefore the 1st of January 2023, it was not mandatory to get your KYC done for buying insurance policies.
Read MoreIndia has a major share of the millennial demographic — 34% of the total population — to be precise. While this might be a significant percentage, before the pandemic struck, this consumer segment seldom considered having an adequate insurance policy.
Read MoreUnion Finance Minister Nirmala Sitharaman will present her fifth budget on February 1. The Union of India contains the government’s revenue and expenditure for a given fiscal year and is a massive and complex document. Here’s your guide to understanding various financial jargon that you may come across in Finance Minister Nirmala Sitharaman’s Budget speech.
Read MoreHealthcare costs in our country have been rising at a faster pace. According to the latest reports from various health organisations, healthcare inflation in India is 14% per annum. While creating a financial plan for the family, insurance plays an important role in managing the risks. We have already discussed term insurance as a measure to mitigate the risk of death.
Read More“If you are somebody who already has health insurance and are looking to bump up your cover at a very low cost, top up is a great option to go for. The detectable amount of that top up has to be equivalent to the sum insured that you already have,” says Siddharth Singhal, Business Head, Policybazaar.com
Read MoreBuying a term life insurance policy is the decision of a lifetime. So, it’s important that the amount arrived at is correct. Human life value (HLV) is one of the methods of computing the right cover amount.
Read MoreAt 96%, LIC had the highest settlement ratio for death claims under individual death policies by value in FY22, data released by insurance regulator Irdai showed.
Read MoreGroup medical cover (GMC) covers the employee and their dependents such as the spouse and children and in certain cases, parents are also covered.
Read MoreAs young people are more healthy compared to the older people and have lower risks of getting ill, their participation helps in reducing the health insurance premium and make it more affordable for everyone.
Read MoreIrrespective of the insurer you buy a policy from, all health insurance plans have notable exclusions which you as a policyholder or buyer should be aware of. A careful scrutiny of such exclusions will save you from a nasty surprise later on.
Read MoreSenior citizens have limited options while buying health insurance, and that is why they must exercise utmost care before choosing one.
Read MoreBuying health insurance when you are comparatively younger and healthier will supplement your employer-provided cover for any higher hospitalisation bills and there will be no hassles in terms of renewability. If you want to buy insurance at an advanced age and have some new health issues, insurers may not even be willing to cover you.
Read MoreAs per Section 10(10D) of the Income Tax Act, 1961, death benefits are always tax-free. Maturity benefits, however, are taxed based on the premiums.
Read MoreThe policyholders can very conveniently get the services like Premium statement, ULIP plan statement
Read MoreThere are two primary kinds of No-Claim Bonuses that you can take advantage of in a health insurance policy.
Read MoreLife insurance is the fastest and easiest way to ensure that your family remains financially protected. It can clear debts, pay for a child’s education, bear medical expenses, and secure the business and assets of a family.
Read MoreYour health insurance premium increases, especially if the sum covered is large and you have certain medical conditions.
Read MoreIt is better to revive a lapsed policy rather than buying a new one
Read MoreBefore opting for a health policy, individuals should go through the entire specifications of the product, including the coverage, exclusions, waiting periods, and sub-limits, if any, along with the premiums, and opt for a product only after evaluating their requirements.
Read MoreHealth Insurance, often known as medical insurance, covers medical expenses that arise due to an illness, injury and/or accident.
Read MoreGiven the high inflation, especially in healthcare, many people who have a basic health insurance cover often consider buying a top-up plan. This is intended to ensure adequate financial protection even when medical expenses rise. However, will it work according to your plan? Not necessarily.
Read MoreNotwithstanding the level of success you achieve, its longevity cannot be guaranteed. Among other things, permanent disability or death — the God may forbid — can throw all your plans and financial security of your family out of gear.
Read MoreLife is a long journey that includes a variety of financial goals and entails many unforeseen circumstances. You will always strive to ensure a brighter and safer future for your loved ones, and having a sound financial plan in place can go a long way towards making it a reality.
Read MoreMotherhood is one of the most loving experiences in everyone’s life. Planning for a child is one of the critical decisions for couples though it brings joy in every couple's life. The joy of bringing a newborn into the world comes with so many medical costs whether it is a normal delivery or C-section.
Read MoreIn these times, health insurance has become a neccesity as it guarantees that a long-term medication does not put your family in financial jeopardy. You can obtain coverage under a comprehensive health insurance plan by paying a nominal fee to the insurer. This helps safeguard your savings from the unexpected shocks of medical procedures.
Read MoreOptimise your policy with cashless OPD & restoration benefits.
Read MoreAre you among those who has all their life perceived sewing to be for older people? Or restricted to just women? Well, now’s a good time as any to send those thoughts through the shredder as we elaborate on how sewing as an activity is hugely beneficial for young people and especially kids.
Read MoreThe Income Tax rules have several provisions through which employees can reduce their overall tax outgo.
Read MoreHaving a comprehensive health insurance becomes absolutely necessary in old age to cover the increase in expenditure on medical treatment and to cope with the high rate of inflation in the healthcare sector.
Read MoreTerm insurance is a pure protection policy that provides coverage against death. Many insurance buyers in India prefer buying term insurance over other life insurance policies mainly because it offers high coverage at a nominal cost; the premium for term insurance plans is the lowest amongst all life insurance plans in the market.
Read MorePhysical illnesses may have tangible and evident symptoms, but most mental concerns go unnoticed or ignored.
Read MoreThis Diwali, rather than getting into a spendthrift mode, invest in your future and make a long lasting choice of being invested in a Guaranteed Life Insurance Plan.
Read MoreThis Diwali, light the lamp of financial freedom Diwali, one of the most awaited festival of the year is here. It is a celebration of good over evil and light over darkness. It is also a time for shopping, delicious sweets and quality time with family and loved ones.
Read MoreLIC Dhan Varsha (Plan No. 866) Scheme Details – Features, Benefits, Maturity, Minimum and Maximum Premium – Life Insurance Corporation recently launched the Dhan Varsha scheme.
Read MoreA Complete Health Insurance Portfolio Review is the need of the hour amidst the uncertainties we continuously experience.
Read MoreWhile there is a relatively better understanding now regarding term insurance policies, the wealth accumulation products can be a bit confusing for the new customers.
Read MoreWhile the policyholder completes his part of the commitment by paying due premiums; fulfilment of the promise from the insurer’s side is completed by payment of the rightful claims.
Read MoreA term life policy is as valuable for singles as for those married and with children. It will cover your liabilities, and ensure your dependents have financial protection in your absence.
Read MoreLife Insurance Underwriting is the process by which life insurance companies determine a customer’s eligibility for a particular policy.
Read MoreSettling claims has never been an easy process, for insurers or for consumers. However, the process can be made simpler if consumers go in for digitally enabled insurance advisors who will help consumers choose the best policy as per their needs
Read MoreThe best option is always to ensure that your policy remains active and the premiums are paid on time. If, for some reason, your policy lapses, get yourself covered again as soon as possible.
Read MoreThe MWP Act is a provision that protects the insurance money from creditors, banks and government agencies.
Read MoreThere are several grounds on the basis of which your health insurance claim can lead you straight to rejection or partial settlement.
Read MoreIn view of the rising incidence of health issues, increased cost of hospitalisation, employees should have a second line of coverage.
Read MoreIf you hold a car cover with Zero-Dep benefit, then at the time of a claim, the full IDV can be claimed without deduction for depreciation and damaged parts.
Read MoreThe most important document that is referred to at the time of the making a claim is the proposal form that is filled out when applying for the insurance policy
Read MoreTaking an adequate insurance cover before you start your investment journey is like laying a proper foundation before constructing a building.
Read MoreFactors like age, financial assets, liabilities, annual income, lifestyle and expenses of the dependents are some of the factors which make one decide the required life cover.
Read MoreThe nomination process is crucial to protect the interests of the insured’s family. However, just appointing one nominee shouldn’t be done by default as many do.
Read MoreIf you don’t want the hassle of renewing your policy each year and can afford the higher one-time premium outgo, opting for a multi-year health insurance plan could work to your advantage.
Read MoreThe scale of this massive outstanding amount is much higher than the budgets of many central government ministries Unclaimed amounts include settled claims which haven’t been paid out, sums which become due when policies mature as well as excess amounts paid which are to be refunded
Read MoreTaking treatment at non-cashless network hospitals, ‘unnecessary’ hospitalisation and ‘unreasonable’ charges are some of the lesser-known causes due to which your health insurance claims could get rejected
Read MoreHealth insurers can incentivise policyholders who meet wellness criteria by offering reward points or lowering health insurance premiums at the time of renewal. This feature is a win-win for both parties.
Read MoreAt 89%, the survey revealed the highest number of respondents willing to renew their health cover belong to tier-2 cities, compared to 77% from tier-1.
Read MoreUsing wrong fuel in a vehicle can cause some serious damage to its engine. However, motor insurance policies do not provide any protection against such act of negligence.
Read MoreReview your home insurance requirement every year so that your home does not remain underinsured following an enhancement in the value of your home
Read MoreCompensation towards Covid death claims were reported under individual, group policies and the PM Jeevan Jyoti Bima Yojana (PMJJBY). Back-of-the-envelope calculations indicate that the average claim per person was Rs 7,63,965.
Read MoreA sound financial plan for mothers has to take cognizance of their evolving needs as they go through different stages of motherhood, right from pregnancy to their old age.
Read MoreThis Mother’s Day, you should consider purchasing an adequate and comprehensive health insurance cover for yourself and your family.
Read MorePersonal health insurance serves as a financial umbrella for the insured person, and in this case, it's your mother.
Read MoreWhile it’s great to have corporate insurance as an additional layer of protection, the key ingredient to shield you from rising medical inflation is, in fact, an individual health policy.
Read MoreAs healthcare continues to become expensive, it has become important for everyone to get adequately covered through health insurance. Experts suggest that one should be careful while selecting the right amount of health cover.
Read MoreThis unique safety is also needed by the people who want to save with high guarantee of reasonable returns on the amount saved every year.
Read MoreThe main difference is that home loan insurance covers property, while a term policy covers a person’s life
Read MoreLIC reserves up to 10% of offer size for policyholders
Read MoreIt is advisable to purchase a good health insurance policy at the right time to protect ourselves from getting into financial difficulties because of health emergencies.
Read MoreAccording to some surveys, the awareness about the necessity of having insurance cover has been increased only after the damages done by the COVID-19 pandemic.
Read MoreMedical insurance policies don’t cover all expenses incurred on hospital treatment. Becoming aware of the exceptions will help in the selection of a medical policy and reduce one’s out-of-pocket expenses.
Read MoreA recent survey conducted by the Life Insurance Council showed that 91 percent of those surveyed are aware of what an insurance policy is, but only 60 percent own a policy.
Read MoreWill seek feedback from policyholders on complaint resolution, lay emphasis on data analytics to ensure quick corrective action, says IRDAI chief Debashish Panda
Read MoreHealth insurers also offer top-up policies to meet the actual expenses over and above the limit available in the basic health policy.
Read MoreThe absence of a valid motor insurance policy will expose you to the risk of huge financial and personal loss, in the event of an accident. The absence of a policy can also land you in legal trouble.
Read MoreCar and Bike Motor Insurance for Fire: Here are the key points you should know Individuals planning to buy a motor insurance for their cars of bikes need to be aware of certain facts when it comes to fire. Representative image
Read MoreThese policies were introduced by Insurance Regulatory and Development Authority of India (Irdai) in June 2020 in the midst of the Covid-19 pandemic for financial protection in case of a medical emergency due to Covid.
Read MoreThird-party motor insurance cover protects you from the legal liability, financial liability, accidental liability, or property damage that may arise.
Read MoreUnder monthly mode of payment the insurers offer a grace period of 15 days from the due date within which the premium installment must be paid.
Read MoreGeneral insurers already seeing surge in travel insurance demands, expect ‘significant increase’ in insurance cover demands in next couple of months
Read MoreGiven the nature of term insurance, you will be out of the picture at the time of claim settlement. So make it hassle-free for your nominee If your policy had lapsed earlier,
Read MoreMany couples put off buying insurance, especially life insurance, considering the subject too morbid. But there are ways to bring this up by highlighting that it is actually a life-saver for your dependents.
Read MoreOpting for international travel insurance can help travelers enjoy their trips without any hassles or interruptions.
Read MoreSection 80D allows taxpayers to avail tax deductions on the premiums paid towards health and medical insurance in a financial year
Read MoreThe insurer may refuse to extend a policy or in some cases throw in a waiting period or an extra charge, but that's a better alternative than having your claim denied because you weren’t acting in good faith
Read MoreIt’s time to give the due recognition to the women in your family during this Women’s Day for the responsibilities that they share with their male counterparts.
Read MoreWhile India’s Life Insurance penetration is comparable to Asian peers at 2.8 per cent of GDP, the protection gap is alarmingly high especially among women.
Read MoreHealth insurance is one of the most important tools to help us pay hefty hospital bills and avoid a financial crisis.
Read MoreMost of us do not read the offer documents of a health insurance policy and later blame the company for rejection/deduction of insurance claims. Most insurers apply sub-limits to the claim amount of health insurance policy to limit their liability under certain covers. It is important to note that being a part of original policy coverage limit, these claims are inclusive of sum assured.
Read MoreCreate an email that includes all that your family needs to know to make an insurance claim Term life insurance is a crucial step for securing the financial well-being of your family members when they do not have your shoulder to rely on.
Read MoreLIC IPO is pegged as the largest ever issue in the country LIC had previously pointed out that policyholders are required to link their PAN cards to become eligible for subscribing to LIC IPO
Read MoreToday, health insurance is not just an option but a necessity that a person should inculcate in their habits. A good health insurance cover can help you and your family tide over a medical emergency with ease.
Read MoreBoth these options are economical and offer a higher sum insured
Read MoreTo avoid crowding at the limited numbers of government-run hospitals and to get quick medical attention, many people have no option but to visit private hospitals. However, treatments in private hospitals are generally very costly and the rate of inflation in treatment costs are also very high.
Read MoreInsurers have to specifically give reasons for any claim denial and refer to the corresponding policy condition
Read MoreTalk about everything, ranging from personal finance management, stock markets, investment plans or budget – the more couples converse, better is the education
Read MoreLIC IPO Date, Price, Size: India has filed draft papers for nationa biggest-ever IPO. All you need to know before investing
Read MoreAn adequate medical insurance cover for your partner this Valentine's day can take care of diagnosis, treatment and healthcare in the most affordable as well as dignified manner.
Read MoreShaktikanta Das during a press conference stated that private cryptocurrencies are a major threat to the macroeconomic and financial stability of the country
Read MoreIf you have resolved to buy a life insurance policy this year, here are some guiding points that can help you get started on your protection journey
Read MoreIn a recent notification, the UIDAI also said that one can order Aadhaar PVC card for the whole family using just one mobile number
Read MoreLIC of India has revised the annuity rates of two annuity plans recently.
Read MoreHere are some important tips senior citizens should not forget before buying a health insurance policy.
Read MoreCancer is dreaded across the globe and accounts for more than 10 million deaths worldwide every year.
Read MoreLife Insurance Corporation, which is bound for the nation's largest share sale, is the strongest and the largest brand in the country with a valuation of $8.656 billion
Read MoreSome minor changes under the income tax laws which affect individual tax payers have been proposed in the Budget 2022 by the finance minister.
Read MoreNEW DELHI: Finance minister Nirmala Sitharaman on Tuesday kept the income tax slabs unchanged yet again in what was a largely infrastructure-focused budget for the coming financial year.
Read MoreUnion finance minister Nirmala Sitharaman presented the Union Budget 2022 today. In its Union Budget 2022, the government has massively increased capital expenditure target to Rs 7.5 lakh crore from Rs 5.5 lakh crore in the last Budget for FY23. The hike in capital expenditure will be a huge boost for the economy and for crowding in private investment to spur job creation.
Read MoreInadequate savings: When it comes to saving money, we as a nation are quite good at it, no? But do we save enough to encounter medical emergencies? The savings are inclined more towards being invested for better returns in the future.
Read MoreWhile buying a health insurance policy for protection against cancer here are the 12 factors you should consider
Read MoreInsurers will invest considerable resources in re-imagining the consumer's journey across the life cycle of a policy
Read MoreTax exemption on maturity proceeds of Ulips with an annual aggregate premium of over Rs 2.5 lakh has been removed. However, there will be no tax on proceeds in case of death of the policyholder
Read MoreITR Filing Deadline for AY 22 Extended: In the wake of coronavirus outbreak, CBDT has extended the various deadlines to file Income Tax Return for AY 2021-22. Know who will eligible to take benefit of this decision.
Read MoreIndia’s largest life insurer’s assets at $463 bn; The 65-yr-old insurance behemoth’s AUM accounts for 18% of India’s GDP
Read MoreIn an endowment plan, the sum assured along with bonus is paid on maturity while in the money-back plan, a portion of the sum assured is paid to policyholder at regular intervals.
Read MoreHow much will be enough? That’s the question everyone stops at. There is no one answer. It depends on your current income, your lifestyle, your dependencies, etc. And how much ever you need, you can’t save it all. You will have to let your money grow to that.
Read MoreThe CBDT has rolled out the new Annual Information Statement on the Compliance Portal which provides a comprehensive view of information to a taxpayer with a facility to capture online feedback.
Read MoreFrom next year, only the nominated members will be able to withdraw the EPF savings in the event of subscribers' sudden demise.
Read MoreTo ensure the financial well-being of your children, let us learn about five financial gifts one can leave for their family.
Read MorePeople are generally under the impression that the due date is also the last date beyond which you can not submit your ITR, which is not correct
Read MoreAs per the RBI rules, all Credit bureaus are mandated to issue one free full credit report, including credit score, to anyone who asks for such a report.
Read MoreFailure to comply with the deadline may create inconvenience for the defaulters.
Read MoreInsurers to increasingly focus on bundled offerings with hybrid features, innovative bite-sized or context-based solutions
Read MoreVery soon we will be entering the last quarter of the financial year 2021-22, hence this is the time to do the necessary computation and transactions.
Read MoreThere has been a rise in awareness about the benefits of insurance, but the sector still has a long way to go
Read MoreNot renewing an insurance policy even during the grace period defeats the purpose of buying a cover and your financial protection is at risk
Read MoreAlways remember to read your policy document and the terms and conditions of the policy to know what is included and what is not.
Read MoreA normal health plan is a must for covering most of your medical treatment costs while the critical illness plan will come handy in case of critical illness, where the treatment costs are much higher.
Read MoreSuch policies provide the child enough funds to continue education even if he loses his parents.
Read MoreOnce you buy a policy, the term rates will remain the same throughout the tenure, so it makes sense to lock into lower rates now
Read MoreThe most important reason for planning exclusively for retirement is the change in the fabric of the family structure.
Read MoreWith COVID-19 restrictions easing out, vehicles are once again back on roads as usual. This might be the best time for you to re-evaluate your vehicle insurance needs.
Read MoreYour health or life insurance document enumerates the terms and conditions of the policy contract. Strictly adhere to these to avoid any claim rejection
Read MoreAn annuity plan, designed to secure a guaranteed stream or source of income post-retirement, can help your parents with a financial cushion after they’ve retired.
Read MoreBefore one chooses the best insurance plan, it is important to understand the life insurance definition so that the best insurance can be chosen.
Read MoreDiwali is considered very auspicious for new beginnings and ventures. This makes it the Perfect Occasion to start your journey towards a Financial Freedom.
Read MoreThe recent pandemic brought home the acute need for proper financial planning. This festive season is a good time as any to gift your loved one’s life-long security by gifting them an insurance plan.
Read MoreLook for medical insurance with the shortest waiting period and minimum number of diseases under this period
Read MoreIf you are planning to take a home loan, this is a favourable time to take the plunge. But do remember to have a repayment plan in place to avoid any financial stress later.
Read MoreBuying a thing on debt or on equated monthly installment (EMI) may appear affordable, but making a habit of doing so may create tremendous financial stress on you in future.
Read MoreThe capital gains tax provisions for NRIs are similar to those for the resident individuals except for the applicability of TDS provisions. Like resident investors, the taxability of capital gains also depends on the holding period and the type of investments sold.
Read MoreThe only con of guaranteed income plans is the overall return of the product is usually lower than its counterparts but that is mainly because of the insurance portion in-built into the plan
Read MoreYou can explore pay as you go model and work on deductibles, too Do you own a four-wheeler but find commuting via public transport on a daily basis more feasible than driving? Or are you someone who owns more than one vehicle but usually drives one of them more than the others? If yes, here are a few tips for you to save on your motor insurance premium.
Read MoreHappy Dussehra 2021: An advice to remember especially when someone has just started out! Following a trusted expert or paying heed to market cues on future swings from a market leader, can help an investor to be watchful.
Read MoreAs one’s parents age, the hospital visits and ailments increase. In the backdrop of such a landscape, the best decision one can make for one's elderly parents and grandparents is to purchase a health insurance policy for them.
Read MoreITR Filing Tips for FY 2020-21 (AY 2021-2022): The deadline to file the income tax return for salaried or small business individuals has been further extended to 31st December 2021.
Read MoreNot everyone has the time and skills to manage their financial portfolio optimally. For such customers, ULIP provides an effective way to participate in the market as well as an insurance cover to deal with uncertainties of life.
Read MoreIf an individual’s CIBIL score has been falling, they might have taken financial decisions that have dented their score. To fix that, he/she first needs to understand what has affected the score.
Read MoreSection 80C includes an exhaustive list of investments on which you can claim tax deduction while filing for your taxes. Some of these are Employee Provident Fund, Public Provident Fund, life insurance and so on.
Read MoreThe Reserve Bank of India (RBI) today cautioned people against frauds being conducted in the name of KYC updation. In a statement, the RBI said it has been receiving complaints/reports about customers falling prey to frauds being perpetrated in the name of KYC updation.
Read MoreThe due date of furnishing of Return of Income for the Assessment Year 2021-22 was July 31, 2021; it has now been extended to December 31, 2021.
Read MoreSenior Citizens above the age of 75 years, who only have pension and interest as a source of income, will be exempted from filing the income tax returns (ITR) for fiscal year 2021-22. The Central Board of Direct Taxes (CBDT) has now notified rules and declaration forms which senior citizens would have to file with the specified bank.
Read MoreThere have been and will continue to be several rule changes this month. These changes come in the form of regulatory policies across banking, financial and even automotive sectors that will affect the day-to-day lives of the average citizen. With that said, here are the 10 most important changes that citizens have to contend with, in the month of September 2021.
Read MoreAs equity shares of a company are considered as capital assets, selling such shares would either result in a capital gain or capital loss.
Read MoreIf handled carelessly, credit cards can adversely impact your financial health for a long time to time. These five common signs indicate you are using your credit card the wrong way.
Read MoreMUMBAI: Life Insurance Corporation of India has said that its asset base has crossed Rs 38 lakh crore with total investments of Rs 36,76,170 crore and a life fund of Rs 34,36,686 crore as of March 2021.
Read MoreAs August comes to a close, the month of September brings new changes with it. From Aadhaar to the bank, to the price of LPG cooking gas, there are quite a few changes that will take effect as of next month. These new rules and implementations will be affecting your day-to-day life as well as changing the landscape of the economy somewhat.
Read MoreHaving a good credit score goes a long way. Experts say a good credit score is a gateway to a smooth financial life. That is the reason many individuals actively seek information to manage their creditworthiness.
Read MoreThis Independence Day, be well informed and choose to be free of financial worries by covering your risks with insurance.
Read MoreHere's a five-point checklist to help you set your future goals and build a unique plan for your financial freedom and security.
Read MoreLet's see 7 different types of health insurance plans and what they have to offer.
Read MoreTry to improve your credit score even if you get a loan with a higher rate at the beginning so that the risk premium gradually gets lowered during the course of the loan
Read MorePension plans are a combination of Insurance Plans with Annuity. Experts say the ideal way of investing in it is to start investing in the late 20s wherein the premium is relatively low comparing it with later years of age.
Read MoreFrom budgeting missteps and impulse purchases to inadequate contingency planning and much more, nobody is immune to financial faux pas.
Read MoreTo provide relief to depositors in stressed banks like Punjab and Maharashtra Co-operative (PMC) Bank, Union Cabinet on Wednesday cleared the amendments in Deposit Insurance and Credit Guarantee Corporation Act, 1961, (DICGC Act). Depositors of banks under moratorium the will no longer have to wait for the Reserve Bank of India (RBI) to rescue the bank to access their funds.
Read MoreUnder the amendment, depositors of a bank under moratorium will no longer have to wait to access their money All commercial banks and even branches of foreign banks operating in India will come under the purview of this Act
Read MoreIt is important to understand whether one should apply for a home loan with a co-applicant or as the sole applicant.
Read MoreIn view of the exorbitant hospital and medical bills that are being accrued be it due to COVID treatment or any other medical reason, people have started not only opting for health insurance but also choosing the best health protection available.
Read MoreEven though an emergency fund of at least 3 months' expenses is a must to deal with a crisis, it might not be possible for everyone to hold up such savings. Under such circumstances, a quick loan comes out to be the only option.
Read MoreThe Life Insurance Corporation (LIC) of India has introduced a new health insurance plan called Arogya Rakshak, which is a non-linked, non-participating, regular premium, individual health insurance plan.
Read MoreTry to make as much part-prepayments as possible when the applicable home loan interest rates are low and your credit score is high
Read MoreEven in a low interest rate scenario, life insurance products offer benefits that no other financial product does including life cover, additional riders, guaranteed returns, safety net, and tax benefits.
Read MoreThe procedures that require medical care and are completed within 24 hours are called daycare procedures.
Read MoreThe pandemic may have brought drastic changes to our daily lifestyle, however real estate investments are here to stay and will grow in popularity.
Read MoreIn case the minor children have not been appointed as nominees, the guardian can, on their behalf, produce proof such as death certificates
Read MoreA health plan is your best help during medical emergencies. Ponder over these 10 points before you buy one
Read MoreThe government is likely to reduce the interest rates on small savings schemes from July 1 to keep in line with falling interest rates in the market
Read MoreMany investment options are readily available in the financial market, but life insurance is the one if opted for at an early age, provides multiple benefits ranging from, providing protection to your family in your absence, planning your retirement, adds financial security, helps in saving tax.
Read MoreDo you have enough savings to live a comfortable retired life? Can you afford a sabbatical in your professional life and pursue your passion? Can you afford to send your kids abroad for education? If you are afraid to answer these questions, it is time you re-evaluate your financial choices and think about building wealth.
Read MoreLife insurance policies of the pure protection variety, known as term Insurance, are basic and most necessary form of life insurance cover.
Read MoreAccording to a survey conducted by Policybazaar.com, over 90% of Indians believe that Health and Term insurance is important for their financial safety and mental wellbeing
Read MoreIf there are co-applicants in the home loan, they, too, should have a life insurance. The recent deaths due to covid-19 have shown that it's always better if all borrowers are covered
Read MoreIncome Tax relief has also been provided on any amount received by an employee from the employer or any well-wisher for treatment of Covid-19.
Read MoreLast Date to Link PAN Card with Aadhaar Card: Your PAN Aadhaar linking needs to be completed within the due date else the PAN will become ‘inoperative’.
Read MoreYou can claim tax deductions against education loans under Section 80E of the Income Tax Act. However, there are a few things to keep in mind.
Read MoreLike many other twenty-somethings in India, Beverly Coutinho kept postponing buying a life insurance policy, until a surge in COVID-19 cases and deaths made her confront her own mortality. "I saw people my own age dying, which prompted me to get life insurance immediately," says Coutinho, a 24-year-old senior executive at a public relations agency in Mumbai.
Read Moresecured loan option allows borrowers to meet their financial requirements without the need to liquidate their assets to meet the sudden liquidity requirement. These options are credit risk-free for borrowers as they have the option to sell the pledged securities in the event of a payment default.
Read MoreWhen buying a term insurance policy, you aim to secure the future of your wife and children in your absence. You want that the claim amount reaches them quickly and without any hassles. However, if there are any outstanding loans to any creditors or relatives or friends, the creditors would have a prior claim to the money before your beneficial nominees (spouse and children).
Read MoreThe income tax return filing website will not be available for taxpayers for at least six days, starting from Tuesday. Employee Provident Fund Organization (EPFO) earlier asked the subscribers to link their provident fund accounts to the Aadhaar card from June 1. From new income tax filing online portal to costlier flight tickets, here’s a list of changes that will come into effect this month
Read MoreThe income tax return filing website will not be available for taxpayers for at least six days, starting from June 1.
Read MoreIn terms of tenure, while many lenders offer long loan tenures of up to 30 years for repayment, try to choose a tenure not longer than 20 years.
Read MoreWhen a bank fails, the only respite a depositor has is the insurance cover offered by the DICGC. This cover was raised to Rs 5 lakh from Rs 1 lakh, effective from February 4, 2020.
Read MoreWith many policyholders are among Covid-19 casualties, it's important to know the effect of death of an insured person on an active health insurance policy.
Read MoreUnexpected Covid-19 deaths have devastated families across the country. Not just emotionally, Covid has destroyed families financially as well.
Read MoreThese insurance policies have another essential element of coverage that immunes a vehicle from theft. Vehicle theft is one of the most common crimes, especially in major cities; hence, it is all the more essential to have a vehicle insured.
Read MoreIf you have a long tenure home loan running in your name and are finding it difficult to repay your loans owing to less or no payouts due to the coronavirus pandemic, you can try one of the following methods
Read MorePrices of popular cryptocurrencies like Bitcoin, Etherium and DogeCoin have dropped massively in the last 24 hours.
Read MoreIndustry experts say with state election results already announced the government will now take a decision on the rates.
Read MoreCHENNAI: Besides its debilitating health impact, Covid is draining the finances of its victims, particularly the uninsured, causing some to get into long-term debt.
Read MoreNurses Day 2021: Right from Florence Nightingale in the Crimean War to Fatu Kekula who help to treat Ebola patients in Liberia, nurses have been at the forefront of any healthcare crisis.
Read MoreThe most common ground for rejection is incorrect or false information in the application/claim form
Read MoreUnlike the Baby Boomers and Gen X, millennial parents and especially millennial mothers will have to make smarter financial decisions to secure a future for themselves as well as their children.
Read MoreIf your policy covers maternity benefits, costs incurred during hospitalisation as a result of maternity will be covered up to the sum insured limit. In some instances, the cover is also available for any medical complications of the newborn child.
Read MoreBefore you start repaying loans, make sure you have an adequate investible surplus for meeting your long-term goals.
Read MoreOne needs to remain alert while doing any kind of high value cash transaction because the Income Tax Department has become highly vigilant about the cash transactions
Read MoreKeeping in mind safety of its customers amid the second wave of the COVID-19 pandemic, state-run Life Insurance Corporation of India (LIC) Friday announced a slew of relaxations in claim settlement requirements, making the process easier and hassle free.
Read MoreAll hospitals, nursing units, dispensaries and COVID care centres will be able to accept cash over Rs 2 lakh from the patient's family. The exemption will be applicable on all transactions between April 1 and May 31
Read MoreThe reforms in the second wave are expected to increase not only the country's insurance penetration rate but also lead to a conscious shift in the insurance product mix.
Read MoreA structured retirement planning starting at an early age will help unleash the power of compounding for a longer period of time, thus helping accumulate a bigger corpus.
Read MoreEvaluating your expenses can take you closer to achieving your life goals It is important to have a financial plan. If you do not have one, then put a halt, make the plan and restart your financial activities. For designing one such plan that focuses on achieving your financial life goals
Read MoreLife Insurance Corp. of India (LIC) booked a record ₹37,000 crore profit from share sales in 2020-21, the highest in its 65-year history, as the stock market reached record highs. The latest profit is a 44.4% jump against its ₹25,625 crore profit from stock sales in fiscal 2020.
Read MoreThe report also looks into the strongest insurance brands. The list is led by Italy's Poste Italiane, followed by Spain's Mapfre, and India's LIC
Read MoreIt is important for women to focus on planning their finances for meeting their long-term goals and aspirations.
Read MoreWith this, not only will you be able to get the best interest rate but can also keep the overall interest cost low till the end of the home loan tenure.
Read MoreIn 2020-21, LIC has achieved its highest-ever first year premium income of Rs 56,406 crore under individual assurance business with a 10.11% growth over last year.
Read MoreA comprehensive car insurance plan not only covers the mandatory third-party insurance for your vehicle but also provides coverage for any damages to your own vehicle as well!
Read MoreThis financial burden can be supported by a special financial protection plan called ‘Critical Illness Plan’. You should purchase a critical illness plan along with a health insurance plan.
Read MoreHere is a list of some important questions to help you avoid making a mistake while you plan to take a home loan.
Read MoreLike all other festivals these nine incarnations also teach us many life lessons to deal with different facets of life including investments.Chaitra Navratri or Vasanta Navratri marks the beginning of the new year of Vikram Samvat of Hindu calendar. Navratri is celebrated to worship nine manifestations of Goddess Durga that represent different characteristics of the Adi Shakti.
Read MorePlanning for your child’s future is no longer a decision you can procrastinate. It needs your urgent attention, especially if you are a new couple or new parents.
Read MoreOnly the bare minimum changes necessitated due to amendments in the Income-tax Act, 1961 have been incorporated in the forms, CBDT said in the notification for the new ITR forms
Read MoreA term insurance cover should be in place at least till retirement, or till the time one has dependents or liabilities like loans
Read MoreBoth annuity plans and term insurance plans can help you to plan your retirement as there are different variants available in the market
Read MoreFinance Minister Nirmala Sitharaman on Thursday said salary income earned by non-resident Indians in Gulf countries would continue to be exempt from tax in India.
Read MorePeople of Indian origin and the Indian diaspora having Overseas Citizens of India (OCI) cards are now not required to carry their old, expired passports for travel to India, as required earlier, according to a government notification that has been welcomed by members of the community.
Read MoreApril 1 will mark the beginning of a new financial year and will bring a slew of income tax changes. Some of the changes were announced by the Union Finance Minister Nirmala Sitharaman while presenting the Union Budget 2021 in February. Here is a list of changes which will be introduced from the coming financial year.
Read MoreCountless people are confronting new financial realities a year after the first of the Covid-19 lockdown announcements. The past year may not have been equally difficult for all of us, but it has surely forced each one of us to rethink our financial priorities. With a resurgence of cases in many regions and vaccinations still in the early phases, the Covid-19 pandemic is far from over.
Read More“I know these premiums would pinch us a bit, but both of us know that in case something happens to me in the next few years, our current savings are not enough to take care of Varun’s expenses for the rest of his life.” Madhavi could clearly recollect her late husband Rahul’s exact words while filling his life insurance claim form.
Read MoreIncome Tax Changes: March 31 is an important date for income taxpayers in India as a number of changes are going to kick in from April 1.
Read MoreIf both your parents are below 60, you can claim a deduction on premiums up to Rs 25,000 on health insurance
Read MoreWith the financial year coming to an end on March 31, many taxpayers would now be looking at ways to save taxes. In the old taxation regime, there is an option to enjoy tax exemption, which is not there for taxpayers in the new taxation regime.With the financial year coming to an end on March 31, many taxpayers would now be looking at ways to save taxes.
Read MoreFinance Minister Nirmala Sitharaman on Tuesday raised the limit for tax exemption on interest earned on provident fund contribution by employees to Rs 5 lakh per annum in specified cases as against Rs 2.5 lakh proposed in the Budget.
Read MoreNEW DELHI: Gold and silver futures fell on Monday as Turkey replaced its central bank governor with a high interest rate critic led to investors flocking towards the safety of the dollar, on fears that the move would threaten other financial markets.
Read MoreWhile easy access to loans help individuals realize their dream, buying a home is also encouraged by way of tax benefits. Understanding these benefits can be useful in our tax planning and must be included as one of the important factors to consider.
Read MoreAccordingly, LIC said its 113 divisional offices, 2,048 branches, 1,526 satellite offices and 74 customer zones will receive maturity claims from policyholders irrespective of the servicing branch of the policy.
Read MoreThe purpose of reporting these transactions is to enable the tax department to provide this information pre-filled in the ITR forms to the taxpayers as announced in the Budget speech of 2021 by the finance minister. There is no ceiling prescribed for reporting such transactions
Read MoreThe Life Insurance Corporation (LIC) of India has launched Bachat Plus, a non-linked, participating, individual life assurance savings plan.
Read MoreAs many as six life insurance companies are set to increase their term plan premiums by 10-15 per cent from April, but Life Insurance Corporation (LIC), the largest life insurer in the country, will not raise rates for such schemes.
Read MoreDue to the declaration of the lockdown and suspension of international flights owing to the outbreak of COVID-19, many NRIs had to prolong their stay in India.
Read MoreReduction in the recent home loan interest rates will benefit new borrowers as the rate cuts will only be applicable for them and not to the existing borrowers.
Read MoreSeveral banks offer women savings accounts and credit cards tailored to their needs besides better terms on loans
Read MoreRevisit your financial plan at intervals and make necessary adjustments. This will ensure you are not financially stressed but at the same time able to achieve your life goal
Read MoreOne should always be a pro in managing finances by making a note of the assets and liabilities and defining personal goals. it is important to prepare a budget for the coming year to be in a better position to understand where the money is being spent and where one will undertake savings.
Read MoreIt is important to choose one’s health cover wisely, else it can drain one's money without providing any adequate protection.
Read MoreFinancial year and tax planning Income tax is calculated on the income you earned during a financial year. As the financial year 2020-21 approaches, this could be the right time for you to plan and find out how much tax you can save. Starting this year, you can opt for the old tax regime and avail tax benefits, or opt for the new regime to forgo tax benefits but enjoy lower tax rates.
Read MoreWith India’s average age of less than 25 years, retirement might seem far away. However, with a rise in average standard and cost of living, medical inflation, etc. retirement is a phase that needs careful planning and precision so as to ensure that there is no compromise on the overall post-retirement lifestyle and expenses.
Read MoreThe need to buy health insurance coverage for self and family is to avoid dipping into one's savings to meet the cost of hospitalization.
Read MoreAfter a motor insurance policy expires, the first and foremost thing the policyholder should do is to inform the insurance company. Experts say informing the insurer should be done on a priority basis, as soon as the policyholder gets an update about the motor insurance policy's expiry.
Read MoreA comprehensive motor insurance policy covers you for both third-party damages and own damages
Read MoreThe RBI has been cracking down on weak co-operative banks over the last few years. In 2020, the RBI cancelled permits of three co-operative banks and imposed restrictions on several other banks.
Read MoreMUMBAI: Indian banks have started pulling the plug on customers investing and trading in crypto assets as the spectre of government ban on cryptocurrency rises. The government recently said that it plans to introduce a law banning trade in all cryptocurrencies — except for those issued by the government itself.
Read MoreIndian income tax rules provide a lot of opportunities to reduce your taxable income. However, most taxpayers know and take advantage of ₹ 1.5 lakh deduction available under Section 80C.
Read MoreEXCLUSIVE: LIC gross investments will exceed Rs 5 lakh crore in FY21, says chairman MR Kumar LIC's`contrarian’ strategy when investing in equity markets, to sell when the sentiment is bullish and buy when the mood is bearish, has paid rich dividends
Read MoreNEW DELHI : Up to 10% of the LIC IPO issue size would be reserved for policyholders, Minister of State for Finance Anurag Thakur said on Tuesday. The government will remain the majority shareholder and will continue to retain management control safeguarding the interest of policyholders, he said.
Read MoreUnion Budget 2021-22: The Finance Minister presented the first paperless Union Budget 2021-22 in the Parliament yesterday. While no structural changes have been proposed to the personal tax rates, it introduced some relief measures and proposals to facilitate ease of compliance for the taxpayers explained hereunder:
Read MoreIt must be noted that the senior citizens who are above 75 years age, are not exempted from paying tax but only from filing income tax return (ITR) if they are eligible
Read MoreUnion finance minister Nirmala Sitharaman presented the Union Budget 2021 in Parliament on Monday. The finance minister provided a major boost to healthcare and infrastructure in Union Budget 2021. However, there was no change in Income Tax slabs this year.
Read MoreThe Union Budget 2021, presented by Finance Minister Nirmala Sitharaman, did not make a change to tax slabs in Income Tax Returns. However, Sitharaman announced relief for senior citizens above the age of 75, relief for NRIs measures that will make filing taxes easier.
Read MoreThe finance minister, Nirmala Sitharaman, has announced that in case a bank fails or withdrawals from the bank are stopped due to financial pressure on the bank, the depositors will be able to get immediate access to their deposits upto the deposit insurance amount of Rs 5 lakh, i.e.
Read MoreFinance Minister Nirmala Sitharaman, while presenting the Budget 2021, has proposed taxability of interest on various provident funds where income is exempt.
Read MoreThis deduction is over and above the deduction of Rs 2 lakh for interest payments available under Section 24(b) of the Income Tax Act, 1961
Read MoreHaving a good credit score goes a long way. According to experts, almost 6 out of 10 millennials are rejected due to low credit score when applying for credit cards, mortgages, car loans, and other financial products.
Read MoreGenerally salaried individuals need to submit their investment proof by December end, so that tax deducted at source (TDS) may be adjusted – in case there are differences in proposed investments and actual investments – against the salaries of January, February and March.
Read MoreSeveral factors affect the need for an insurance plan at different stages of life. Here are some significant reasons why one should review their health or life insurance plan in 2021
Read MoreThe ongoing COVID-19 pandemic has impacted almost every financial instrument in a significant manner, especially those soon approaching retirement as they are not able to take a cautious call on where to keep the accumulated corpus invested.
Read MoreOnce you have identified investment instruments based on your income, age, risk-taking abilities, and time in hand, you should consider the following factors before you actually invest in the preferred options.
Read MoreThe beginning of 2021 is also the time when you should plan to overcome any financial setbacks that were brought about by the Covid-19 pandemic in 2020.
Read MoreEmergency loans are the next safest bet after friends and families when you are in dire need of cash. They are better than payday loans and title loans as they are more economical and easier to pay off.
Read MoreThe tax department in a tweet said 5.95 crore ITRs for Assessment Year 2020-21 were filed till January 10, 2021, as compared to 5.67 crore ITRs filed for the previous Assessment Year by September 10, 2019.
Read MoreEveryone has limited resources to spend, and to reorient oneself, there is a need to change certain consumption habits. So curtail unnecessary expenses, invest in your health and save money for the essentials
Read MoreTo ensure that assesses file their income tax return (ITR) on time, the provision of late fee up to Rs 10,000 was introduced in the Union Budget 2017.
Read MoreIf you can prove that your income can support EMI payments through an increase in the salary or through additional sources of remuneration, a lender can entertain your loan requests even if you depict a low credit score.
Read MoreThis is the time of the year when a majority of us make some resolutions as regards our physical fitness but only a few make resolutions for remaining financially fit.
Read MoreTaking care of one's finances and creating a solid financial plan have become more important now, particularly in view of the Covid-19 like situations, which can turn our lives topsy-turvy.
Read MoreThis is the third time government has extended the deadline for taxpayers for whom the normal deadline is July 31. The government has also extended the date to submit the tax audit report to January 15, 2021. The last date of filing declaration under Vivad Se Vishwas Scheme has been extended to January 31, 2021.
Read MoreTaxation rules for debt and equity investments are different. So look at the tax implications on each instrument before investing
Read MoreInvesting in long-term instruments during your earning years helps you save more and get the benefit of compounding
Read MoreStarting with term plans at a young age to pension plan on retirement and a variety of health covers all through life, there are insurance plans made for every life situation
Read MoreTax saving is crucial, and it is an important parameter, but it is not the only parameter for considering any investment avenue or product. Investment gives financial freedom.
Read MoreHelping children learn about financial planning can be a blessing to them as they grow up. Here are a few tips for parents to teach children about financial planning.
Read MoreFiling your income tax return for FY 2019-20? To make the return filing process simpler, here are a few things to keep in mind.
Read MoreWhile it is imperative to check what all events are covered under the policy, choosing the right sum insurance is equally important.
Read MoreLIC’s profits primarily come from sale of shares in the insurer’s large, non-linked portfolio, which includes traditional life insurance policies
Read MoreAs Indians wake up to the fact that long-term wealth creation and protection is critical, many are urgently re-evaluating their long-term portfolios.
Read MoreLaden with high levels of non-performing assets (NPAs) or bad loans in their books, most banks have made the Indian banking sector a notoriously dangerous one.
Read MoreFollowing the cancellation of its licence, The Karad Janata Sahakari Bank has been prohibited from conducting the business of 'banking' which includes acceptance of deposits and repayment of deposits with immediate effect
Read MoreIf you do not require the entire PPF account balance in one go, it’s best to extend it
Read MoreEvaluate your earnings and compare it with your expenses. Curtail the unnecessary spending and save the money to celebrate bigger and more important milestones.
Read MoreThe MPC’s decision to continue with the accommodative stance, despite the current inflationary pressures, clearly demonstrates the RBI’s prioritisation of economic growth over inflation.
Read MoreThe structure protection plan covers the structure of your house from any kinds of dangers and risks. In addition to this, the policy also protects any permanent fixtures within the house.
Read MoreFiling of ITR is necessary for carrying forward any losses sustained during the year for set-off in subsequent years
Read MoreAnnuity products from life insurers cover an individual for life, remove reinvestment risks and are not vulnerable to market volatility
Read MoreThe value of equity holdings of Life Insurance Corporation (LIC) has climbed to record levels. At the end of the September quarter, the insurance behemoth’s holding in companies from the top 200 universe stood at $77 billion. Since then, the market has climbed another 12 per cent.
Read MoreThe ITR forms notified carry some significant changes. Taxpayers should bear in mind these changes while filing their ITR for AY 2020-21.
Read MoreIf you get your parents enrolled under an individual health cover before they turn 60, there will be no burden of co-payment for a lifetime
Read MoreThe failures of Indian banks in the recent times has taught us simple reasons as to why, perhaps, it is good to keep only Rs 5 lakh in a bank.
Read MoreBeing wise with money shouldn’t be seen as a punishment but rather as a guilt-free way to make the most of your hard-earned money.
Read MoreThe RBI also superseded the LVB board and appointed TN Manoharan, former non-executive chairman of Canara Bank, as its administrator for 30 days.
Read MoreThe taxability of the gift is determined on the basis of the aggregate value of gift received during the year and not on the basis of individual gift.
Read MoreAt the end of October 2019, LIC held a market share of 70.9 percent while private insurers held 29.1 percent based on new premium collection
Read MoreCritical illness insurance policies provide financial support to the insured if they are diagnosed with cancer.
Read MoreMinistry of Road Trasport & Highways (MoRTH) on Saturday said that a valid FASTag is mandatory while getting a new third party insurance through an amendment in Form 51 (Certificate of Insurance), wherein the details of FASTag ID shall be captured and this will be applicable from April 1.
Read MoreAn emergency corpus can be built over a period of time, allocating a portion of the income in a disciplined manner. In case you use up a part of the corpus for any sudden requirement, you need to replenish the same as quickly as possible for future use.
Read MoreFor professionals and others, who don't get regular salary, Income Tax Returns (ITRs) are used as income proof for various purposes.
Read MoreLegal heirs of the dead must file income-tax returns for income earned in the year the dead passed away. Legal heirs cannot just merge the income with their own income and file just one tax return
Read MoreSort the paperwork and complete financial tasks without leaving any loose ends after the death of a family member. ET Wealth tells you about the documents needed to close accounts, transfer investments and make claims and the processes to complete these tasks.
Read MoreWhile many women have a keen sense of finance, in most cases, they take a backseat when it comes to avenues for growing money and making investment-related decisions
Read MoreExperts say the govt has given a suitable extension for annual compliance under GST laws as well as income tax laws due to disruptions caused by coronavirus.
Read MoreThe deadline for filing returns by individual taxpayers for FY 2019-20 has been extended by a month till December 31, the finance ministry said on Saturday.
Read MoreAre Indians prepared for their retirement? Yet another survey result shows that they are not. Most participants of the survey said they did not have a retirement plan.
Read MoreGiven the correlation between wealth and well-being, nearly 50 per cent of respondents would like to advise their younger selves to start investing as early as possible in life.
Read MoreThose who haven’t already planned for retirement, say that they expect to start planning for it by the age of 51, reveals a survey by PGIM India Mutual Fund.
Read MoreBarely one in five considers inflation while planning for retirement. Life insurance and bank FDs are top choices for those who plan for retirement, and this underlines the essential conservatism in most retirement plans.
Read MoreMR Kumar, chairman of India’s largest insurer, due for an IPO next year, on his management style, the book that influenced him and lessons in leadership.
Read MoreEmployers have ensured to extend help to employees to make the work environment conducive – reimbursement of certain expenses, grant of additional allowances or benefits, extended medical coverages, etc.
Read MoreThe main objective of a life insurance policy is to provide financial protection to an individual and his/her family, in the face of uncertainties.
Read MoreBENGALURU: Annual premium on health covers have risen by 40-70% for policyholders after insurance companies hiked rates following a regulatory diktat to widen coverage and standardise conditions with regard to exclusions.
Read MoreLIC’s Jeevan Akshay-VII, Life Insurance Corporation of India: This is a very popular plan among pensioners and national pension system subscribers. LIC has set certain conditions for investment in this pension-relieving policy.
Read MoreThe coverage amount or the sum assured is paid to the nominee in case of death of the insured during the policy tenure.
Read MoreYour very money traits and habits form the foundation for your children's money behaviour when they become adults. Find out about your money behaviour that may be causing stress in your children and how to stop yourself from doing so.
Read MoreThe Draft National Policy for Senior Citizens has rightly placed emphasis on promoting the existing pension programmes
Read MoreMumbai: Life Insurance Corporation of India, India's largest life insurer, continues to give outstanding performance even in times of business distress. LIC's resilient and quick response in meeting the expectations of the market and the people of the nation has brought it exemplary results in the current financial year.
Read MoreBorrowers who are facing salary cut/job loss due to the novel coronavirus pandemic situation and were looking for some reduction in their EMI burden will have to wait a little longer. However, no change in policy rates means good news for FDs investors as banks may go slow on cutting interest rates on FDs.
Read MoreThere is a need for a disciplined approach to ensure that balance is created between monthly expenses and savings with the intention to meet long-term financial goals as well as creating emergency funds.
Read MoreIt has been clarified that a payment gateway would not be required to deduct TDS provided the e-commerce operator has already deducted the tax on the same transaction.
Read MoreThe term insurance cover should be calculated after factoring in existing savings and investments
Read MoreEven if a poor student wants to take assistance from his/her relative(s), the amount of tax will be added to the financial burden if the amount exceeds Rs 7 lakh.
Read MoreWhether it is rent waivers or vacant property due to lockdown, the government needs to consider the tax impact on rental income
Read MoreAll of the banks in the country offer an interest rate for daily balances maintained in the savings account. Some banks like State Bank of India offer an interest rate of just 3 per cent, while banks like IDFC First Bank offer an interest rate of as much as 7 per cent. We all know that the interest on bank fixed deposits is taxable
Read MoreWe all know how much you love LIC and our articles on LIC policies. Today we are telling you about such a policy that you will have to give only 1 instalment and you will get income every month after retirement. The policy is called LIC Jeevan shanti. Let us tell you about this policy in detail.
Read MoreEvery Central Government pensioner has to submit life certificate for further continuation of the pension amount.
Read MoreIndia’s largest life insurer, Life Insurance Corporation, has raked in tidy gains on its equity investments so far this fiscal, thanks to a sanguine capital market. LIC has booked profits of ₹14,857 crore as against ₹11,437 crore last year for the same period (April to September) showing a growth of 30.37 per cent.
Read MoreThese measures will make debit, credit cards more secure and curb their misuse Let's take a look at RBI's new guidelines for credit, debit cards with effect from today
Read MoreMotor vehicle rules, income tax, health insurance, credit and debit card rules are changing from today Let us know what is going to change from October 1
Read MoreMillions of people have invested in LIC as an investment here is remotely safe as it is governed by the government. Also, investing in LIC (LIC Policy) gives many benefits to customers in the future.
Read MoreStarting from October 1, your debit and credit cards will be more secure All new debits and credit cards, including those which are reissued, can only be used for domestic transactions at ATMs and point of sale (PoS) terminals, said RBI
Read MoreA self-employed individual faces a plethora of more challenges than a salaried individual and this is why it is all the more important for a self-employed person to invest in term plan.
Read MoreThe CBDT has extended the last date for furnishing of belated and revised ITRs for Assessment Year 2019-20.
Read MoreShould you really opt for the loan restructuring plan if you’re eligible for it and will it be useful to you? Find out.
Read MoreTrend in US dollar may continue to be key price determining factor for gold and silver, say analysts Gold and silver prices have declined sharply in Indian markets over the past six weeks
Read MoreAccording to the World Heart Federation, heart disease is known to be a silent killer which takes the lives of 17.5 million people each year accounting for 31% of global deaths.
Read MoreIn a rush to file their ITRs on time, many taxpayers make some ITR filing mistakes which sometimes cost them dearly. Here we take a look at some of them.
Read MoreLaunched in 2017, this LIC pension scheme for senior citizens will attract a fixed interest rate for FY 2020-21 The scheme can be purchased offline as well as online from LIC website
Read MoreCatch up on missed payments as early as possible and make on-time payments to improve your credit score
Read MoreThese top-up and super top-up plans work as supplementary health plans, especially for policyholders that only hold an employer's health plan as well as for policyholders that have a low sum insured in their basic health plan.
Read MoreMany corporate health plans have the room-rent capping and the co-payment clauses, both of which can cause you to shell out money from your bank account for medical care facilities. Read on to know more.
Read MoreThe uncertainties of healthcare happenings emphasize why millennials need to secure their future and that of their families via term insurance plans.
Read MorePriya (24 years old), who works in a bank, earns enough to save nearly 30% of her income after taking care of her household expenses. She has surplus money in her savings account and is looking for appropriate investment options.
Read MoreThe insurer has collected about Rs 87,300 crore of renewable premium till August this year, registering a growth of 13.5 per cent over the same period of the last fiscal, he said.
Read MoreThe financial status of 277 urban cooperative banks is weak.105 cooperative banks are unable to meet the minimum regulatory capital requirement, Sitharaman said in Lok Sabha
Read MoreFor most young couples, a big milestone in life is starting a family. If you too fall into this category, you’ll agree that with the arrival of a child, there are many wonderful things that new parents have to look forward to. From seeing the child take first steps and listening to the child’s first words to preparing them for their first day at school.
Read MoreState Bank of India (SBI) has slashed interest rates on fixed deposits The new SBI fixed deposit (FD) interest rates is effective from September 10
Read MoreLife Insurance Corporation (LIC), which is set to get listed following the government’s decision to float an initial public offering (IPO), is expected to be the most valuable company in the country. In an interview with TOI, LIC chairman M R Kumar speaks of how the corporation keeps reinventing itself to remain relevant to every generation...
Read MoreThe Reserve Bank of India had come out with the notification in March after the nation-wide lockdown was imposed to curb the spread of the pandemic and had given the facility of deferred payment of installments to borrowers and the scheme had end on August 31.
Read MoreInsurers offer traditional endowment products with a guaranteed return and these are better suited to those who look for a steady growth of their funds.
Read MoreITR-1 or Sahaj, which is the most simple form, is for resident individuals whose total annual income is less than Rs 50 lakh and have income from salaries, one house property, interest income and agricultural income up to Rs 5,000.
Read MoreThe development could lead to higher bonuses for policyholders and a better valuation for its upcoming initial public offering
Read MoreDepending on the pace of economic recovery, home loan interest rate bottoming out may take anywhere between several months to a few years. So when to switch to a fixed rate depends on this trend in interest rate movement and your own reading of the situation.
Read MoreMost banks have now lowered their home loan interest rates compared to those of last year while some are offering rates under 7% per annum.
Read MoreThe alleged fraud was exposed when a large number of savers decided to withdraw their money amid covid-induced financial crisis
Read MoreMaharashtra has the highest number of claims, followed by Tamil Nadu. So far, insurers have settled over 1.06 lakh claims amounting to more than Rs 1,000 crore.
Read MoreDuring 2019-20, LIC registered a growth of 25.17 percent in its 'New Business' in terms of first year premium.
Read MoreDuring the end of FY 2019-20, a number of individuals holding the status of RNOR or NR were stranded in India due to the COVID19 pandemic Indian Government relaxed residential provisions for FY20
Read MoreHome finance companies are known for easier and hassle-free paperwork, providing higher loan-to-value to borrowers.
Read MoreWhile some misconceptions restrict users from making the most of their credit cards, others may result in wrong usage. Let’s understand 5 widespread misconceptions about credit cards.
Read MoreThe trend shows that there is huge demand for short-term COVID-19-specific covers, especially among the first-time buyers of health insurance.
Read MoreMR Kumar says the insurance behemoth may bring in outside fintechs and insurance techs to grow scale
Read MoreBuying interest may emerge in gold at lower levels, say analysts Many analysts still maintain a bullish view on gold amid uncertain global economic recovery
Read MoreThe new found interest in pure protection products has improved sales in LIC’s term products
Read MoreAnalysts say that new of Russia approving world's first covid vaccine triggered profit-taking in gold and silver, Silver rates crashed ₹14,000 per kg in just two days
Read MoreHealth and life insurance is not just a matter of benefit but a necessity in these times of emergency. It is predicted that the majority of individuals will be inclined to get a risk cover.
Read MoreHealth insurance cover can be purchased not only for yourself but also your spouse, children and parents so that the whole family can enjoy the coverage.
Read MoreConcessions are limited to late fee only, LIC said The two-month campaign will end on 9th October
Read MoreSome of the taxpayers who have reported capital gains are getting scrutiny notices from the tax department asking for more details regarding these transactions.
Read MoreMumbai: The RBI on Thursday said it will provide a debt resolution window to enable lenders to implement a resolution plan in respect of eligible corporate exposures as well as personal loans, keeping the ownership unchanged, and without classifying them as non-performing loans.
Read MoreIf an immediate family member is made the nominee, then the proceeds will go to the intended person
Read MoreInsurer can send the completed proposal form to the customer's registered e-mail ID or mobile number in the form of an e-mail or a message with a link The customer can then give his consent by clicking the confirmation link or by validating the OTP shared
Read MoreDo you know the difference between a ‘Mediclaim’ and ‘Health Insurance Policy’? These two are being used interchangeably. Although, both these terms are used in the context of hospitalisation and medical expenses, they are two very different protection plans. Read this space to know how
Read MoreNew business premium income of LIC's pension and group superannuation business reported nearly 40% growth
Read MoreLIC continues to be the dominant life insurer with a market share of 75.90 per cent in policies and 68.74 per cent in first-year premium, it said in a statement on Thursday.
Read MoreThere is a saying – “Don’t put all your eggs in one basket”. Similarly, in your investments too there is a need for diversification through investment in different product categories.
Read MoreThe study is based on 351 companies' data from Capitaline Plus, where LIC held over 1 percentage point stake in the June quarter. These companies accounted 72% of total m-cap of BSE-listed companies
Read MoreMUMBAI: Life Insurance Corporation (LIC) of India has said that it has settled 561 death claims due to COVID-19 amounting to Rs 26.7 crore. The corporation has also relaxed its norms during the lockdown to allow payment on maturity claims based on email submission of survival benefit requirements and subject to conditions is settling such claims without the policy document.
Read MoreThis is the third extension given by the government for taxpayers to file both original and revised tax returns for 2018-19 fiscal.
Read MoreWhile choosing an insurance policy, there are more things to look at instead of just the premium of the policy.
Read MoreWhile in some cases all the house property may remain self-occupied, in others, the second house property may be given to someone on rent. Here's how you can claim tax benefits on second house.
Read MoreThe Finance Act 2020 has shifted back to the classical system of taxing dividend in the hands of shareholders/unit holders from 01 April 2020, and abolished dividend distribution tax (DDT), wherein the incidence was on the company.
Read MoreIf you have already availed the home loan, you can always go ahead and refinance your loan at a lower interest rate, from other banks or housing finance companies.
Read MoreOnly banks are mandated to offer loans based on an external benchmark rate (EBR) or loans linked to MCLR.
Read MoreThe New Form 26AS would help the honest taxpayers with updated financial transactions while filing their returns, whereas it will desist those taxpayers who inadvertently conceal financial transactions in their returns.
Read MoreEveryone wants to become a crorepati and win lakhs and crores of prize money on TV game shows like KBC. However, have you ever wondered whether that prize money is tax-free or one has to pay some tax on that?
Read MoreNormally, the due date for completion of filing Income Tax Return (ITR) is July 31 of the relevant Assessment Year (AY) for the assessees, whose income needn't be audited.
Read MoreWhile filing ITR, there are some common mistakes that you must avoid at all costs. Here are some of the mistakes that can result in getting an income tax notice.
Read MoreIt is not just financial literacy but also behavioural skills that are common to investors who grow their wealth consistently. Here are some habits to emulate.
Read MoreFixed deposits are the most preferred savings instrument of Indians Here are the latest interest rates on fixed deposits of less than ₹2 crore offered by SBI, PNB, BoB and HDFC Bank
Read MoreThe situation is particularly alarming for senior citizens as their hard earned retirement corpus would be eaten up by high inflation and taxes.
Read MoreLIC's Jeevan Shanti plan can be purchased by paying a single premium of a minimum Rs 1.5 lakh. There is no upper limit for the premium.
Read MoreChennai/Delhi: Madhusudan’s apartment in Velacherry, a southern suburb in Chennai was sold for Rs 88 lakh, when a similar sized one in another block inside the same complex was picked up for Rs 1.10 crore last November. Prices of resale properties across the country are down 10% to 25% as cash strapped owners, most of whom had picked up their second apartment as an investment, try and liquidate.
Read MoreWhile a loan applicant can do very little on the income, job and employer fronts, he can certainly take some steps on the credit score and EMI affordability fronts to improve his loan eligibility.
Read MoreWhat if you are able to ride through the economic recession without making a reduction in your family’s standards of living, your children’s higher education or your life goals? All of this is actually possible with the power of Passive Income.
Read MoreThe Supreme Court and consumer courts have repeatedly ruled that homebuyers cannot wait indefinitely, but it has not been clarified when compensation can be claimed in the event of a delay.
Read MoreThe RLLR regime has ensured that the benefits of rate cuts are compulsorily passed on to the borrowers.
Read MoreSenior Citizens between 60 and 80 years of age and Very Senior Citizens above the age of 80 years enjoy additional tax benefits compared to those available to individuals below the age of 60 years.
Read MoreThe mistakes in using credit cards can be costly and can even end up making you fall in a debt trap.
Read MoreThe choice between gold loan and personal loan will primarily depend on the borrower’s needs and profile.
Read MoreData available with Ace equity showed LIC betted on at least 25 penny stocks.
Read MoreAs of December quarter there were more than 350 stocks on the LIC's radar and in March quarter, it held stake in 326 stocks.
Read MoreLIC Jeevan Labh policy can be purchased any individual in the age group of 8-59 years if the policy term is for 16 years.
Read MoreThe government had announced some relief measures in relation to payment of taxes during the lockdown period. One such relief is reducing the interest liability on tax payments falling due between March 20 and June 29, but paid by June 30, 2020.
Read MoreIn view of the lockdown and restrictions due to the COVID 19 pandemic, the Government of India has recently announced certain relaxations on the timelines relating to statutory compliance matters.
Read MoreThe Concessional Tax Rate regime permits the CBDT to notify the allowances which shall continue to be exempt in the hands of the salaried taxpayers opting for CTR.
Read MoreIt’s very important to remember that continued precautions against COVID-19 are necessary at all workplaces since the pandemic is nowhere close to being over yet.
Read MoreHealth policy that addresses covid-related costs shouldn’t come at the cost of regular plans
Read MoreBefore you actually sit down to file your income tax return (ITR) for FY2019-20 or AY 2020-21, there are certain tasks which you need to complete beforehand.
Read MoreNational Insurance Awareness Day 2020: In the wake of COVID-19 outbreak, insurance has become one of the most important financial tools to have for the worst times
Read MoreUniversalising life insurance can help citizens in case of a financial crisis, whether at individual or national level, during their lifetime as well as after death
Read MoreTo list LIC as a corporation, the government will have to make amendments in the LIC Act. The government guarantee is the biggest differentiator for LIC, and something that has given the behemoth an edge over its private sector rivals
Read MoreIn a bid to mitigate the hardship of individual taxpayers and businesses in times of the Covid-19 pandemic, the government has made some changes in the income tax compliance requirements.
Read MoreThe extension has been done to provide further relief to the taxpayer individuals
Read MoreWhen filing Income Tax Return (for FY 2020-21), you have to calculate tax by adding up income from all sources and subtracting deductions under Section 80C/ 80D/ standard deduction, etc.
Read MoreHow much term life insurance do I need? remains the most common question of almost every person who plans to buy a term life insurance policy
Read MoreAmid the worldwide COVID-19 crisis, many non-resident Indians (NRIs) lost their jobs. Especially those engaged in the service sectors like hospitality, travel or other client-facing businesses have seen pay cuts and layoffs in India as well. News reports suggest that many of these non-resident Indians (NRIs) had decided to move to India for good.
Read MoreShort-term deposit rates are now very close to or even less than what savings accounts offer.
Read MoreFinancial loss is a real issue in situations like the COVID-19 pandemic when one doesn’t know treatment costs and whether the government will pay or not.
Read MoreFloods during monsoon can damage assets such as homes, manufacturing establishments, factories, shops and offices. A comprehensive insurance cover can help in such a situation
Read MoreWhile opting for a home insurance plan, it is advisable to check what natural disasters will be covered
Read MoreSince April 2016, the government has been revising interest rates PPF account on a quarterly basis. Prior to that, PPF interest rates were revised once a year
Read MoreIf you are someone who is considering getting insurance now, here are some key factors that decide your health insurance premium
Read MoreChapter VI A of Income Tax Act contains various sub-sections of section 80 that allows an assessee to claim deductions from the gross total income.
Read MoreLIC’s term products launched last year, with lower premiums, could be the cheapest ones available in the market
Read MoreSalary and job cuts have taught families to curtail unnecessary expenses and save more aggressively One of the major realizations people have had is that how little they need and how much they want
Read MoreThe Insurance Regulatory and Development Authority of India (Irdai) has ruled that health insurers cannot contest claims by clients who have persisted with their policies for eight years in a row, citing non-disclosure.
Read MoreBuying a health insurance plan for yourself or your family has become absolutely necessary given the increasing costs of quality healthcare in India. Here's what you absolutely must know before buying one
Read MoreA Non-Resident Ordinary (NRO) savings account is where you can maintain and manage your income earned in India such as rent, dividends, pension etc.
Read MoreReviewing your credit report not only helps keeping a check on your credit score, it would also give you sufficient time to take corrective measures and rectify errors, if required.
Read MoreHousehold financial savings, which form a bulk of overall savings in the Indian economy, increased in 2019-20 after falling the previous year
Read MoreInsurers are asking for covid-19-based disclosures at the time of buying insurance, especially term plans The number and kind of questions pertaining to covid-19 symptoms can differ among various insurers
Read MoreThe notified income tax return forms enable taxpayers to claim tax deductions for tax-saving investments, payments, donations and investments for capital gains exemption, made during the extended period until 30 June 2020.
Read MoreThe CBDT circular provides relief to those stranded in India during FY 2019-20. CBDT has also tweeted that another circular for FY 2020-21 will be issued once the travel ban is lifted.
Read MoreMany Indians are using gold to secure loans, bankers and industry experts say, as banks are otherwise increasingly unwilling to lend during the coronavirus pandemic due to fear of the loan souring.
Read MoreThe company has gained a market share of around 5 percent in the highly competitive biscuit segment, helped by Parle-G biscuits, which was proffered by the people while stocking pantry during the pandemic.
Read MoreThe transmission of low interest rates has been quicker in the case of Repo-Linked Lending Rates than Marginal Cost-of Lending Rate or a Base Lending Rate home loan.
Read MoreLoans against insurance policies are generally offered against selected traditional or endowment life insurance policies that have a surrender value. Note that, there is a waiting period of 3 years for policies to be eligible for loans.
Read MoreThe taxpayers who owe no GST tax to the government till now had to log onto the GST tax portal and file their tax returns but now the same facility could be availed by sending a simple text message.
Read MoreIDBI Bank on 30 May reported a net profit of Rs135 crore in the quarter ended March as against a loss of Rs4,918 crore for Q4FY19. However, for FY20, it’s net loss stood at ₹12,887 crore against a loss of ₹15,116 crore in FY19
Read MoreLoan defaults are bad news for people who have stood as guarantors to loans taken by friends and relatives. Most people know that a guarantor is liable to pay if the borrower defaults on the loan repayment. There are other risks that the guarantor is exposed to.
Read MorePolicymakers are worried that the number of Covid claims is only 8,500 with a claim amount of Rs 135 cr.
Read MoreCommerce & Industry Minister Piyush Goyal has advised builders to sell projects at reduced prices to clear unsold inventory. However, is it possible for developers to do that?
Read MoreThe government has extended various financial deadlines from March 31, 2020, to June 30, 2020.
Read MoreIn the absence of proof, it may not be possible to get moratorium for April 2020. However for availing the moratorium for May to August 2020, drop an email on hello@clix.capital.
Read MoreThe policyholders can send the maturity claims and survival benefit requirements by email. The mail should be sent to the servicing branch. Make sure that the mail ID is used only for sending the claim requirements and not for any other purpose.
Read MoreWhile the ongoing lockdown is likely to impact your loan processing and disbursal due to limited staff and working hours, keeping in mind these five tips will certainly boost your loan approval chances.
Read MoreGetting stuck in a credit card debt spiral not only ruins one's budget but also eats into all of their future income until it’s cleared. Hence, credit cardholders should understand that and avoid extensive use of their cards
Read MoreAs the Financial Year (FY) 2019-20 ended in the midst of the nationwide lockdown to contain the spread of COVID-19, many taxpayers faced hardship in making last minute tax-saving investments.
Read MoreOther banks offer higher interest rates — HDFC Bank pays 5.6% and both ICICI Bank and Bank of Baroda pay 5.55% for the same product.
Read MoreThe RBI bonds are attractive as they are currently offering a higher interest rate as compared to bank fixed deposits and other financial instruments offering an equal degree of safety.
Read MoreThe revamped Form 26AS will now come into effect from June 1, the Central Board of Direct Taxes (CBDT) said.
Read MoreSBI Latest FD Rates: The new rates of interest will apply to fresh deposits and renewals of maturing deposits.
Read MorePeople facing job loss or salary cuts may be in financial distress and need funds urgently to meet their day-to-day expenses.
Read MorePolicyholders should take all possible steps to avert further damage. As insurance companies do not allow policyholders to make a profit out of a claim, therefore, any exaggeration of a claim will not be entertained.
Read MoreIn the Modified PMVVY, the interest rate will keep varying depending on the financial year in which the investment is made.
Read MorePradhan Mantri Vaya Vandana Yojana (PMVVY) is a pension plan available with LIC for senior citizens Under the plan, the maximum pension amount is limited to ₹10,000 per month
Read MoreEPF calculation: In the CTC salary model, take-home pay goes up by 4% of wages before tax, but for others hike in take-home is at the cost of reduced total salary.
Read MoreHome, Personal Loan EMI Moratorium: With the hardship continuing due to the ongoing lockdown, the RBI has extended the moratorium of term loans by a further three months till August 31, 2020.
Read MoreBelieve it or not but there are insurance policies which can help substitute your income in case of contingencies. Let’s understand the different types of insurance plans which help cover the loss of income in this pandemic
Read MoreBefore finalising your home-buying plans in the shadow of the Covid-19 crisis, you should take a moment to first understand how the pandemic is impacting the real estate sector.
Read MoreRBI Governor Shaktikanta Das announced a cut in the repo rate by 40 basis points (bps) to 4 per cent,
Read MoreThe earlier deadline of three-month EMI moratorium was ending at May 31, 2020
Read MoreHere is how the new RBI steps will impact the common man including borrowers, depositors and businessmen.
Read MoreInitially an assured rate of return of 7.40 % per annum for the year 2020-21 per annum will be provided and thereafter to be reset every year.
Read More“With this recent pandemic outbreak, the real estate sector is likely to be handicapped in the short term, impacting over 250 related industries and economic sectors."
Read MoreIt joins Japan, Germany and some other European countries in selling debt yielding less than 0 percent, reflecting the prospect the coronavirus pandemic will cause a severe global recession and bond-buying by central banks to mitigate its impact.
Read MoreIRDAI forthcoming decision will also include continuation of cover, Standard Fire and Special Perils Policy(commonly known as property policy)- by the general insurers to the ``unoccupied properties’’.for more than one month
Read MorePost-COVID-19, the environment could be different and as a young and salaried buyer, one needs to keep following them for the opportune time.
Read MoreSenior citizens need to check the rules for waiting period for cover of existing diseases and co-payment charges when selecting a health insurance plan.
Read MoreUnlike fixed deposits, perpetual bonds have no guarantee even though they are issued by banks. Some of the perpetual bonds (such as AT1 bonds) are explicitly issued as 'risk absorbing' instruments.
Read MoreIt will not be mandatory for businesses now to pay wages to their workers during the lockdown. The Home Ministry’s guidelines for the fourth phase of lockdown starting Monday has withdrawn the order for such an action.
Read MoreThe move comes at a time when restaurants across the country have been severely impacted due to the country-wide lockdown announced to contain the spread of covid-19, and worked on limited capacity to fulfill delivery-only orders
Read MoreCurrently, an employee contributes 12% of his salary to the EPF account. The employer matches the contribution.
Read MoreNEW DELHI: Finance minister Nirmala Sitharaman on Wednesday announced a 25 per cent reduction in TDS (tax deducted at sources) and TCS (tax collected at source) rate for the current financial year. This will release liquidity worth Rs 50,000 crore.
Read MoreAs per the announcement, "Due date for all income-tax return for FY 2019-20 will be extended from July 31 2020 and 31 October 31, 2020 to November 30, 2020 and tax audit from Sept ember 30, 2020 to 31st October 2020."
Read MoreIndustry body Nasscom is reviewing labour laws from WFH perspective and will submit a report next week.
Read MoreGiven below are five reasons why your EPF withdrawal claim can get rejected by the EPFO and what you should do to avoid the rejection of a claim.
Read MoreLong-term health insurance is undoubtedly the most economical and viable health and practical choice, given the increase in lifestyle diseases in current times.
Read MoreAs a salaried employee, go for non-refundable advance from EPF or take loan against your PPF account. You can also take a loan against your life insurance policy to tide over these difficult times
Read More"During this period of volatility in other asset classes, a large number of PPB bank account holders are moving their savings into fixed deposits during the ongoing lockdown," stated Paytm Payments Bank.
Read MoreBENGALURU: The Covid-19 pandemic has dramatically changed what Indians are searching for on Google. Online searches for grocery delivery, immunity, online classes, UPI transactions, and even coronavirus insurance have gone up dramatically this year, according to Google’s latest ‘What is India searching for’ report.
Read MoreTimes may seem bleak, but this too shall pass, and when it does, we will need to get ready for life to return to normalcy. Part of this normalcy will be finances, and for life to move on, it's crucial to make sure savings have not been eaten away through avoidable medical expenses.
Read MoreRent payment is one of the biggest monthly expenditures, especially for youngsters living away from parental homes. In the case of credit cards, accrual of interest gets tricky.
Read MoreTax will be deducted from the dividend at the time of payment by the company/mutual fund house if the total amount of dividend being paid to the individual during the financial year is more than Rs 5,000 at the rate of 10%.
Read MoreThe central government had announced in March that the JEE and NEET entrance exams would be postponed to the last week of May keeping in mind the nationwide lockdown.
Read MoreMUMBAI: Not only did a Santa Cruz resident lose his 74-year-old father to Covid-19-related complications, but he was also left with a bill of Rs 16 lakh for his father’s 15-day ICU stay in a city hospital.
Read MoreRBI reasoned that the financial position of the bank is highly adverse and unsustainable. There is no concrete revival plan or proposal for merger with another bank. Credible commitment towards revival from the management is not visible, observed the central bank.
Read MoreThe extension will see some relaxations which will be regulated based on the spread of the virus in districts
Read MoreIn times like the current one, when even getting out of one's home and meeting people are considered risky, there should be no excuse for not having adequate life and health cover if one can afford it.
Read MoreAt a time when the whole world is dealing with the COVID-19 crisis, fraudsters are coming up with new ways to steal money as well as data from users.
Read MoreAdditionally, LIC settled 20.3 million maturity and money back claims and annuities over the financial year, it said while settling 750,000 death claims in this period.
Read MoreState-owned Life Insurance Corporation of India said it has achieved highest number of policies for the last six years in 2019-20. In a round-up of its performance for the last fiscal, LIC said it registered a growth of 25.17 per cent in first-year new business premium when compared to private players who collectively achieved a premium growth rate of 11.64 per cent.
Read MoreTempleton has wound up $4.1 billion of debt funds after a liquidity crisis.
Read MoreWe are all in this together, so the ideal way is to stay transparent with your consumers about what your business is going through. Customers can empathize with companies facing a crisis, as long as the communication is transparent.
Read MoreThe decision is restricted to six funds which, the company said, have material direct exposure to the higher-yielding, lower-rated credit securities in India that have been most impacted by the ongoing liquidity crisis in the market.
Read MoreOut of box situations do demand out of Court settlement-mediation, conciliation and negotiation- as Courts have their own limitations, we must be conscious of.
Read MoreTotal 78,000 homes or around 12% of total unsold residential inventory across top seven property markets in India as on March end are ready to move in apartments.
Read MoreThe IRDAI states that the premium installment facility may be offered either as a permanent feature or may be offered as a temporary relief for a period of 12 months.
Read MoreInsurance as a primary ingredient in a holistic and well-rounded financial portfolio is going to be the most immediate demand of a post-Covid developing world.
Read MoreThe income tax department said that an employee can change the option of tax structure at the time of filing income tax return TDS will get adjusted accordingly
Read MoreDas also said RBI will begin with giving an additional Rs 50,000 crore through targeted long-term repo operation (TLTRO) to be undertaken in tranches.
Read MoreBanks classify accounts as standard, substandard and doubtful, based on the number of days their payments are delayed Borrowers turn non-performing only after 90 days of overdue and are classified as standard prior to that, notwithstanding any delay in repayments
Read MoreA rebound in global equity markets put pressure on gold prices Gold prices had hit new highs in India this week
Read MoreHydroxychloroquine has been identified as a possible treatment for the COVID-19 and it is being tested on more than 1,500 patients in New Yory.
Read MoreHe said it was an excellent buying opportunity for potential homebuyers with job security and savings.
Read MoreAs per the chartered accountants, the deadline for employers to issue the TDS certificate i.e. Form 16 for FY2019-20 to employees has been extended to June 30, 2020, via the ordinance dated March 31, 2020.
Read MoreIn addition to Pichai and Nadella, the president has named IBM's Arvind Krishna and Micron's Sanjay Mehrotra to the Tech Group.
Read MoreAdopting these 5 ways can help manage your credit card dues, without incurring hefty finance charges.
Read MoreChennai: Rising trade war between US & China has pushed South Korean companies to consider moving some of their factories from China to India.
Read MoreThe Government has proposed to widen the scope and reduce the threshold of various transactions to further include even white good purchases, property tax payment, medical and life insurance premium and even hotel payments.
Read MoreThere has been an increase in the use of online tools and apps which brings with it a heightened risk of Cyber fraud.
Read MoreAs per the directions of IRDAI, insurers have even introduced Coronavirus-specific health insurance products that provide dedicated coverage against the deadly virus.
Read MoreThe clause of force majeure will not apply in case of Covid-19 death claims, Life Insurance Council said earlier this month LIC has announced an extension of 30 days for payment of premium
Read MoreA total of 16 death claims related to covid-19 processed till date, LIC said. All coronavirus deaths to be treated at par with other diseases for claim settlement. The insurer announced that it has announced five plans available online which customers can purchase from home during the lockdown.
Read MoreNo decision has been made on when passenger train services will be resumed on the Indian Railways network.
Read MoreFrom an individual tax perspective, most of the proposals of the Finance Bill, 2020 have been incorporated in the Act with /without modifications.
Read MoreThe government has recently amended the EPF withdrawal rules which allow an EPF member to withdraw money in case of emergency due to COVID-19.
Read MoreAsking customers to protect their financial details, Axis Bank said in an e-mail to customers said fraudsters have started a new modus operandi to gain access to banking details. Imposters may contact you to help postpone your EMI payments and request you to share OTP, CVV, password or PIN related to your banking accounts.
Read MoreLONDON: The 2020 edition of the Wimbledon had to be cancelled due to the outbreak of the coronavirus, but The All England Club is set to pocket over £100 million due to the insertion of a virus-related clause in the insurance policy post the SARS outbreak.
Read MoreThe government has decided to provide immediate tax relief to about 1 lakh businesses and 14 lakh taxpayers.
Read MoreAll person must wear a three-ply mask or a cloth mask in public places, said Praveen Pardeshi, Mumbai Municipal Commissioner The number of coronavirus patients in Maharashtra climbed to 1,078
Read MoreThe IPO is a time-consuming thing, which is going to be there, says Vipin Anand.
Read MoreIt is not necessary that everyone can avoid contracting this disease. This is where a health insurance policy can help you even in the current times.
Read MoreAt the stage of the passing of the Bill, the amendments originally proposed in the criteria determining 'residential status' in India of a person in the Finance Bill 2020 were relaxed. This change will directly impact the non-resident Indian.
Read MoreThis is SBI's eleventh consecutive cut in MCLR in FY 2019-20. Consequently, EMIs on eligible home loan accounts (linked to MCLR) will get cheaper by around Rs. 24.00 per 1 lakh on a 30-year loan.
Read MoreAttrition has a significant financial implication, hence, SMEs should strive to keep their important people in place during these times. Benefits and incentives can be structured based upon the period of service to increase employee stickiness.
Read MoreThis is the largest ever health sector support from the Bank to India.
Read MoreBENGALURU: In a major relief for 23 crore individual vehicle owners and 40 crore citizens, who benefit from a private or state health insurance scheme, the ministry of finance has amended the law and extended validity of insurance papers till April 21, 2020.
Read MoreExperts believe that the mutual fund industry is already seeing redemption pressures.
Read MoreThe loan deferment is a welcome move for the borrowers who are facing any cash flow mismatch on account of the recent outbreak of Covid-19.
Read MoreNEW DELHI: Hit by the lockdown and faced with uncertainty, many people are looking to avail of the repayment relief that banks are offering. Although banks are yet to announce the details of the relief package and how it will work out, we do know that this is only a grace period and they are likely to charge interest for the unpaid amount.
Read MoreGovt cuts small savings interest rates for April-June by 70-140 bps The Public Provident Fund will now fetch 7.1% returns, after an 80 bps cut in its interest rate
Read MoreThe new interest rates for small savings schemes will remain in effect for the first quarter of financial year 2020-21, that is from April 1, 2020 to June 30, 2020
Read MoreThe PM-CARES Fund was set up on March 28 to raise money to deal with any COVID-19 like emergency situation and provide relief to the affected.
Read MoreDear Policyholders, we are committed to your safety and wellbeing. The whole nation is fighting Corona Virus COVID-19. Under these challenging circumstances, team LIC assures you that we are doing our best to ensure that critical policy services remain unaffected and you get your due payments on time.
Read MoreRBI has allowed lending institutions to offer a moratorium on loan repayments.
Read MoreA notification issued by the Government of India on 30th March 2020 with respect to some other amendments done in the Indian Stamp Act is being misquoted, the government said
Read MoreThe 2020 Olympics have been postponed amid the global coronavirus pandemic that has brought nearly all sport to a halt worldwide.
Read MoreGovernment could revise interest rates on small savings scheme by a token 25-30 basis points across products SBI pays interest of 5.9% across its FDs between one and 10 years
Read MoreAfter today's rate cut, it remains to be seen how much impact with the recent rate cuts, it will have on the home loan and other borrowers.
Read MoreThe credit history of the borrower will not be impacted The RBI today cut repo rate by 75 basis points and also cut cash reserve ratio by 100 basis points
Read MoreThe rate cut was warranted by disruptive force of coronavirus, the central bank said.
Read MoreRBI has made a one-time exception in view of the financial distress arising out of the global pandemic coronavirus and the economic havoc wreaked by the lockdown imposed to control its spread.
Read MoreWhat happens to your EMI burden? Which kinds of loans will the moratorium apply to? What about the interest component? Read on
Read MoreThe FM announced a slew of measures to ease the burden on the poor who will be hit hard by the lockdown.
Read MoreThis will be applicable for establishments with up to 100 employees, where 90% of employees drawing less than Rs 15,000 salary. Benefiting 4.8 crore employees the govt also amended EPFO regulations to allow workers under EPFO to draw up to 75% of their non-refundable advance or 3 months of wages, whichever is lower.
Read MoreThe Finance Minister Nirmala Sitharaman in a press conference has announced that the last date for filing tax returns has been extended.
Read MorePAN-Aadhaar Link Deadline: The last date for PAN-Aadhaar linking has been extended
Read MoreThe FM announced that the Economic Task Force will soon announce an economic relief package.
Read MoreFirms which have less than Rs 5 crore turnover will not have to pay interest, late fee or fine.
Read MoreGovt has decided to tax only the income generated by NRIs from the biz in India, leaving their global incomes.
Read MoreTOKYO: The 2020 Tokyo Olympics have been postponed to no later than the summer of 2021 because of the coronavirus pandemic sweeping the globe, the International Olympic Committee announced Tuesday.
Read MoreFollowing the day long 'Janta Curfew' on March 22 to ensure that people maintain social distancing, many states have announced lock down till March 31, 2020.
Read MoreTreatment expenses can be reimbursed by insurer or customer can opt for cashless facility
Read MoreThe Indian Banks' Association (IBA) has announced that effective Monday banks will undertake only essential services like cash deposit and withdrawal, cheque clearances, remittances and government transactions.
Read MoreThe banks have started sending awareness messages to avoid visiting public places and the use of currency notes.
Read MoreWith the rising cases of coronavirus in the country, several banks have revised their banking times and have suspended non-essential services.
Read MoreS&P BSE Sensex recorded its worst ever single day fall after closing down by 3,934 points or 13.15 per cent. Earlier on March 12, Sensex crashed 2,912 points to record its worst single-day fall.
Read MoreOf the 12 approved labs, five are in Maharashtra, two each in Haryana and Tamil Nadu, and one each in Delhi, Gujarat and Karnataka.
Read More"In view of prevailing extraordinary circumstances in the country on account of Covid-19, LIC will give relaxation to its policyholders in payment of premiums due on inforce policies up to April 15, 2020, wherever customers are unable to deposit online or otherwise," the life insurer said in a statement.
Read MoreOn Tuesday RBI had done the first tranche of OMO following the tightness in the commercial paper market RBI governor Shaktikanta Das said the central bank was ready to act and the rate cut decision will be taken by the monetary policy committee (MPC)
Read MoreCoronavirus can sicken or kill young people as well, the World Health Organization said Today I have a message for young people: 'You are not invincible, this virus could put you in hospital for weeks or even kill you,' WHO Director-General said
Read MoreThe central bank had last imposed regulatory regulations on PMC for six months on September 23, 2019 citing various irregularities, hiding and misreporting of loans given to real estate developer HDIL.
Read MoreThe Reserve Bank of India (RBI) on March 5 had imposed restrictions on the crisis-ridden lender under which the bank's customers were allowed to withdraw up to Rs 50,000 till April 3.
Read MoreKeeping large amount of cash at home is not only a security hazard, but the money locked in lockers also lose their purchasing power over time due to inflation.
Read MoreLIC says it will cross its 25 million policy sales target well before March 31. The Coronavirus outbreak and subsequent slowdown has led to uncertainty among Indian companies about their ability to meet sales targets for FY20.
Read MoreFed said it could increase bond-buying and use other tools to support market functioning.
Read MoreThe term insurance market in general has seen the premiums going down in the past few years due to competition
Read MoreMarket sentiment further deteriorated after the number of coronavirus cases in the country rose.
Read MoreAnalysts were expecting the stock to list at around Rs 780-800 a piece.
Read Moreअगर आपने कोई इंश्योरेंस पॉलिसी (Insurance Policy) ली है तो स्वाभाविक है प्रीमियम (Premium) भी जमा करते हैं. लेकिन क्या आप इसे समय पर जमा करते हैं? हां, कई बार ऐसा होता है कि कुछ खास वजहों से लोग समय पर प्रीमियम नहीं चुका पाते हैं. नतीजा यह होता है कि उनकी बीमा पॉलिसी लैप्स हो जाती है. तब इसका नुकसान भी उठाना होता है. एक तो आपको पेनाल्टी भी देनी होगी और दूसरा क्लेम के समय भी परेशानी आ सकती है.
Read MoreA combination of provident fund, super-annuation schemes and NPS can offer limited pension only. Individual pension plans of life insurance companies can help fill up the gap
Read MoreIncome Tax return (ITR) filing: Investment is essential to growing wealth with time, and one must focus on both short and long-term financial goals to secure one’s financial future.
Read MoreThe government official sees scope for a 50 bps repo rate cut
Read MoreSBI said the new FD rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits SBI today also cut its marginal cost of fund-based lending rate (MCLR) by up to 15 basis points
Read MoreThe total number of policies sold in the year 2018-19 stands at 2.86 crore, with a first-year premium (FYP) of 97,690 crore. Out of the number of policies sold, women accounted for 1.03 crore policies in FY 2018-19 (90 lacs in previous fiscal) with an FYP of Rs 36,525 crore in FY 2018-19 (29,801 crore).
Read MoreLife Insurance Corporation's (LIC) pension scheme 'Pradhan Mantri Vaya Vandana Yojana' (PMVVY) is an ideal plan for senior citizens, said LIC's former Development Officer. Proper monetary planning for retirement can benefit you a long way in twilight years as old age comes with a number of problems.
Read MoreA small portion of the estimated ₹10,000 crore AT1 bonds issued by the bank are also held by individual investors Many of the investors are guilty of believing that the bonds are as safe as FDs and will give better returns
Read MoreInvestors can exit their mutual funds that had Yes Bank bonds, but they may have to do so at a loss
Read MoreThe oil price crash is largely negative for India despite it depending heavily on imports
Read MoreCheck with your health insurer if it’ll cover Covid-19 when it’s declared a pandemic Insurers are mandated to cover hospitalization as well as quarantine expenses related to coronavirus
Read MoreHere are a few steps that the urban woman should take to be in charge of her money and achieve financial independence.
Read MoreOn International Women's Day, if you or your friends are getting ready to start their family and have kids – there's a helping hand from health insurance policies in India.
Read MoreThe guidelines were issued after the number of confirmed cases of Covid-19 rose to 39 in India The Health Ministry appealed to the people to observe the dos and don’ts, coughing etiquettes, hand-washing and avoid large gatherings
Read MoreLoans and insurance products are priced differently for women based on the risk perception in terms of life expectancy and health parameters Longer life expectancy brings down life cover premium, but adds to the cost of health insurance
Read MoreThe recent cryptocurrency ruling has paved way for investors amid a tense stock market, but it’s important to keep these points in mind before doing so.
Read MoreSome insurance companies are also offering discounts based on the profession of the insured (viz: doctors, teachers, lawyers etc). But beware of car insurance firms who claim to offer 'free' insurance - this is usually free only for the first year and cannot be customized.
Read MoreRBI has superseded the Board of Directors of Yes Bank and imposed a ban on withdrawals and advances Those who have their salary account with the bank are likely to face maximum problems.
Read MoreOwnership of life insurance by Indian women residing in urban areas witnessed a sharp increase, reveals a recent study. In a 12-month survey that ended in January 2020, life insurance ownership witnessed 8 per cent increase up to 67 per cent. Comparatively, life insurance ownership by men witnessed 3 per cent increase up to 71 per cent, during the same period.
Read MoreEven as awareness for insurance has increased in the country over the last one year, urban India continues to feel financially insecure, according to a survey. Max Life Insurance Company (Max Life) on Wednesday unveiled the findings of the second edition of its flagship survey 'Max Life India Protection Quotient' 2.0 in association with KANTAR.
Read MoreThe bank will not be allowed to pay depositors a sum exceeding Rs.50,000/- lying to his credit, in any savings, current or any other deposit account, the government said in a notification.
Read MoreEPFO subscribers will get the lowest interest rate in over five years for the current financial year (2019-20) EPFO had given 8.65% interest rate on provident fund deposits for the previous financial year 2018-19
Read MoreThe costs of hospitalisation including the treatment during the quarantine period have to be settled by insurers as per the terms and conditions of the policy.
Read MoreThe vote for the emergency cut to a range of 1% to 1.25% was unanimous.
Read MoreThe 10-year US Treasury yield, which is taken as the notional "risk-free" benchmark rate for financial transactions across the world, dropped below 1% for the first time on Tuesday. This came after Federal Reserve slashed interest rate by 50 bps in an emergency move to limit the coronavirus impact. The benchmark 10-year Indian bond yield dropped 8 bps to 6.26%.
Read MoreContributions to retirement benefit schemes like EPF, Superannuation Fund, NPS etc not only help in building a retirement corpus, but also provide tax benefits.
Read MoreThe Budget 2020 proposes to amend section 115A of the Act to extend the benefit of not filing return of income to non-residents whose total income includes income by way of royalty or Fees for Technical Services (FTS).
Read MoreWhen porting your health cover, you are allowed to carry forward the waiting period for pre-existing diseases and maternity already associated with the previous insurer
Read MoreAs the jewellery has been held for more than three years, this will be long-term capital gains so the sale proceeds shall have to be reduced by indexed cost of acquisition, to arrive at capital gain, which shall be taxed at the rate of 20%.
Read MoreInflation, which had kept the RBI from cutting interest rates since Dec, is expected to moderate, Shaktikanta Das said The RBI cut interest rates 5 times last year to support an economy headed for its weakest expansion in 11 years
Read MoreTo avoid misuse of information by miscreants, users are requested not to share their booking and cancellations details on social media platforms.
Read MoreAn individual having an inoperative PAN may face trouble in several financial transactions.
Read MoreGold investment risks and options in India: Being the second-largest consumer of gold, investing in gold and gold jewellery has always been a favourite option in India, especially among women.
Read MoreEvery day many people still fall prey to such scams and lose a lot of money. These fraudsters take advantage of the ignorance and lack of knowledge of customers on the usage of such new platforms.
Read MoreAsia Pacific markets are falling Friday as fears about the novel coronavirus continue to spur a global sell-off. Japan's Nikkei 225 (N225) fell more than 3% in early trading. South Korea's Kospi (KOSPI) and Australia's S&P/ASX 200 each lost more than 2%. Hong Kong's Hang Seng (HSI) dropped 2.7%, while China's Shanghai Composite (SHCOMP) slid 3.4%.
Read MoreWith the purchase of high-end performance cycles supported with adequate riding gears and accessories for the long-distance route, insurance in this sector is also rising.
Read MoreUS stocks again sold off sharply on Thursday as worries about coronavirus mounted. The S&P 500 posted its worst day since August 18, 2011, and the three main indexes fell into correction territory. Stocks are on track for their worst week since the financial crisis.
Read MoreLife insurance provides insurance cover for many years. The question is, should the requirement of insurance change as times go by?
Read MoreWe all have experienced the usage and importance of PAN (Permanent Account Number) in our practical lives. PAN is an essential document in filing for income tax returns and to undertake any kind of financial transactions. Every PAN card issued and number allotted to individuals is valid for a lifetime.
Read MoreFrom obtaining a No Objection Certificate to getting back all your original documents, make sure you tie up all the loose ends after paying the last EMI on your home loan
Read MoreAny error or incorrect information in your credit report can lead to rejection of your credit application. This makes it imperative to develop the habit of reviewing your credit report periodically.
Read MoreIn the 31st meeting held by the GST council, an introduction to a new GST return system for taxpayers was decided.
Read MorePPF Account: In case of a change in one's residential address, premature PPF account closure is allowed but not before five years of the PPF account.
Read MoreIn the new income tax regime as announced in Budget 2020, there are seven tax slabs Contribution by the employer towards the EPF account of an employee of up to 12% remains tax-free
Read MoreThe new coronavirus epidemic is almost certain to become more deadly as the death toll in China alone crosses 2200 mark. However, does your insurance policy cover you for this deadly virus?
Read MoreAccording to the new change, any disease that a policyholder gets diagnosed with within the first three months of taking a health insurance policy will no longer be considered as a pre-existing disease.
Read MorePradhan Mantri Vaya Vandana Yojana pension scheme, meant for senior citizens, is available only till March 31.
Read MoreNEW DELHI: India emerged as the world's fifth largest economy by overtaking the UK and France in 2019, says a report.
Read MoreIn a falling interest rate scenario, your investments may not fetch the same rate of return thus impacting your regular income needs.
Read MoreFor taxpayers who have an on-going home loan, the interest paid on such loans helpsthem to lower their tax liability in the existing income tax structure. However, under the new income tax regime proposed in Budget 2020, the interest paid on housing loan is not available for deduction for self-occupied houses. But for taxpayers who have rented out their house property, there is good news.
Read MoreGrowth has been driven by LIC's products that were closed and re-launched in February
Read MoreWhile the government divests its stake in LIC, it should also shoulder the responsibility of creating other huge profit-making companies with large market capitalisation, whose reserves can support the Indian economy for key investments and in times of distress as well
Read More"The Life Insurance Corporation of India (LIC) Corporation regularly endeavours to provide a bouquet of life insurance products to cater to the needs of various strata of society."
Read Moreक्रेंद सरकार ने बजट में एक बड़ी घोषणा की है। इसका असर हाई सैलरी वाले कर्मचारियों पर पड़ने वाला है। वित्त मंत्री निर्मला सीतारमण के प्रस्ताव के मुताबिक, तीन निवेश स्कीमें EPF, नैशनल पेंशन स्कीम (NPS) तथा रिटायरमेंट फंड अब टैक्स के दायरे में आ सकते हैं, क्योंकि इसमें निवेश की 7.5 लाख रुपये की अधिकतम सीमा तय कर दी गई है।
Read MoreThe premiums for term insurance products may go up by 15-20 percent from April 1 onwards as reinsurance rates have been revised for these policies. LIC customers, however, may see a lower hike.
Read MoreMUMBAI: With assets under management of Rs 31 lakh crore, Life Insurance Corporation (LIC) continues to expand and plans to hire 17,000 people this year, which will add to the headcount. In an interview with TOI, LIC chairman M R Kumar speaks about the focus areas for the corporation.
Read MoreLife Insurance Corporation (LIC), which is gearing up for its initial public offering (IPO), on Friday said investments made by the corporation in government securities rose to Rs 2.81 lakh crore in the period between April-January 2020, much higher than the target of Rs 2.55 lakh crore. India’s largest insurance company with assets of over
Read MoreLife Insurance Corporation of India (LIC), India’s largest life insurer, continues to better its performance, thereby winning people’s trust by crossing Rs 1.5 lakh crore new business premium first time in its history and maintaining dominant leadership in this sector.
Read MoreAll India LIC Employees Federation this week staged an hour-long walkout strike to protest against the move to sell its stake in the state-run insurer.
Read MoreSection 80CCD: Income Tax Deductions under section 80ccd can be availed for contributions made by an employer to the National Pension Scheme.
Read MoreSays IPO of insurance major will not lead to change in ownership
Read MoreGovernment pensioners are required to submit their life certificate every year in the month of November to ensure that their pension is not stopped. The last date to submit life certificate to the pension disbursing bank is November 30 every year.
Read MoreUnion Budget 2020: What can we expected from the budget this year? Know all about income tax cut, policy changes and investment boost here!
Read MoreNEW DELHI: Vehicle owners will now receive messages from the transport department if their vehicle doesn’t have third party insurance or the policy has expired.
Read MoreToday, many of you might be looking at retirement from a different perspective. Gone are the days when Indians preferred sitting back at home to relax after retirement. As a new-age retiree, you might aim to achieve to fulfil your life goals such as traveling, pursuing new sports activities, and so on.
Read MoreSection 80C is at the core of tax-savings for all categories of individuals. Whether the individual is a government employee, privately employed or for that matter working in an NGO, use the section 80C basket to save on tax.
Read MoreCrosses last fiscal’s figure with 67 days to spare this year
Read MoreCHENNAI: Friend Assurance feature proposed by health insurance companies will now allow both friends and families to buy a health insurance policy, besides a discount awarded to the healthiest group.
Read MoreAll general and health insurance companies may offer a Standard Health Insurance Product even before April 1, 2020.
Read MorePMVVY 2019, PMVVY calculator, PMVVY Calculator, PMVVY details, pradhan mantri vaya vandana yojana (pmvvy) pension scheme, PMVVY how to apply, PMVVY how to invest, register, PMVVY where to buy, PMVVY application form, PMVVY online, PMVVY pension calculator
Read MoreBudget 2020 may ring in massive income tax relief.
Read MoreThe state-owned Life Insurance Corporation of India is about to close two dozen of its insurance plans soon, in which popular plans like LIC New Jeevan Anand, Jeevan Umang, Jeevan Lakshya are also included among others.
Read MoreDeduction under section 80C is a deduction from gross total income which can be claimed for investment in specified avenues, expenditures up till a specified limit. The existing maximum deduction available under this section is Rs 1.5 lakh, set in 2014.
Read MoreIf women start accepting life insurance as an effective savings and protection tool, it can benefit crores of Indian families and the women themselves.
Read MoreIf women start accepting life insurance as an effective savings and protection tool, it can benefit crores of Indian families and the women themselves.
Read MoreAn insurance company’s obligation to pay out is contingent upon whether the premium has been paid
Read MoreIndia has one of the largest Gen Y population of the world. Also referred to as the millennial population which comprises of the people born during the period 1981-1996, their population in India is estimated at 426 million, which is approximately 34 per cent of the total Indian population.
Read MoreAs an NRI, a bunch of questions about life insurance policy must be bouncing in your head. Your brain will appreciate quick answers, so, here we go:
Read MoreData from the LIC Annual Report 2018-19 released last week showed that the income from investments stood at Rs 2,21,573.72 crore at the end of FY19.
Read MoreIt is important to fulfil our overlapping needs and desires at the outset itself as we step into the world of financial freedom along with the ability to earn and chose our lifestyle
Read MoreThe spread of financial literacy has made lay investors savvier than before. But some misplaced beliefs persist.
Read MoreStaff need to submit proof to back-up their investment declarations. These are papers you need to gather.
Read MoreHere are tax breaks you can claim on various incomes and expenditures under different sections of the Income-tax Act, 1961 that can reduce your tax outgo.
Read MoreFor the child, this age is a turning point as he typically leaves home for higher studies and takes baby steps towards independence, financial and otherwise. He becomes to conduct financial transactions and acquire assets.
Read MoreThis is the first time ever any single vertical of the insurer has crossed this record premium income figure, LIC said in a statement.
Read MoreYou may face obstacle in claiming tax deductions on interest payment and principal repayment if home loan is taken in joint names.
Read MoreMost people tend to have a complicated relationship with money. They perennially want more of it but are seldom able to multiply it to the levels that they desire. The average individual has always found financial planning and investing to be a bit of a complicated task.
Read MoreLife Insurance Corporation of India said it has registered a significant increase in market share in the current financial year and that its market share during November 2019 is 84.82% in the number of policies and 71.59% in first-year premium income.
Read MoreIrdai has issued guidelines on standard individual health insurance, asking insurers to cover basic health needs.
Read MoreIndians well settled in a foreign land understand the importance of life insurance to protect the financial needs of their family members.
Read MoreFirstly, start with making a goal - it doesn't have to be a complicated one. Try to make it simple, sorting out your debts and getting rid of them one by one, building an emergency fund, or making a budget for a big expense.
Read MoreBENGALURU: Lakhs of mediclaim customers are expected to be the first casualty of the government-proposed merger of 10 banks as premiums for most of the customers of the banks which are being merged are set to increase between 50% and 300% from next year.
Read MoreWhile purchasing life insurance, policyholders should also look at factors other than claim settlement ratios, such as brand, financial robustness of the insurer, product suitability, governance standards, and superior customer service.
Read MoreThe World Health Organisation (WHO) stated that India had the highest number of diabetics at 50.8 million till 2018 and estimated that the number will reach 73.5 million by 2025.
Read MoreJapan, Germany and India will battle for third position over the next 15 years, according to the CEBR
Read MoreThis is for the first time in LIC's history that Valuation surplus has crossed Rs 50,000 crore, the insurer said in a statement.
Read MoreHealth insurance, apart from saving you from the massive cost of medical expenses in case of an adversity, even helps you enjoy tax rebate.
Read MoreYou can try them at any age and, if you’re lucky, you can start your retirement early.
Read MoreIt is important to revisit old plans for completeness and accuracy
Read MoreNPS TDS Deduction: Annuity payable by the Annuity Service Providers (ASPs) to NRIs and OCIs will be taxed at source in accordance with the rates applicable as per the Double Taxation Avoidance Agreement (DTAA) of the country where they reside.
Read MoreNPS TDS Deduction: Annuity payable by the Annuity Service Providers (ASPs) to NRIs and OCIs will be taxed at source in accordance with the rates applicable as per the Double Taxation Avoidance Agreement (DTAA) of the country where they reside.
Read MoreLife Insurers Registered Premium Growth Of 10.75% In 2018-19 Nirmala Konjengbam - 22 December 2019 Mumbai, December 22: There is a good news for life insurance industry. The 2018-19 annual report released by Insurance regulatory and Development Authority of India (IRDAI) shows the industry registered a double digit growth as opposed to the previous year.
Read MoreIdeally, sum assured should be 12-15 times of your dependent family’s annual expenses
Read MoreGST of 18% is charged on term policies, which are the cheapest form of insurance as they only carry the mortality cost In the case of traditional policies, which bundle insurance and investment, GST is levied at 4.5% on the first-year premium and 2.25% on premiums for subsequent years
Read MoreWhile most provisions are part of the existing rule manual too, the recent notification has introduced a few modifications.
Read MoreFor LIC, the proportion of repudiations has come down to 0.43 per cent in 2018-19 compared to 0.67 per cent in the previous year.
Read MoreIRDAI data showed that women bought 36 percent of the 28.6 million policies sold in FY19
Read MoreThe corporation started the financial year with 74% share in life insurance policies and 66% in first-year premium income.
Read MorePPF withdrawal from account will be allowed any time after the expiry of five years from the end of the year in which the account was opened The new rules has a provision for extension of PPF account with deposits after maturity
Read MoreLife Insurance Corporation of India (LIC) is the only life insurance company in the country to have no pending complaints at the end of March 2019. According to the IRDAI Annual Report, LIC had no pending grievance despite 102,127 complaints being filed in 2018-19.
Read MoreWhen life ends prematurely, hope has another name. Life insurance. The real benefit of life insurance has been clouded by less important objectives like investment returns and tax benefits, especially in India. At its core, life insurance protects against the risk of dying too soon.
Read MoreWithdrawal limits of pension plans are all set to increase The mandatory guarantee on pension Ulip segment will become optional from February 1
Read MoreDo I have enough money to retire? This is the most asked question in retirement planning. When I wrote about the need to take charge in your 40s, friends asked for a method to evaluate whether they have enough. Let’s consider some pointers.
Read MoreEarlier, the Irdai had asked insurers to withdraw products by November 30 and to come up with the revised products from December 1.
Read MoreThe central bank believes that a reduction in rates on the small savings schemes will enable banks to cut deposit rates that have been sticky as banks do not want to lose out on deposits The rates were left unchanged by the government when they were last reviewed at the end of September
Read MoreLastly, the pre-determined withdrawal rates may not work if your savings include high-risk investments, prone to market volatility.
Read MoreLIC yet again beat the industry in the collections with a 44.5 percent YoY growth in new premium to Rs 1.2 lakh crore.
Read MoreThe biggest dilemma for first-time investors has always been the choice between life insurance and health insurance. Which one is more important? What should they choose? Read here.
Read MoreIf you thought debt funds were a bad idea earlier this year, then the DHFL saga in June 2019 would have given you a shock about corporate deposits. If you then consoled yourself saying there are still banks, the PMC Bank episode would have broken that thin confidence left.
Read MoreAre you LIC policy holder and have to pay extra charges during the payment of policy premium? Then from now, you don't have to pay any additional charges on LIC policy premiums. The Life Insurance Corporation or LIC has waived off the convenience fee on all payments, including payment through credit cards.
Read MoreNow, for those who are short of cash, they can opt to pay their Life Insurance Corp. of India (LIC) policy premiums using their credit card. This is especially useful for those last-minute tax-savers who do not have enough money in their bank a/c.
Read MoreNow, for those who are short of cash, they can opt to pay their Life Insurance Corp. of India (LIC) policy premiums using their credit card. This is especially useful for those last-minute tax-savers who do not have enough money in their bank a/c.
Read MoreAt a time of economic slowdown, government-owned insurance group LIC has not only gained market share but has also made getting insured attractive to millennial population.
Read More"If you look at people between 30 and 35 years old another 17 lakh policies. We have sold 44 lakh policies to people below 30 years old, or millennials," says TC Susheel Kumar, Managing Director of Life Insurance Corporation (LIC).
Read MoreThe Corporation said any credit-card originated payments towards renewal premium, new premium, or repayment of loan and interest on loans against the policies will not attract any additional charges or convenience fee its parlance, from December 1.
Read MoreNSE said that the license has been suspended due to non-compliance with Sebi norms This action follows the 22 November Sebi order which had in preliminary findings held that the brokerage firm had misused client securities
Read MoreA cut in the repo rate would be immediately transmitted to retail borrowers as the RBI has forced banks to link loans to an external benchmark instead of a self-determined reference rate Most banks have chosen the RBI’s repo as a benchmark, which means that home loans could fall to below 8%
Read MoreThe 30-share Sensex had gained 1,985 points, or 3.82 per cent, during the period under review, enabling the corporation to post good returns. The market value of LIC’s investment as of end-FY19 stood at around Rs 28.7 lakh crore, growing 8.6 per cent on a year-on-year basis.
Read MoreThe 30-share Sensex had gained 1,985 points, or 3.82 per cent, during the period under review, enabling the corporation to post good returns. The market value of LIC’s investment as of end-FY19 stood at around Rs 28.7 lakh crore, growing 8.6 per cent on a year-on-year basis.
Read MoreIncome Tax Deductions for Individuals: You may be aware of the deductions from gross total income available under Income Tax Act 1961.
Read MoreThe four policies – professional indemnity, personal accident, property and public liability – put together would cost a doctor less than Rs 25,000 annually
Read MoreIf the gift amount is significant, chances are you will end up paying the highest tax rate of 30 per cent on your gift
Read MoreLIC’s market share stood at 78 per cent in number of policies for the month of October 2019, said a senior official.
Read MoreIn the case of jewellery found belonging to any other person, the same can be seized and confiscated Gold receipts can also help you show the source of gold in cases you need to show in your ITR or if there’s a tax scrutiny
Read MoreThe Working Group made various recommendations, after which it has been decided to work on the product design and draw up the proposed policy wordings, including the terms and conditions in plain language, keeping the large motor segment in mind.
Read MoreBe it a child plan, a unit-linked insurance plan or a traditional money-back plan, you can select one that best suits your requirement and goal.
Read MoreComplicated nature of policies, particularly unit-linked products, makes it difficult for consumers to understand the contours. Agents often misrepresent benefits and sell policies least suited. A new beginning is round the corner
Read MoreLife insurers are required to show the details of individual and group death claims ratio on their websites separately. If they are showing a death claim ratio by clubbing the data for individual and group policies, they are violating IRDAI rules.
Read MoreCatering to the needs of millennial life requires a significant amount of disposable income. With corporate CTCs however, what you get is not always what you take home. We look at some tax-saving provisions that will help augment your take-home pay.
Read MoreTips for financial health: Investment decisions and portfolio management is best left to seasoned professionals with proven money management skills.
Read MoreThese companies are from across sectors such as paints, financials, cement, defence & pharma.
Read MoreWhile none of us can predict a recession, it pays to take credible rumors of such to heart, especially if retirement is in your near future. And, yes, a fair number of economists, pundits and other prognosticators say they believe we are headed toward recession within the next couple of years.
Read MoreCar insurance is a highly useful product that will protect your vehicle against damages due to an accident and also mitigate the various costs you will incur like treating your personal injuries and compensating the third party affected. There are a large number of car insurance packages to choose from.
Read MoreLIC New Money Back Plan 20-Years can be purchased by any individual for minimum sum assured of Rs. 1 lakh and there is no upper limit for sum assured.
Read MoreAre you LIC policyholder? Then this news is important for you as India's largest insurance company, Life Insurance Corporation (LIC) is warning against the spurious calls from the fraudsters. To keep customers safe, India's largest insurance service, health and pension plan service provider with millions of policyholders across the country keep warning them of frauds from time to time.
Read MoreIn 2019, LIC is looking to invest a total amount of Rs 3.49 lakh crore into debt and equities
Read MoreIf you wish to reach your financial goals on time, you need to monitor both aspects of your finances
Read MoreHome Loan Application Status: Here's how to check your housing loan application status online or offline at Moneycontrol. Click the above link to read more!
Read MoreTaxpayers should go through the income tax website and familiarise themselves with the various services available
Read MoreIf you get penalised for bad driving, your motor insurance premium will go up
Read MoreThe list will make it easier for them to manage their monies once they go back to their professional and personal routines
Read MoreAviva is facing proceedings under the IBC, for not meeting payment obligations to the Apeejay Group.
Read MoreHealthcare is quite expensive these days, particularly when you’re travelling abroad
Read MoreAt the end of October 2019, LIC held a market share of 70.9 percent while private insurers held 29.1 percent based on new premium collection
Read MoreIf the ITR is processed by the I-T Department but still the tax refund is not credited in the bank account, then it might be possible that the taxpayer has not fulfilled the new requirement.
Read MoreIRDAI has floated a draft proposal that will allow insurers to give premium discounts in health insurance for those living a fit lifestyle.
Read MoreGST Latest Circular: CBIC has made it compulsory to use a unique document identification number (CBIC-DIN) to protect honest taxpayers from any harassment.
Read MoreThe rates of return mentioned in the benefit illustration are not the upper or lower limits of what you may get in reality. You may get even higher gross yield of more than 8 percent per annum or lower than 4 percent per annum on your investment.
Read MoreDoctors blame increased exposure to indoor and outdoor pollutants like PM2.5 for the rising number of lung cancer cases among non-smokers.
Read MoreAmong the retail products that would be closed are some of LIC’s best sellers such as Jeevan Anand, Jeevan Umang, Jeevan Lakshya and Jeevan Labh.
Read MoreFrom January 1, 2014, revival period of a lapsed LIC policy was restricted to two consecutive years from the date of first unpaid premium
Read MoreIf you are planning to travel outside India anytime in the near future, it is advisable to get a proper travel insurance cover to protect yourself from any unfortunate incidents that could take place on your holiday or business trip.
Read MoreNEW DELHI: Cases of common cancer, including oral, cervical and breast cancer, diagnosed at state-run NCD clinics increased by nearly 324% between 2017 and 2018, according to National Health Profile, 2019 data.
Read MoreNEW DELHI: The states which recorded the most cases of common cancer in 2018 — Gujarat, Karnataka, Maharashtra, Telangana and West Bengal — also recorded a significant jump in cases as compared to the previous year, according to National Health Profile, 2019 data.
Read MoreImagine a bank that pays negative interest. In this upside-down world, savers are penalized and borrowers get paid to borrow money. Crazy as it sounds, the 2008 financial crisis created a lingering economic slump that drove the European Central Bank to experiment by cutting benchmark lending rates below zero in 2014. Then Japan followed.
Read MoreWith proposed draft, consumers can claim upto Rs 75,000. And anything above this limit would have to be assessed by an insurance surveyor.
Read MorePeople with HIV/AIDS are at the mercy of insurance companies, who can take a decision to allow or deny their medical coverage.
Read MoreOne of the best ways to stay financially secure and independent as a senior is to continue to work, earn and stay relevant.
Read MoreThere's a lot to take care of in the lead-up to having a baby. If you don't have a life insurance policy but plan to have a baby in the next year or so, it's a good time to consider getting one.
Read MoreThe income tax department uses data from the PAN card to obtain certain information about you Here is how to update address, other details in your PAN card or make any changes
Read MoreDiwali, the festival of lights is celebrated by all as the occasion of homecoming of Lord Rama. Hence culturally it has been deemed auspicious to purchase a house at Diwali. A home is not just a structure, but also includes contents diligently acquired by the homeowner over the years.
Read MoreAs per the Income Tax Act, an individual is considered a senior citizen on attaining 60 years of age. Here are few exemptions and deductions available for senior citizens for the current financial year
Read MoreRetirement planning in India has still not picked up as people are being more emotional towards their family and try to fulfil all their wants even if it means sacrificing their retirement.
Read MorePost office savings interest up to Rs 3,500 is exempt for single a/cs and up to Rs 7,000 for joint a/cs.
Read MorePMC Bank depositors protest outside Asiatic Society, in Mumbai on October 19, 2019.
Read MoreAdequacy of income is easily tested by the assets that you have accumulated. If you are 40 and the only assets you possess are the home you live in and the PF and tax saving investments you have done, you may not be doing enough.
Read MoreInsurance is a way to ensure that you make provisions to face eventualities. You would do well to first incur that expense which protects you. Read on to know when health, motor and personal accident insurance are more needed than life cover.
Read MoreThe sum assured depends upon the income of the person and typically a maximum of up to 10 times the annual income is allowed as the sum assured.
Read MoreAbout 60% of non-government workers in the United States have access to life insurance through work. It's a valuable benefit that employers often offer at no cost to employees. Plus, coverage is guaranteed so you don't have to submit to a medical exam.
Read MoreFor each notice from the tax department, a particular procedure needs to be followed to file a reply The department can pick up ITRs for scrutiny till up to six months from the end of the financial year in which the return was filed.
Read MoreThe PMC Bank crisis saw a substantial portion of depositors’ money getting blocked with the bank. Many fear the worse is yet to come if the bank goes in for liquidation. So, how safe is your deposit in such a situation
Read MoreHealth insurance is a necessity in the current times of expensive medical treatments. To make health insurance policies more standardized and simple for individuals, the IRDAI (Insurance Regulatory And Development Authority of India) had recently announced some changes.
Read MoreThe income tax laws classify the residential status of an individual into three categories, depending on the individual's stay in India in the relevant financial year as well as his/her stay in the previous years. Here is a look at these categories.
Read MoreTill recently, health insurance policy premiums were only payable on annual basis.
Read MoreThe insurer reported first-year premium of ₹89,980.2 crore
Read MoreLIC registered a business growth of 18 percent in September against last year, and a very robust 42 percent in the first half of the financial year between April and September, the latest data released by insurance regulators IRDAI showed.
Read MoreThe economic offences wing of Mumbai Police jaarrested Rakesh Wadhwan and his son Sarang Wadhwan, directors of HDIL.
Read MoreSelling of life insurance policies is not possible as with other assets and herein you need to surrender the policy that entails a costs, however if you wish to liquidate your investment in it,
Read MoreLIC saw a 41.7 percent YoY increase in first year premiums in H1
Read MoreAs of March 31, SBI has declared as unrecoverable outstanding worth Rs 37,700 crore that 33 borrowers, with loans of Rs 500 crore and more, owed it.
Read MoreIn an interview with TOI, LIC chairman M R Kumar speaks about the focus areas for the corporation 'We are long-term players — so long as the scrip gives a return over 10-15 years, it is good enough,' Kumar stated
Read MoreLIC asked its policyholders to not believe any rumours circulating on social media about the insurer's financial position
Read MoreMessages wrongly speculate about LIC's financial health and attempt to portray the largest life insurer in poor light in the eyes of its stakeholders, said the corporation.
Read MoreYou shouldn’t be basing your savings decision on the notion that your sons and daughters will take care of you in your non-earning decades
Read MoreIt was in addition to a cumulative 110 bps rate cut that RBI has announced so far this year.
Read MoreYou do not need to reply or act upon any any income tax notice if it doesn't have a Document Identification Number You can easily check the validity of any income tax notice or letter that you might have received
Read MoreStarting today, all I-T notices, letters or other tax related correspondence will carry a unique number.
Read MoreGold makes sense for those who have no access to or no trust in the financial system, or expect to be in such a situation. It’s an alternate currency.
Read MoreIn a customer friendly move, the Insurance Regulatory and Development Authority of India (IRDAI) has now said that insurers must make sure that travel portals do not make travel insurance a pre-selected option.
Read MoreA 2017 report by EY, a global advisory firm, highlighted that 75% of households in India have income less than baseline treatment costs for early-stage cancer.
Read MoreUnderstand the process before you dash off to renew a lapsed motor policy.
Read MoreHowever, tax authorities will ensure that no innocent is punished. "But citizens should not distort facts or fabricate false evidence," he said.
Read MoreA taxpayer is eligible to receive an income tax refund when excess taxes have been paid by him either through tax deduction on payments made to him or direct tax payments as advance or self assessment tax.
Read MoreThis significant financial document is also required when you seek to open a bank account, filing tax, booking tickets, besides being mandatory for purchasing anything worth over Rs 50,000. Twitter
Read MoreOn September 6 , IRDAI notified the constitution of a working group to recommend the implementation framework and methodology for a potential premium-driving behaviour regime.
Read MoreThe Income Tax department has asked all PAN card holders to not share their Permanent Account Number on social media The I-T department has an online query form where one can safely ask tax-related questions
Read MoreThe insurer has come to the government’s rescue in its disinvestment agenda, time and again
Read MoreHere are 10 income tax and other investment benefits available exclusively for senior citizens.
Read MoreAcross the country, there has been a mad rush to renew lapsed insurance policies by motorists, thanks to the new Motor Vehicles Act that has imposed heftier fines for those driving uninsured vehicles. Apart from the fine, there are other reasons why you should renew your lapsed motor insurance policy.
Read MoreThe new income tax rule on receipt of maturity benefits from insurance policy came into effect from 1st September A higher TDS will be levied if the insurance proceeds are taxable
Read MoreThe facts can be verified at authorized offices/call centers of insurance companies. The telephone numbers of the authorised call centers can be verified in the policy documents/official websites of insurer.
Read MoreTo find the accurate life insurance cover, experts suggest finding out Human Life Value (HLV) considering all aspects of the earning person and dependents
Read MoreHow you drive and how many accidents you are involved in could soon be a factor for insurance companies to decide the premium you need to pay to insure your vehicle. This is the first time when such an initiative has been taken At present, insurance premium is linked to the type of vehicle and engine capacity
Read MoreThe beauty of investing in a child insurance plan is that it continues even after the demise of the policyholder
Read MoreShore up your finances with an emergency fund and insurance, save every month, invest to create wealth, and borrow with great care
Read MoreLife insurance has been around for long. But if you don’t have an insurance, don’t be surprised, there are many in India who don’t have an insurance policy to their name. In fact, according to the Insurance Regulatory and Development Authority of India (IRDAI) report of 2017-18, the insurance penetration in India stood at 3.69 per cent, one of the lowest across the world.
Read MoreAn ITR return needs to be verified within 120 days of filing of tax return.
Read MoreFrom October 1, 2019, any loan taken will be linked to any one of the 4 external benchmarks specified by RBI.
Read MoreOnce returns are filed and verified by the taxpayers, the I-T department starts processing it to check for any discrepancies between the income declared, and taxes paid After the processing is complete, taxpayers can get confirmation on the website
Read MoreIRDAI said that linking Insurance premium to traffic violations committed could reduce road accidents and change driver behaviour
Read MoreUlips provide a risk cover and enable one to invest into equity or debt markets basis their risk appetite and gain significant returns which can then be used to accommodate their goals.
Read MoreHealth Insurance for Family: Get the best medical insurance plan to protect & secure your family with the best coverage & benefits. Click to read more at Moneycontrol.
Read MoreWhile there is scope to bring in more exciting features in traditional products, insurers need to build a committed band of agents who can make customers understand the need to remain loyal to a product for a long time
Read MoreIndividuals having an annual income of up to Rs2.5 lakh are not required to file income tax returns, according to Income Tax department.
Read MoreUnder new income tax laws, aggregate cash withdrawal beyond a certain threshold in a year from banks, post offices will attract TDS For TDS calculation from income tax perspective, while buying a property, the buyer has to include payment made for other charges like club membership fee, car parking fee
Read MoreThe Budget has made PAN and Aadhaar interchangeable, but both have to be linked by September 1
Read MoreMarket share of the insurer rose to 73.1 per cent
Read MoreLIC had started with 168 offices in 1956, and today it has over 4,851 offices LIC is also issuing ePolicy along with physical policy document
Read MoreAn order is being circulated on social media pertaining to extension of due date for filing of IT returns The income tax department has said that the order is not genuine
Read MoreThe task force has also proposed introducing a new top tax bracket of 35% for the super-rich, that is those earning above Rs 2 crore in a year.
Read MoreThe standard retirement age and hence the coverage duration may not be relevant for everyone and may call for a review
Read MoreWhile children in India have been conditioned to support their parents in old age, times are changing. The rising number of nuclear families, higher cost of living and parents asserting their financial independence, means that the concept of kids as a retirement plan has taken a beating. So how should you support your parents after you have a family of your own?
Read MoreTo avoid tax notice, penalties and prosecution, taxpayers having total income over Rs 2.5 lakh must not forget filing of their ITR for the AY 2019-20 on or before August 31, 2019.
Read MoreDigital KYC will involve capturing the live photo of the customer and officially valid documents or proof of possession of Aadhaar Parliament recently passed an amendment bill which allows voluntary use of Aadhaar as proof of identity for opening bank accounts
Read MoreThe report says that the banks want to allow just one transaction per a certain period, say 12 hours.
Read MoreLife insurance is an important investment simply because it helps secure your family’s well-being should you one day not be around
Read MoreThe ease of availing funds often leads borrowers to overlook some of the crucial aspects of availing a personal loan.
Read MoreAny form of economic slowdown has a direct and indirect impact on your personal finances too You cannot control the economic environment or your income flow, but you can control your expenses to a certain extent
Read MoreLife insurance is a boon that helps an individual's family cope financially in case something happens to them, especially if they are the family's sole breadwinners. An adequate life cover not only helps with the day to day expenses of the family of the deceased, but also long-term goals such as education and marriage.
Read MoreRecently, CBDT had issued a circular according to which every income tax notice issued by the department will have a computer-generated Document Identification number.
Read MoreITR Filing 2019: Unlike salaried individuals, filing tax returns for a freelancer can get slightly complicated. Here's how they can do it.
Read MoreApart from lower premium, Jeevan Amar plan has much wider features and flexibility in both premium payments and getting death claims compared to now withdrawn term plan Amulya Jeevan.
Read MoreProper retirement planning ensures that you do not compromise on your current lifestyle post retirement.
Read MoreFor income tax purpose, a senior citizen is an individual resident in India who is of the age of sixty years or more at any time during the relevant previous year.
Read MoreAfter filing your ITR, if you realise that there was a mistake in entering account details in which refund is scheduled to come, or the details have been changed, log in to your e-filing account to check if the ITR is processed or not.
Read MoreIt is advisable to be extra careful while filing income tax return this year as even a small mistake can result in the issue of a notice from the Income Tax Department.
Read MoreTry to save 30% of your net-of-tax earnings and don't fall prey to debt traps by spending more than your earnings
Read MoreWith interest rates falling, insurers are likely to reduce the annuity rate. Those aged 50 and above must buy annuity policies at current rates to enjoy high income rest of their life
Read MoreOpting a loan against a life insurance policy is also known as pledging, where a loan can be issued by the insurance companies itself, or any other financial institutions.
Read MoreNumerous people buy health insurance without knowing its numerous exclusions, one amongst which is waiting period. Here's all you need to know.
Read MoreWithout Form 16 and with Form 26AS showing no TDS was deducted and deposited, many employees are in dilemma how to file ITR on time and whether to pay tax again.
Read MoreIRDAI has constantly issued such public notices communicating policyholders and new buyers that it does not sell any insurance products.
Read MoreSalary received from all the employers during the financial year will have to be clubbed to arrive at your total income and be taxed accordingly.
Read MoreLIC's market share stood at 73.17 percent in terms of premium collection.
Read MoreIf your neighbors or any third-party gets harmed, due to fire break down in your house, the insurance company covering your house will also pay for such incidents.
Read MoreITR Filing: Make sure to file your income tax return on or before the due date of August 31, 2019 to avoid penalties.
Read MoreOne of the most important factors to take into consideration when choosing a home loan is the interest rate.
Read MoreThe survey highlights that instances of taking a loan for family needs are the highest in cities like Patna (61%), followed by Lucknow (58%), Nagpur (56%) and Jaipur (54%).
Read MoreThe best way one can determine the tenure of one's life insurance policy is by determining the duration of one's financial obligations.
Read MoreThis is the fourth time the RBI has cut repo rate this year Retail inflation has remained below the RBI's medium-term target for almost a year
Read MoreThe public sector insurer had earlier withdrawn another product, Amulya Jeevan Term Plan.
Read MoreMUMBAI: India's cancerburden will almost double to 20 lakh cases in the next 20 years and mainly due to demographic changes, says a new study. The country registered 11.6 lakh new cancer cases in 2018, according to GLOBOCAN, the World Health Organisation's cancer-mapping programme.
Read MoreNot only LIC of India's new term plan Jeevan Amar is much cheaper than its just withdrawn Amulya Jeevan Plan, but it is also more flexible and has much wider features.
Read MoreITR Filing 2019-20: It might be complicated to compute the tax liability of non-salaried taxpayers as their income streams may be irregular in comparison to salaried taxpayers.
Read MoreOnce your ITR is processed by the income tax department, you will get tax refund directly into your bank account A tax refund becomes due once the assessing officer has processed your ITR file and accepted the tax refund claim.
Read MoreWhen planning to buy a life insurance policy, it is often observed that most people fail to understand the various elements that together make a life insurance cover, following which they end up investing in a wrong product.
Read MoreManaging debt, keeping personal and business finances separate, and curbing reckless spending are critical
Read MoreConfused about how TDS is deducted from your salary? Here's everything you need to know about it
Read MoreThe last date to file your Income Tax Returns for the 2019-20 assessment year is August 31. If you earned over Rs 2.5 lakh before tax deduction, then you are liable to file tax returns. If you are a salaried employee or have an income other than salary, Tax Deducted at Source (TDS) would have been deducted from your income.
Read MoreMoney may be a conversational taboo in your family or social circles. When you hire a financial planner, however, you'll want to leave those inhibitions at the door. Just like your spouse, you should go into any meeting or conversation with a financial adviser or financial planner with complete openness and honesty.
Read MoreMove Comes Due To Improved Liquidity, Will Help Lower Lending Rates
Read MoreThe finance minister says CAG’s comments on fiscal deficit are being looked into seriously.
Read MoreSBI has also cut interest rate on income tax-saving fixed deposits The sharp cut in interest rate on SBI FD rates comes amid a fall in interest rate in the financial system
Read MoreEven if you don’t have to pay tax on the income, you still need to report it Even if tax is deducted on salary and TDS is paid on your interest income, you may still notice that there are some taxes due
Read MoreTaxpayers are generally issued notices due to delay in filing income tax return (ITR), mis-calculation of LTCG gains from equity and so on. File your ITR using the correct tax return form to avoid getting notice of defective return.
Read MoreUnlike you might imagine, filing ITR is a straightforward and user friendly process. When you set out to file your ITR, here are the documents you need to keep ready by your side.
Read MoreOne of the key reasons behind the extension of ITR deadline was the late release of online utility for ITR filing, which was released with some new updates.
Read MoreInsurers classify untimely deaths into various categories, based on which deaths are covered or not covered, and the insurance company declines or pays the death benefit.
Read MoreThere have been demands for an extension in filing ITR date since issuance of tax deducted at source (TDS) statement for 2018-19 fiscal was delayed.
Read MoreTaxpayers usually take into consideration only the income from their main occupation while filing their ITR. However, it is also important to factor in the income from “other sources”.
Read MoreIncome Tax Return e-Filing for AY 2019-20: ELSS is considered as one of the most attractive tax-saving investments, because of its capacity to generate higher return in the long term, as well as for its tax efficiency.
Read MoreEarlier, in case of the policyholder's death by suicide, during the first year of policy issuance, there were no regulatory provisions for any refund to a policyholder.
Read MoreThe ITR-1 form has been simplified this year, making it easier for salaried employees to e-file returns.
Read MoreHow to file income tax return: Reporting LTCG details while filing the income tax return (ITR) for the assessment year 2019-20 has now been simplified.
Read MoreThe borrowings will be in the form of bonds to be issued by the NHAI.
Read MoreIndividuals now have to deduct tax at source in multiple situations.
Read MoreIn India, no income tax is levied on inheritance of gold but subsequent sale of the inherited gold is taxable Taxpayers should maintain the documentation on inherited gold: Tax experts
Read MoreThe amendment, along with 28 others, were approved by a voice vote by the Lok Sabha, which passed the Finance Bill 2019.
Read MoreAadhaar-PAN name mismatch: If your name is different in PAN and Aadhaar Card, you will face difficulties in linking your PAN and Aadhaar Card.
Read MoreIt is important to understand the kind of policies available and choosing the right health insurance coverage as per your health conditions and family type.
Read MoreAfter a hiatus of some nine long years, the IRDAI has proposed some changes for its non-linked category of products and ULIPs. Non-linked insurance products are the traditional life insurance plans including endowment and money back plans.
Read MoreUnion Budget 2019 India: Benefits for housing has been one of the key areas of focus for the government and there has been heightened expectations from the common man since the current limit of deduction for housing loan interest at Rs. 200,000 per annum is grossly inadequate.
Read MoreAll the 24 life insurers had written new gross premium of Rs 16,611.57 in the same month a year ago.
Read MoreBanks also charge a penalty from customers who fail to maintain an average monthly balance in their savings account
Read MoreNEW DELHI: The Reserve Bank of India (RBI) will come out with a mobile application to help visually challenged people in identifying currency notes as cash still remains a dominant mode of transaction.
Read MoreLIC’s Nav Jeevan plan is a non-linked with profit endowment assurance plan, with the options to pay either single premium or limited premium for 5 years.
Read MoreLife Insurance Corporation of India (LIC) posted an 81 percent YoY growth in new premiums at Rs 44,794.78 crore in Q1
Read MoreLife Insurance Corporation of India (LIC) has increased its share of the insurance market in the country by 7 percent this year and now corners 73.2 percent of the industry.
Read MoreLIC Policy: The policy term for LIC Money Back Plan-20 Years is 20 years while the premium paying term is 15 years.
Read MoreIf an assessee satisfies conditions of both Section 24 and Section 80EEA of Income Tax Act, he/she will be able to claim benefits under both sections.
Read MoreVarious companies have disease-specific plans, such as those for cancer and diabetes. Critical illness plans offer cover even after the insured have been diagnosed with any of the listed critical illness.
Read MoreWhen it comes to life and health insurance, your premium amount will differ with your age, family history, pre-existing diseases and lifestyle choices among other reasons.
Read MoreLIC New Jeevan Anand policy is a combination of protection and savings that offers attractive benefits to insurees. The combination plan provides financial protection against death throughout the lifetime of the policyholder.
Read MoreFinance Minister Nirmala Sitharaman in her first Budget made no changes in the income tax structure. However, she announced a slew of new income tax proposals that could impact many tax payers. "We are thankful to the taxpayers who play a major role in nation building by paying their taxes.
Read MoreNo matter your age, work profile (salaried or consultant) or income level, these 9 easy questions will help you calculate the nest egg you need to build.
Read MoreFM Nirmala Sitharaman today announced that Aadhaar and PAN would be made interchangeable Additional income tax deduction of ₹1.5 lakh on home loans for affordable houses costing below ₹45 lakh announced in Budget 2019
Read MoreFinance Minister Nirmala Sitharaman raised tax surcharge on high net worth individuals (HNIs) with annual income between Rs 2 crore to Rs 5 crore a year by 3 per cent. The surcharge for those earning more than Rs 5 crore was increased by 7 per cent.
Read MoreFinance minister Nirmala Sitharaman presented the Union Budget 2019 in the Parliament on Friday. The first Budget of Narendra Modi government's second tenure is the maiden one for Sitharaman, who is the second woman finance minister of India after Indira Gandhi. Here are the key highlights of the Budget:
Read MoreWhile the government's aim is to widen and deepen the tax base through these steps, it increases the financial accounting liability for individuals impacted by these rules.
Read MoreTo put things simply, a taxpayer doesn't need to have PAN while filing Income Tax returns. In other announcements, the finance minister said that the government would take substantial steps to promote rental housing and would make amendments in the existing rental laws
Read MoreThis income tax rebate under Section 87A is applicable for individuals who have a taxable income of less than ₹5 lakh Tax experts say that assessees should take benefit of income tax rebate to the extent possible
Read MoreThere is asymmetrical information which often leads people to make health-related decisions, not in their best interests, said the survey.
Read MoreThese riders are nothing but additional covers such as term rider, accidental death and disability rider, waiver of premium rider, critical illness rider, etc., offering benefits beyond the conventional insurance policy.
Read MoreOnce you take out a whole life insurance policy, the cash value will be available for your entire life—you don’t have to wait until you die to use it.
Read MoreThe customers of Life Insurance Corporation (LIC) of India need not worry anymore about remembering the due date of paying the LIC premium or take out time to stand in a queue to pay the renewal premium.
Read MoreLIC policyholder can check policy details, bonus, premium, nominee related information by visiting the LIC website or sending SMS at 56677.
Read MoreWhen an individual is buying life insurance, the core purpose should not be limited to just tax saving. It has a more significant purpose and importance to our lives.
Read MoreLife Insurance Corporation of India (LIC of India), India's largest life insurer, has announced its audited figures for the year ended March 2019.
Read MoreHealthcare in India is at the crossroads with the government rolling out the biggest publicly funded healthcare plan in the world and clamping down on prices of medical devices, even as global investments are pouring into tertiary care Quite often, people travel abroad for jobs or business and plan to reside there for a couple of years.
Read MoreRBI has waived all charges on fund transfer through RTGS, NEFT The central bank has asked all commercial banks to pass on the benefits to customers
Read MoreAccording to IRDAI, on the basis of total premium income, the market share of LIC decreased from 71.81 percent in 2016-17 to 69.36 percent in 2017-18.
Read MoreBudget 2019 India: Increase the basic assumption limit by Rs 50,000 including for the senior citizen. The women taxpayers may also get a higher base exemption limit in Union Budget, says Kuldip Kumar, Partner and Leader Personal Tax, PwC.
Read MoreGiven the sharp increase in medical costs, it imperative to opt for a health insurance plan as with old age comes several ailments that are expensive to treat and care for.
Read MoreState-owned Life Insurance Corporation (LIC) of India registered a 6.08 per cent increase in its total premium income to ₹3,37,185.40 crore in 2018-19 against ₹3,17,850.99 crore in 2017-18.
Read MoreUnion Budget 2019 India: A GST waiver should be approved for Life Protection Plans because while life insurance gives people financial protection, consumption of alcohol is considered dangerous to health.
Read MoreThe pre-Budget survey 2019-20 conducted by KPMG (India) included responses from 226 respondents spanning across industries.
Read MoreStandard deduction is the amount that gets subtracted from your taxable income Finance Act 2018 reintroduced standard deduction, which was last available for the financial year 2004-05
Read MoreTo file ITR, you must first register yourself on the e-filing website of the income tax department.
Read MoreMumbai: Life Insurance Corporation of India (LIC) has seen its asset base rise 9.1% to Rs 31.1 lakh crore as on March 31, 2019, compared to Rs 28.5 lakh crore in the corresponding period of the previous year. This is despite total premium income growing only 6% to Rs 3.4 lakh crore in FY19 as compared to Rs 3.2 lakh crore in the previous year.
Read MoreSalary, FD interest income and TDS were earlier manually entered by the individual in the ITR-1 form.
Read MoreInterest rates on small savings schemes is reset before each quarter and depends on government bond yields in the previous quarter.
Read MoreLiquid mutual fund schemes will have to hold at least 20% in liquid assets Company founders should disclose reason after pledging 20% stake
Read MoreThe total policy payouts amounted to Rs 2.50 lakh crore for FY19, showing a 26.6 percent increase.
Read MoreKeep loan EMIs to a maximum of 60 per cent of your salary to avoid getting into a loan trap
Read MorePPF has fetched 8% interest rate since October Senior Citizens Savings Scheme and Sukanya Samriddhi account may continue to fetch higher interest rates than other small savings schemes
Read MorePPF accounts can be extended beyond 15 years, with or without making further contribution Partial withdrawal is allowed from PPF accounts and while premature closure is allowed in specific cases
Read MoreTaxpayers would like to know their entitlement to deductions towards the payments for housing accommodation and their entitlement for house rent exemption. Here's how the tax works out.
Read MoreWhen you invest in an FD, the principal amount is invested at a fixed interest rate and you gain interest on your deposits, which accrues and grows over time.
Read MoreIf one fails to declare such ‘income’ in the ITR, it could lead to reassessment under Section 147 of the Income Tax Act.
Read MoreThe insurability of smokers is determined by the seriousness of pre-existing lifestyle diseases like diabetes and hypertension.
Read MoreThe process has become almost entirely electronic. You must use the correct forms and report the exact details of income as well as deductions
Read MoreAs per the provisional accounts prepared, the corporations’s total premium income- new premium and renewal premium- was Rs3,37.200crore showing a growth of 6.08 per cent while the total benefits paid amounted to Rs2,50.900 crore growing by as much as 26.62 percent.The corporation had mobilised a total new premium of Rs41,086.31crore in 2018-19
Read MoreFiling ITR on time is beneficial in many ways while keeping you tax-compliant. Here's all you need to know.
Read MoreAs per the Income Tax rules, leave encashment is taxable as a salary if you receive it while in service.
Read MoreIt was earlier reported that the government would only consider raising income tax deductions under certain sections of the Income Tax Act. However, a fresh report suggests that the government is likely to increase personal income tax exemption threshold.
Read MoreAccording to experts, there are three things to consider: healthcare inflation, your family medical history and your salary Another way to determine the healthcare cover is to consider the kind of treatment you are likely to seek
Read MoreOffences under serious criminal cases are 'generally' non-compoundable now The CBDT has listed 13 cases where the offences are not to be generally compounded
Read MoreThe Insurance Regulatory and Development Authority of India (IRDAI) on Friday allowed insurers, with effect from September 1, to issue standalone annual own damage (OD) cover for cars and two-wheelers, both new and old.
Read MoreA lethal cocktail of high prices, drying up of bank lending and government efforts to reduce black money may combine to produce what many have anticipated -- in vain -- for long: a crash in realty prices in the country's metropolitan cities.
Read MoreFrom Form 16 to tax saving investment proofs, a list of documents you need to have by your side while filing ITR
Read MoreThe new guidelines kicked in from this Monday and applies to all cases for compounding received on or after June 17 The revised guidelines issued by the Income Tax Department have made serious offences under black money and benami laws 'generally' non-compoundable
Read MoreSome people said they want the new finance minister to further increase the basic exemption limit from Rs 2.50 lakh to Rs 5 lakh. A few others want the government to increase income tax deduction under Section 80C of the Income Tax Act.
Read MoreBuyers using credit need to be cautious of the fact that they don’t end up in a debt trap. Here are ways to manage debt better even while using a credit card.
Read MoreAn EPFO subscriber can take non-refundable PF advances during the service period for s purposes Under the Provident Fund scheme, you can take both refundable and non-refundable loans
Read MoreThe number of tax deduction limits have been increased under income tax rules that will be effective from the financial year 2019-20 or (the accounting year 2020-21). The low and middle-income group will be the biggest beneficiaries of the new tax rules.
Read MoreLike most other goals, a high quality education goal(s) can be achieved, with the right planning, discipline and execution
Read MoreESI scheme being contributory in nature, all the employees in the factories or establishments to which the Act applies shall be insured in a manner provided by the Act.
Read MoreIndia Budget 2019: Assocham has demanded that the deductions under the Section 80C of the Income Tax act should be increased to Rs. 3 lakh.
Read MoreMake sure you call and inform the insurer of your health-related emergency and which hospital you are going to be admitted in.
Read MoreWhile finding the perfect gift is anyway a difficult task, what’s more difficult is finding a meaningful gift that would express your heartfelt love for your father.
Read MoreWhen it comes to taxation, we often tend to use the terms tax credit and tax deduction interchangeably. However, are these two the same?
Read MoreThe most important factor to be considered about the issuer of debt, is the ability to repay the capital, and also the interest payouts.
Read MoreInvestments have three characteristics: safety, income and growth. The first thing you need to decide is which of these three characteristics is most important
Read MoreOften people don’t save and plan for their retirement, assuming that when the time comes, employer benefits will be enough. However, they will not cover all your retirement needs.
Read MoreIncome tax rules (interim Budget 2019): Careful planning of investments can lead to a significant reduction in the assessees' tax outgo, say experts.
Read MoreAs per IRDA proposal, if your policy has completed 8 years, your health insurance claim cannot be contested. So, your claim won’t be rejected from the 9th policy year unless you have indulged in fraud or are making a claim for a permanent exclusion.
Read MoreTDS needs to be 31.2% of the rent, unless the NRI landlord furnishes a certificate stating that his total income in India is estimated to fall below the tax exemption limit Failing to deduct TDS from an NRI landlord can also attract a penalty equal to tax not deducted under Section 271C of the Act
Read MoreThe government is looking at the possibility of introducing a tax on those withdrawing Rs 10 lakh in cash a year as it seeks to discourage the use of paper currency, crack down on black money and promote use of digital payments for all manner of transactions.
Read MoreLIC insurance policy: LIC Jeevan Labh policy can be purchased any individual between the age group of eight and maximum of 59 years.
Read MoreYou can significantly reduce your income tax outgo if you use the perquisites provided by your employer in the right way.
Read MoreThe concept of financial freedom need not be associa-ted with early retirement only
Read MoreIf you are using online Self Service Update Portal (SSUP) to update your Aadhaar or you want to use Aadhaar SMS service, your mobile number should be registered with Aadhaar.
Read MoreTo sustain a claim under the accident benefit cover, it must be established that the assured has sustained a bodily injury which resulted solely and directly from the accident. There must exist a proximate causal relationship between the accident and the bodily injury. Moreover, the accident must be caused by outward violent and visible means
Read MoreThe Income Tax department has revised Form 15H to incorporate changes made in the interim budget The old Form 15H did not took into account the maximum allowable rebate of ₹12,500
Read MorePF members are allowed to fully or partially withdraw balance from their account To apply for such withdrawal online, the subscriber must have an active UAN (Universal Account Number)
Read MoreIncome Tax Return for FY 2019-20: The deadline for filing Income Tax Return (ITR) is approaching fast. If you are a salaried employee, you would have to file the income tax return (ITR) before the deadline to avoid penalty.
Read MoreSelling, buying and/or mining cryptocurrencies will be considered a non-bailable offence, according to the new bill.
Read MoreIt is important for us to re-evaluate our health insurance on a regular basis just to make sure that we and our family members are adequately covered.
Read MoreThe Reserve Bank of India cut the repo rate by 25 basis points for a third consecutive time on Thursday and also shifted its stance to accommodative from neutral amidst concerns about slowing growth.
Read MoreThe Reserve Bank of India (RBI) on Thursday decided to remove charges on RTGS (Real Time Gross Settlement System) and NEFT (National Electronic Funds Transfer) transactions.
Read MoreTRA's Brand Trust Report 2019, the ninth in the series, is the result of primary research based on the proprietary 61-Attribute Trust Matrix of TRA
Read MoreIn the case of a jointly-owned property, each co-owner is liable to pay tax on his/her share of the rental income
Read MoreIncome Tax Return filing for AY 2019-20: The process to file income tax returns for the new financial year has started. The income tax return is a form where taxpayers declare their taxable income, deductions, and tax payments.
Read MoreA non-resident or a person not ordinarily resident in India, earning income in the form of salary and interest, is required to furnish return of income in India.
Read MoreLife insurance is an important piece of every family’s financial protection plan, but it is especially important for single parents.
Read MoreThe due date of filing of income-tax return for AY 2019-20 is 31st July 2019 CBDT has extended the due date of filing of Form 24Q, i.e., TDS return in respect of salary for the financial year 2018-19 from May 31, 2019 to June 30, 2019. The due date has been extended considering the latest changes made by the tax department in Form 24Q .
Read MoreWomen should be financially independent and take charge of their wealth
Read MoreLife Insurance is about financial protection for your loved ones Here's how you can choose the correct term insurance policy for your loved ones
Read MoreThe policy statement tells you about the policy maturity, premium paid for the policy, policy status etc and this information can also be accessed through SMS.
Read MoreThe regulator’s draft calls for more coverage and fewer exclusions Here’s a quick lowdown on how it affects you
Read MoreCarefully estimate your regular, unexpected expenses, and medical costs while also factoring in inflation.
Read MoreIn India, there are numerous insurance companies offering sufficient home insurance policies to cover your home against a natural disaster.
Read MoreThe Central Board of Direct Taxes (CBDT) specified that non-individuals are mandatorily required to apply for PAN in case they do not possess one by May 31, 2019.
Read MoreWhen you take a loan, do review your insurance covers. Repayment of loan even when you are not around, will ensure that your family get peaceful enjoyment of assets you built using the loan
Read MoreIn case of theft or loss of a PAN Card, the cardholder can immediately apply for a duplicate one. In such cases, the Permanent Account Number assigned to the individual remains the same.
Read MoreDig into additional details to file returns for your income earned in FY 2018-19
Read MoreThe kind of post-retirement lifestyle you envisage, family circumstances, your health status—all influence what kind of a nest egg you will need for your sunset years.
Read MoreThe RTGS system is primarily meant for large value transactions The minimum amount to be remitted through RTGS is Rs 2 lakh with no upper or maximum ceiling
Read MoreScrutiny notice received by an individual can be grouped into limited scrutiny or complete scrutiny.
Read MoreIt is important for one to be aware of when these proceeds are tax-free and when not, in order to take advantage of the tax benefit.
Read MoreAn NRI need not be present while buying the policy; he or she can purchase the policy from his or her current resident country either through online mode or by communicating via written communication with the insurer.
Read MoreThe most appropriate financial planning tool available to ensure the safety of one’s loved ones is a Family Floater health insurance plan that covers each family member.
Read MoreCustomers are charged for transactions at ATMs over and above the permitted number of free transactions.
Read MoreThe exemption limit for the financial year 2019-20 available to a resident senior citizen is Rs. 3 lakh.
Read MoreThird-party insurance premium for cars, two-wheelers and transport vehicles may go up with the regulator IRDAI proposing a substantial increase in premium rates for the current financial year.
Read MoreHealth insurance alone is not sufficient for old age. You need to have a separate healthcare contingency corpus too.
Read MoreSenior citizens, above 60 years of age, have to submit Form 15H to banks at the beginning of a financial year to ensure that no tax is deducted at source on interest income (iStock)
Read MoreIn order to avoid a situation where you are not able to make a car insurance claim, you should familiarize yourself with the reasons why even a genuine claim made on your behalf may get rejected.
Read MoreInsurance agents ask buyers to only sign in the relevant places and they in turn fill up the rest of the information
Read MoreMost people think that retirement planning is a complicated affair and use it as an excuse to avoid this critical exercise. However, retirement planning is not difficult.
Read MoreMistakes in dealing with other related areas can in fact derail otherwise careful retirement planning.
Read MoreIf you are relying on your group health insurance and plan to buy a cover after retirement, it will not only be expensive but insurers may reject your case on medical grounds
Read MoreLIC Plan: New Money Back Plan-20 Years can be purchased by any individual between age of 13 years and 50 years for minimum sum assured of Rs. 1 lakh.
Read MorePolicyholders should be aware of the common reasons that could lead to a rejection of a claim, leading to financial distress to the nominee or beneficiary.
Read MoreLIC Jeevan Labh Policy: Any individual between the age of 8 and 59 years can purchase the LIC Jeevan Labh policy for minimum sum assured of Rs. 2 lakh.
Read MoreTop-up loans mean the bank adds an additional amount to the borrower's existing home loan. Taking a top-up loan on an existing home loan is a better option, as they are easily available at a good interest rate.
Read MoreCreating a secured financial future for the newborn is one of the most important things young parents should do, but very often many of them do not know what to do and where to begin.
Read MoreAny income arising to a resident of India from any source shall be taxable in India. Hence, income earned from the transfer of shares held by a resident of India in a foreign country will be taxable under the head “income from capital gains” in India.
Read MoreGroup health policies can be customised to suit your requirement. One such customisation is you can include maternity cover and OPD benefits
Read MoreBefore buying home insurance, check if your society has a structure cover. Also, check if the policy bought by your housing society covers reconstruction cost and not only the depreciated value of the building
Read MorePersonal loans are popular and easily accessible, but pay attention to the various charges, fees and penalties.
Read MoreLIC Policy: LIC New Jeevan Anand Policy can be purchased by any individual between age group of 18 and 50 years for minimum sum assured of Rs. 1 lakh.
Read MoreWith Thursday’s fall, the Sensex has lost 1,508.42 points or about 4% in the last seven sessions, marking its longest losing streak in nearly three months.
Read MoreWhen it comes to life insurance policies, most customers invest significant amount of time and effort in researching online, meeting prospective sellers, and deliberating upon the various products to decide the most suitable offering.
Read MorePlanning for early retirement is not just about building a large corpus but it is also about making sure the corpus lasts longer
Read MoreEnsure that both parents are fully aware of all their financial holdings. You may also want to talk to them about writing a will
Read MoreThis scheme is based on the nodal agency model. A nodal agency can be panchayats, NGOs, self-help groups or any other institutionalised arrangements.
Read MoreAccording to studies in the past, the rise in the cost of medical treatment in India is estimated to have been in the range of 18-24 per cent. This has primarily been due to a rise in the cost of medicines, medical diagnostic equipment and hospitalisation charges.
Read MoreWhat if your newly purchased car, which just got out from the showroom with insurance but without registration, met with an accident? The incident could set you back financially. There can be many questions which can come to your mind, for instance, will you be getting the insurance claim from the insurer? Is your car really insured without registration?
Read MoreAn investor having life insurance and accidental insurance is beneficial if he or she dies in an accident as his or her nominee can claim death claim in both policies.
Read MoreNSE did not exercise due diligence while putting in place TBT (Tick-by-Tick) architecture, SEBI said.
Read MoreNSE did not exercise due diligence while putting in place TBT (Tick-by-Tick) architecture, SEBI said.
Read MorePrivate equity firm TPG Capital, Indigo Partners, National Investment and Infrastructure Fund (NIIF) and Etihad Airways are in the race to buy a stake in the grounded Jet Airways. (ANI)
Read MoreA professional investment adviser will have the expertise to make it a simple and fruitful process for you
Read MoreYour life insurance should be big enough to take care of your present as well as future needs of your dependents
Read MoreInvestors often hold more money in property and gold than what the portfolio needs Financial assets not only have the potential to produce higher returns but also provide the required flexibility, tax efficiency and transparency
Read MoreWomen have been raised to not ‘worry’ about finances, seeing the men of the house making most money-related decisions.
Read MoreRETIREMENT PLANNING: Long-term interest rate fluctuations, increasing lifespans are challenges for financial security, post retirement
Read MoreIdentify your existing investments and expenses before putting more money to save taxes Have different tax planning strategies when you are single, married, nearing retirement or are retired
Read MoreLife Insurance Corporation of India registered 5.68 per cent growth in premium at ₹1,42,192 crore
Read MoreLIC New Jeevan Nidhi plan is a conventional with profits pension plan with a combination of protection and saving features.
Read MoreAwareness levels around the concept of Living Will were poorest in Jaipur and Chandigarh, while with 36% and 31% respectively, the awareness levels in Delhi and Mumbai were highest.
Read MoreNEW DELHI: The government released on Friday new income 0tax return forms , which seek more disclosures from those who claim exemption on a large agricultural income, directors on the boards of companies, individuals with foreign assets or bank accounts as well as those holding shares in unlisted companies.
Read MoreThe monetary policy committee has reduced the key policy rate by 25 basis points to 6 percent in order to boost private investments and support domestic growth
Read MoreAny individual between the age group of 12-45 years of age can opt to buy LIC Jeevan Pragati Plan for a minimum sum assured of Rs. 1.5 lakh.
Read MoreLIC Money Back Plan can be purchased with a minimum sum assured of Rs. 1 lakh and it has no limit on the maximum sum assured.
Read MoreThe advertisement campaigns often launched by insurers focus on promoting particular insurance plans and not the concept of insurance.
Read MoreThe premium paid for the LIC's New Jeevan Anand Policy plan also qualifies for tax rebate under Section 80C of the Income Tax Act.
Read MoreApart from providing financial security to the family, LIC policy can be used as an option to secure a loan. Find out how it is better than a personal loan, gold loan and loan against shares.
Read More"The amount of deduction depends on the percentage of disability. The deduction claimed is fixed irrespective of the actual expenses."
Read MoreEvery year the Income tax department verifies the correctness of the income tax returns filed by taxpayers by sending a scrutiny notice to them. This exercise is aimed at ensuring that the taxpayer has not understated the income or has not computed excessive loss or has not underpaid tax in any manner.
Read MoreLIC switches to SMS alerts for policy premium and maturity reminders
Read MorePermanent Account Number (PAN) is the tax identification number mandatory for filing income tax returns (ITR) and can be applied either online or offline.
Read MoreOne of the advantages of financial assets over physical assets is the convenience of buying and selling. For example, if you want to buy equity shares, you open a broking account and simply give an order to buy from exchanges
Read MoreDo you know what will be the value of today's Rs 1 crore 30 years later? It will be Rs 23 lakh if you consider inflation at 5%. So, in three decades a neat sum of today can become less than one-fourth of its value
Read MoreIt is not just the poorer section of the society that finds it hard to save money but a whole bunch of the urban population struggles to save money on a monthly basis.
Read MoreThe Married Women’s Property Act, 1874 protects the property of a wife if the proceeds of her husband’s life insurance policy is attached to pay for outstanding loans in the event of his death or bankruptcy.
Read MoreET Wealth decodes some of the lesser-known investments and expenditures that are eligible for tax breaks.
Read MoreThe IRDAI said the order is being issued to enhance the policyholder protection and information.
Read MoreInsurance sector regulator Irdai has asked all the insurers to inform policyholders through messages on receipt of premium from January 1, aimed at protecting the interest of consumers.
Read MoreInvestors are quite often unsure about how much money they need for a comfortable retirement. If Rs 1 crore is good enough for you, here's how you can save that much money.
Read MoreThe BSE Sensex cracked below the 35,000 mark, plunging 713.53 points, or 2 per cent, to close at 34,959.72. Similarly, the broader NSE Nifty fell 205.25 points, or 1.92 per cent, to 10,488.45.
Read MoreIn a statement, Urjit Patel said it was a privilege and honour to serve the central bank and expressed his gratitude to his colleagues and directors of the RBI central board.
Read MoreVijay Mallya is wanted in India for defaulting on Rs. 9,000 crore in loans to his failed Kingfisher Airlines.
Read MoreAfter distributing 95 per cent of surplus to policyholders, balance Rs 2,430.19 crore is government’s share.
Read MoreCBDT has clarified that in the case of senior citizens, no TDS is required to be deducted u/s 194A, where the amount of such income doesn't exceed Rs 50,000 in aggregate.
Read MoreThe list of fastest growing cities is dominated by India with 17 among the top 20 cities in the world, according to a global economic research report.
Read MoreA couple can choose to split the rent or housing loan installment in any proportion depending on the salary structure to reduce the burden of the tax.
Read MoreCreating a financial safety net for a child is crucial. Plan ahead to accumulate enough
Read MorePermanent Account Number (PAN) is the tax identification number mandatory for filing income tax returns and can be applied either online or offline.
Read MoreConsidering high medical inflation, a large health cover will help protect your wealth
Read MoreBetween 2013 and 2017, standalone health insurance companies gained substantial presence in the retail segment
Read MoreIt always better to look around before settling for one. If you don’t shop around, you would never have an idea of what others are selling
Read MoreIn order to give an opportunity to the GST defaulters, the GST Council is likely to consider a one-time amnesty scheme to facilitate an exit for ‘nil’ filers and non-filers.
Read MoreMUMBAI: LIC Chairman V.K. Sharma on Friday handed over a cheque of Rs 2,430 crore as dividend for financial year 2017-18 to Finance Minister Arun Jaitley.
Read MoreBuying a health insurance policy is an important decision because you are putting your hard-earned money into it. If you are planning to buy a health insurance plan, here're 3 things you should assess carefully
Read MoreSenior members of the family need to educate the young on savings and make it fun by awarding the points if specific saving targets are met
Read MorePeople tend to procrastinate saving for their retirement since an early retirement is considered a luxury.
Read MoreMumbai, November 28: For the 2018-19 financial year, few changes were announced in the Union Budget for taxpayers. Individuals, earning between Rs 2.5 lacs to 5 lacs will have to pay 0-5 percent tax for different age groups while 20 percent tax will be applicable for individuals having an income of Rs 5 lacs to 10 lacs.
Read MoreTo make tax compliance easier, the Income Tax Department has broken down taxpayers in various groups based on their income and source.
Read MoreIt is important to know that in case an employee is staying in a rented accommodation, HRA can be claimed as tax exempt, as per the prescribed rules.
Read MoreWithdrawing PF fully or partially involves a number of rules that need to be followed. Here are some important points
Read MoreWhen buying an adequate health insurance, there are numerous factors that must be kept in mind to get the best coverage possible.
Read MoreIf you are an SBI customer, then you need to be aware of the latest steps your bank has taken or is going to take in the immediate future.
Read MoreIndians make up for one of the largest number of migrants in affluent countries. A recent report from the World Bank also showed that India was the highest receiver of foreign remittances in the world. It was $69 billion as of April 2018. This goes to show that though many Indians move to other countries in search of jobs, they have been investing in their home country.
Read MoreAs per the Income Tax Act, PAN is necessary to be quoted in various documents or transactions. However, in certain cases Form No 60 can also be used. Here's all you need to know.
Read MoreMost people wait for the tax season to set in to buy insurance policies in a bid to save tax. That's, however, not a good idea. Here's why.
Read MoreThe income tax department Tuesday said quoting of father's name in PAN application forms will not be mandatory in cases where mother of the applicant is a single parent.
Read MoreThe new Income Tax department notification says that individuals like the managing director, director, partner, trustee, author, founder, karta, CEO or office-bearer of such entities should also apply for a PAN card, in case they don’t have one, within 31 May of the next financial year.
Read MorePaytm has announced a strategic partnership with the country’s largest insurance firm – Life Insurance Corporation of India (LIC) to allow users make LIC insurance premium payments seamlessly on the platform in under a minute.
Read MoreAn FIR registered by police about a road accident is sufficient to award compensation to the victim or the family even if no formal claim petition is filed, the Supreme Court ruled last week, in a move that could significantly benefit survivors or the families of the victims.
Read MoreBuying a health insurance policy is one of the wiser ways to safeguard yourselves from the unexpected health hazards as against simply putting aside a fixed corpus.
Read MoreFinancial planning key for better retirement life
Read MoreBuying a house in the next 5-years can be termed as a well-defined goal. To achieve this, you must have your finances in place
Read MoreRemember, planning for your retirement is a continuing process. It needs a lot of introspection, discipline and your time.
Read MoreAfter retirement, many government employees choose to move to a different location, causing a huge logistical issue for them to access the Life Certificate to get their rightful pension amount.
Read MoreThe insurer must settle health insurance claims within 30 days from the day that you submit all necessary documents.
Read MoreIncome Tax on black money in India: Have you got black money? You may end up paying a big price, if yes.
Read MoreLIC Jeevan Lakshya maturity calculator: Worried about your children's education or marriage? There is one LIC scheme that may end your woes at an small investment of as little as Rs 120 per day (or Rs ₹ 43,639 annually, including GST).
Read MoreClose to 78% of the total 347 equity mutual fund schemes have registered negative returns in the last one year, with over 106 schemes giving negative returns of more than 10%
Read MoreDiwali is a time when one can spend more money and have fun. Most of us seek more money every time we spend an additional rupee. Giving less and getting more is the mantra of most millennials. We should also apply this mantra to our money matters now. Here are five small changes that you can make to make positive changes to your personal finances.
Read MoreChronic diseases like Alzheimer's, Parkinson's, AIDs/HIV infection and Morbid obesity should be covered under medical cover if a person contracts such ailments after buying a health insurance policy, according to recommendations of a panel set up by Irdai.
Read MoreDo not forget to declare your gifts while filing your income tax return (ITR). Check whether the gift you receive on Diwali from your friends, relatives or your employer is taxable.
Read MoreA personal accident policy insures you against death, permanent total disability, permanent partial disability and temporary total disability in case of an accident
Read MoreIRDAI has recently proposed new draft product guidelines for linked and non-linked life insurance policies, which are set to benefit insurance buyers substantially.
Read MoreThe Insurance Regulatory and Development Authority of India (IRDAI) has extended the revival period 5 five years from the current 2 years in respect of non-linked products.
Read MoreThe basic objective of buying life insurance is to provide maximum financial security to the dependants in case of untimely death of the policyholder.
Read MoreThe Delhi High Court has recently approved initiating prosecution proceedings against an individual taxpayer for not filing ITR and failing to respond to the tax notices sent to him.
Read MoreIf you are buying life insurance, put a plan in place for your dependants to follow, though they would still need to cover that last mile of claim settlement in your absence on their own
Read MoreYour financial health is extremely important as it determines how well you will be able to achieve your goals and ambitions, and in turn improve your quality of life.
Read MoreNot filing your income tax returns can lead to prosecution, even if you are entitled to a refund. In a recent decision, the Delhi High Court (HC) held the prosecution proceeding stands committed upon non-filing of income tax return within the prescribed due date under section 139 (1) of the Income-Tax Act.
Read MoreWhile planning your cash flow strategy for the later years, you need to ask yourself if you are creating enough to last a lifetime?
Read MoreThe launch of LIC's annuity plan and rising interest rates have reignited interest in the space. The pension, general annuity and group fund assets under management (AUM) for LIC stand at Rs 6,06,017 crore, significantly higher than those of SBI Life, HDFC Life, and ICICI Prudential Life.
Read MoreThe data also added that a growth of more than 80 per cent was registered in the number of returns filed in the last four financial years.
Read MoreNEW DELHI: The Income Tax Department has launched a major operation to investigate cases of illegal funds and properties stashed abroad by Indians and may invoke the new anti-black money law for strict criminal action in many such cases, officials said on Monday.
Read MoreIndia, Bangladesh, Vietnam, Philippines and Indonesia are the most exposed countries to natural disasters
Read MoreMUMBAI: The Employees' Provident Fund Organisattion (EPFO) office at Bandra (east) has submitted a complaint against a person masquerading as its official and attempting to dupe people, especially pensioners, of their hard-earned savings.
Read MoreHaving your house insured can protect you from financial losses caused by fire or natural calamities like flood, earthquake.
Read MoreA critical illness such as cancer is a serious health condition that has a debilitating effect on an individual’s life
Read MoreInsurance being a contract between the insurer and policyholder, it is mandatory to diligently read the documents properly before signing
Read MoreThe insured should inform the insurance company within 48 hours to 72 hours after your car meets an accident. Failing this, your claim can be rejected.
Read MoreNEW DELHI: If you thought the painful correction seen in domestic equities over the past few days has wiped off all the froth, you may be in for surprise. Market veteran Saurabh Mukherjea, often cited as among the few analysts who had predicted the 2008 global financial crisis, says the India market has 10-15 per cent more downside before it reaches fair value.
Read MoreHaving a different financial planning strategy for different stages of one’s life cycle can help simplify the task of investing for various tenures
Read MoreNo one who comes of age and lands a job can escape the inevitable – that is an insurance sales agent who comes knocking. Looking back, I am ashamed to admit that many of my not-so-proud moments came from evading unplanned encounters with relatives and acquaintances who decided to try their hand at selling life insurance.
Read MoreNEW DELHI: The rupee hit yet another record low on Monday as it closed at an all-time low of 74.07 against dollar by falling 30 paise, following unabated foreign fund outflows. The local currency opened the day at lower at 73.96 against Friday's closing level of 73.77.
Read MoreWe all are aware of the fact that each and every person in this world wants to live a happy and stable life even after the retirement. But to own such a stable and worry-free life, retirement planning is a must. But, we are so busy in our present life that we forget to think about our future and making plans for a secure retirement.
Read MoreA long term comprehensive policy is applicable only for new cars & new bikes. It covers cars for 3 years & bikes for 5 years for both vehicle damage and third party.
Read MoreIn case of mutual funds, a differential rate of taxation is applied across fund categories.
Read MoreLIC's offers both protection and savings to High Net-worth individuals (HNIs).
Read MoreFailing to plan is planning to fail—I am sure you must have heard that. But let me rephrase this old saying—Start your planning early and, you will end up reaching your goals early.
Read MoreAn over 4,600-point fall in BSE Sensex in just 25 sessions may be feeling like disaster! But wait, the worst is yet to come. At least one analyst is predicting a ‘perfect storm’ on Dalal Street in less than six weeks, and citing solid reasons too!
Read MoreLife expectancy figures may spark concerns for future retirees
Read MoreMUMBAI: A majority of millennials look at life insurance as a preferred financial instrument to invest in, to meet their financial goals, says a survey.
Read MoreNet asset value, or NAV, of most equity funds witnessed a drop in September, as Dalal Street witnessed brisk selling in stocks amid soaring crude oil prices, falling rupee and rising bond yields.
Read MoreMUMBAI: State Bank of India (SBI) has halved cash withdrawal limit on its ATM cards ahead of the festival season citing fraud precaution as a reason. The existing daily cash withdrawal limit of Rs 40,000 under the bank’s classic and maestro cards have been reduced to Rs 20,000.
Read MoreOne of the most important things these days is to buy a suitable health insurance plan for our family. But we need to understand different aspects of the policy before buying and this is where sometimes we may make a mistake. If we buy a health insurance plan either in hurry or without complete understanding of the plan it may result in unpleasant experience at the time of claim.
Read MoreNEW DELHI: An insurance company cannot deny claim in case of the murder of a person insured for accidental death unless such crimes are excepted in the policy, the apex consumer body has ruled.
Read MoreThe primary objective of a life insurance policy is to provide financial cover in the eventuality of a mishap and to provide a consistent flow of income in the absence of the breadwinner. If human life is lost or a person is disabled permanently or temporarily, there is, of course, a personal loss as well as a loss of income to the household.
Read MoreSalaried employees have several avenues to save tax. But self-employed persons do not have options like standard deduction, employee provident fund, deduction for house rent allowance, etc. However, there are some tax benefits/investment avenues available to self-employed as well.
Read MoreInvestors, who put money in equity mutual funds through systematic investment plans (SIPs) in the past one year, are sitting on losses because of the extended weakness in the stock market. Investors are losing money in 123 out of 147 actively managed equity schemes, as per data from Value Research. Small-cap funds have seen the highest fall followed followed by midcap funds and multicap funds.
Read MoreThe improved performance would be a big boost for the Narendra Modi government as it comes amid a debate over its economic record versus that of the previous Manmohan Singh administration after back-series data released recently showed that the GDP growth rate had crossed 10 per cent mark during UPA rule.
Read MoreCOIMBATORE: With the markets on a sticky wicket, investors in equity mutual funds (MF) (including ELSS or equity-linked savings schemes) have taken the exit route pulling out $3.8 billion ( Rs 27,330 crore) from equity MFs (including ELSS) in July and August.
Read MoreThe most common reason for insurance claim being denied is incomplete disclosure about the insured person.
Read MoreCentral Board of Direct Taxes (CBDT) has extended the date for income tax return filing to October 15. The decision was taken considering the demands of the stakeholders.
Read MoreBanks are sending messages to every account holder asking them to upgrade their debit and credit cards. You too must have got one such message. But there are chances that you might have ignored the message taking it for a spam. Check the message once again, it is not a spam. This one is a useful message from the bank you have deposited your money with.
Read MoreIf you frown at the amount of income tax you pay to the government, you should all the more considering saving for retirement.
Read MoreIndian market bottomed out in October 2008 and has since then rallied over 400 percent, while there are many stocks which have given 10,000-50,000% returns since then.
Read MoreNEW DELHI: The government has announced that Bank Of Baroda NSE 0.63 % , Vijaya Bank NSE 0.93 % and Dena Bank NSE -0.31 % will be merged into a single bank which will become India's third largest bank. The move follows top lender State Bank of India last year merging with itself five of its subsidiary banks and taking over Bharatiya Mahila Bank, a niche state-run lender for women.
Read MoreWith the NPS money started gushing in after the change of pension policy of the Central and sate governments in 2004, LIC has launched a new pension plan – Jeevan Shanti.
Read MoreLike their predecessors during the internet-stock boom almost two decades ago, cryptocurrency investors who bet big on a seemingly revolutionary technology are suffering a painful reality check, particularly those in many secondary tokens, so-called alt-coins.
Read MoreThe policy also provides liquidity as there is provision for loan and surrender as well for annuity options with Death Benefit.
Read MoreMUMBAI: In a recent decision, Income-Tax Appellate Tribunal (ITAT) has upheld that the benefit of “extended stay” for determining the tax residential status is available to a citizen of India or a Person of Indian Origin (PIO) who visits the country during a particular year.
Read MoreUnlike a corporate policy, which you can avail till you are working in the organisation, your own health insurance policy will remain with you as long as you keep renewing it.
Read MoreMany of us buy health insurance policy only to save tax and often fail to update ourselves on the various features of the plan being purchased. Choosing a health policy for you and your family is a serious decision and it requires you to be fully aware of the policy and its benefits.
Read MoreOnly a third in India are regularly saving for their retirement while just 33 percent of working-age respondents globally are putting anything aside for their later life, according to a report.
Read MoreAssocham said the study indicated insurance penetration in the country to have reached 3.7 per cent in 2017, from 2.71 per cent in 2001, and that gross premium had increased from Rs 3.2 lakh crore ($49 billion) in 2011-12 to reach Rs 5 lakh crore ($72 billion) in 2017-18.
Read MoreFinancial advisors often ask people to buy a health insurance at an early age in life. So without further ado, here are 5 reasons why you should by an health insurance before you turn 30.
Read MoreHDFC Bank is 2018’s most valuable Indian brand followed by one of the country’s oldest brands, LIC.
Read MorePAN (Permanent Account number) is a 10-character alphanumeric code issued by the Income Tax department to identify a tax payer, whether an individual, Hindu undivided family (HUF), a company, firm or an association of persons. The PAN card is issued under the provisions of section 139A of the Income Tax Act, 1961.
Read MoreLapsing your insurance policy, especially a term insurance plan, means your loved ones are not financially protected in the event of your death
Read MoreYou can file belated return for FY2017-18 by March 31, 2019, i.e., before the end of the current AY.
Read MoreYou may not be aware of it, but September is Life Insurance Awareness Month. Do you know the various ways in which life insurance can help you?
Read MoreFor general category, which covers all the salaried persons, the due date for filing of the income tax return is August 31.
Read MoreLIC has so far settled 300 claims under the mega farmer insurance scheme, Rythu Bandhu.
Read MoreLIC is present in 14 countries through branch offices, wholly-owned subsidiaries and joint ventures in Fiji, Mauritius, England, Bahrain, Nepal, Sri Lanka, Singapore and Bangladesh, among others.
Read MoreIf you want to claim your income tax refund, then you should keep a few important things in mind. Here is all you need to know.
Read MoreA life insurance policy is a long-term contract between the policyholder and the insurer for financial protection to the dependents if the policyholder dies during the tenure of the policy.
Read MoreExperts recommend investors to hold on to their equity mutual fund investments for a time period of at least five years
Read Moreदेश की सबसे बड़ी बीमा कंपनी भारतीय जीवन बीमा निगम (एलआईसी) ने न सिर्फ क्लेम की प्रक्रिया को आसान बना दिया है बल्कि पॉलिसी धारकों को प्रीमियम का भुगतान करने के लिए अतिरिक्त 30 दिनों का समय भी दिया है।
Read MoreLIC will not be charging interest on delay in payment of premium for Kerala people apart from creating a special cell, where officials will assist in clearing insurance claims from Kerala on top priority.
Read MoreCollects ₹29.16 crore as premium in nine months since launch
Read MoreIRDAI has asked insurers to make medical insurance available for mental health
Read MoreState-run Life Insurance Corporation of India (LIC) has once again, outnumbered private insurers in terms of the number of claims settled for individual customers.
Read MoreIndian rupee hit a record low of 70.07 a dollar on Tuesday. In its sharpest single-day fall since September 2013, the rupee had hit an all-time low of 69.93 on Monday despite the Reserve Bank of India's intervention as heavy sell-off in global currencies, including Turkish lira, fuelled demand for safe haven assets.
Read MoreFrontline indices Sensex and Nifty scaled fresh lifetime peaks in the opening deals on Wednesday.
Read MoreLife Insurance Corporation (LIC) of India’s cancer cover policy is witnessing a quantum jump in sale of health insurance. The company has sold more than 1.25 Lakh cancer cover policies so far as more than 70% of cancer affected Indians do not have any financial provision to face the rising cost of treatment which can be a few months to few years
Read MoreFinancial planning for old age cannot be planned only after retirement or at the age of 55-60. One has to prudently start saving and investing money as early as possible
Read MoreThe Life Insurance Company (LIC) considers its decision to own 51 per cent in state-owned IDBI Bank a sound business move and a good investment opportunity, Finance Minister Piyush Goyal said on Tuesday.
Read MoreNEW DELHI: In line with market expectations, the monetary policy committee (MPC) of the Reserve Bank on Wednesday hiked repo rate by 25 basis points to 6.50 per cent in its third bi-monthly monetary policy review of 2018-19. Repurchase rate, or repo, is the rate at which the RBIlends money to commercial banks in the event of any shortfall of funds.
Read MoreOccurrence of cancer, in addition to being an emotional setback, is bound to be a financial affect the family unless there is a provision for it
Read MoreRetirement is a major life transition – up there with marriage, buying a house, having children et al. It also starts a period of relaxation and frees up time to fulfil the remaining dreams of life, otherwise left unattended. However harsh it may sound, the ability to fulfil these desires hangs on the availability of money.
Read MoreOne of the most contentious issues, which is also the reason for the highest number of grievances lodged by health insurance policyholders, pertains to “exclusions” under a health insurance contract. As more comprehensive products are being introduced, the list of exclusions by insurance companies (to avoid litigation and court awards) is also growing.
Read MoreConsider relooking at your dreams and financial goals from time to time
Read MoreFancy cars, lavish homes and exotic tastes! This is typically the lifestyle we associate with the super rich. Behind all their extravagant choices, there lies distinct penny pinching habits, which are the reasons for their vast fortunes.
Read MoreThe Central Board of Direct Taxes (CBDT) has extended the due date for filing of Income Tax Returns from July 31, 2018, to August 31, 2018, for certain categories of taxpayers.
Read MoreYou just have a week left to file your income tax return (ITR). This year it becomes all the more important to file your return on time as you will be liable to pay a late fee for filing your ITR after the deadline of July 31, 2018 (unless the government extends it).
Read MoreSai Pramod bought a house in 2003, and for 10 years after that, he just focused on repaying the loan. How a plan helped him put his financial life in order
Read MoreFiline an income tax return (ITR) is mandatory for anybody earning an annual income of more than Rs. 2,50,000.
Read MoreIf you are avoiding financial planning due to complicated calculations, be it determining the future value of goals or life cover needed, here are the formulae and calculators that will ease your task, says ET wealth.
Read MoreIs Rs 1 crore insurance cover sufficient to take care of your family's financial goals in case something untoward happens to you?
Read MoreInsurance claims will not be paid for any accident if the PUC certificate is found to be invalid on the day of the accident.
Read MoreFiling your income tax return and paying the tax you are due to pay are two different responsibilities and both have to be discharged appropriately
Read MoreThe deadline to file your income tax return (ITR) for FY 2017-18 is July, 31, 2018 (unless the government decides to extend it). By filing your return on time, along with certain benefits such as carry forward of losses, you will not have to pay a late filing penalty. Remember, if you file your ITR after the deadline you will have to pay late filing fees of up to Rs 10,000.
Read MoreThe process can be quite cumbersome in the absence of efficient financial planning, and any negligence on the tax payer's part can lead to undue payment of tax
Read MoreNEW DELHI: Over 200 stocks, including Ambuja Cements, Andhra Bank, Atlas Cycles (Haryana), Bank of India and BHEL hit 52-week lows on NSE during Monday's session.
Read MoreNEW DELHI: The board of LIC, India's largest life insurer, on Monday approved the proposal to acquire a majority stake in IDBI BankNSE 1.15 %, ET Now reported.
Read MoreWith 72% of Nifty mid-cap stocks falling this year — and 28% by more than a fourth — the market is mostly in a bear grip
Read MoreLeave travel allowance and house rent allowance are two of the simplest ways in which a salaried employee can save tax
Read MoreIndia’s GDP amounted to $2.597 trillion at the end of last year, against $2.582 trillion for France
Read MoreThirty people including 22 tele-callers have been arrested by the Cyberabad police in New Delhi for allegedly cheating nearly 2,000 SBI credit card holders to the tune of Rs five crore.
Read MoreBefore you select your insurance policy, go through these 9 situations that can put your insurance claim in jeopardy.
Read MoreIf you have sold shares, mutual fund units, property or gold, you must disclose the gains in your income tax returns (ITR). Here’s how to calculate your gains and disclose them
Read MoreThe last date to file your income tax returns is nearing. As you prepare to file your returns you should know the changes that have been incorporated in the tax filing form by the Income Tax department in the returns forms for the current year. In case you do not comply with the new requirements you are at risk of getting a notice from the tax department.
Read MoreLife insurance is the most secure way to provide safety to your loved ones. However, choosing the right insurer is not an easy job.
Read Morehe panel has proposed that all betting and gambling activities should be linked to the operator’s and participant or player’s Aadhaar Card/PAN Card, to ensure "enhanced transparency and state supervision".
Read MoreInvest in residential real estate only if you have the patience and the staying power to play a very long waiting game for returns
Read MoreIncome Tax rules require the legal representative to pay tax and file ITR in case property is inherited from the deceased. This article discusses in detail the various tax compliances arising after the death of a person.
Read MoreInvesting in the name of parents and parents-in-law can not only help save tax but also ensure higher post-tax returns on investment.
Read MoreHere are a few seemingly less important things that all salaried individuals should take in account while filing their income.
Read MoreMany taxpayers are not aware of some deductions.Read on to see how you can maximise your tax breaks.
Read MoreThere’s a lot of confusion, especially among those whose income falls below Rs 2.5 lakh per year, about whether there they need to file an ITR or not. Here are the advantages of filing returns.
Read MoreBitcoin’s meteoric rise last year had many observers calling it one of the biggest speculative manias in history. The cryptocurrency’s 2018 crash may help cement its place in the bubble record books.
Read MoreIRDAI has given its nod to LIC to hold upto 51 percent stake in IDBI Bank
Read MoreHere is a look at the taxes that apply to short-term and long-term gains from gold and real estate investments
Read MoreLife Insurance has several benefits. We often ignore how valuable it can be because of the unawareness. Here are reasons why you must cover yourself under a life insurance today.
Read MoreThousands of retirees are withdrawing too much money from their pension during periods of stock market volatility, leaving them with a potential savings shortfall later in life, a report has warned.
Read MoreThe maximum inventories are in 1 and 2 BHK configurations totaling 5,87,500 units. In sales, configurations of one and two bedrooms were the most sold and contributed over 85 per cent of total sales.
Read MoreMUMBAI: The government is looking at selling a strategic stake in IDBI Bank to Life Insurance Corporation (LIC) of India. The proposal is part of a plan to professionalise the state-owned lender using the Axis Bank model, which has been mooted for a long time.
Read MoreThere is a common dilemma among people about the right age to buy a health insurance policy.
Read MoreAn insurer’s claims settlement ratio and lapse ratio alongwith average productivity of its insurance agent tells how efficient an insurer is
Read MoreRepo rate is the rate at which the Reserve Bank lends money to commercial banks when there is a shortage of funds
Read MorePreparing to retire whether close or far, becomes manageable when you take these things into consideration.
Read MoreLIC holds on an average 21.7 per cent in the consumer companies of the BSE 200, the second highest holding among all sectors after media.
Read MoreIt is important to undertake some cardio activity 3 times a week for 30 minutes to stay fit and healthy. Also before starting any such routine, consult your doctor and check all your medical parameters to begin the most suitable schedule for yourself.
Read MoreFiling of the income tax return is important because it is the documented proof of your income. However, you cannot file your return without some documents.
Read MoreTrump's new proposal calls for a 10 per cent tariff on $200 billion in goods, and Beijing said it would respond with "comprehensive measures." It doesn't import enough goods from the US to match the scale of Trump's proposal but could adopt other methods.
Read MoreIt is mandatory to file ITR if gross total income of an assessee exceeds the maximum exemption limit
Read MoreHow many Indians are covered by life insurance? According to Irdai’s Handbook 2016-17 (Table 9A), 32.81 crore of policies are in force in the books of life insurance firms in India.
Read MoreThe Life Insurance Corporation of India, on sympathetic grounds, disbursed around ₹3.35 lakh in insurance claims to the wife of a TNSTC bus conductor who was killed in an accident, along with eight others, along the Ooty-Coonoor Road near Manthada, a few days ago.
Read MoreIf your car had no brakes, most of you would prefer not to risk driving it. Brakes are those safety nets that allow us to peacefully go about our business without being overly worried about what would happen to our financial commitments (which we would have ordinarily honoured in our life time) to our dependents, if we were to pass away unexpectedly.
Read MoreLife Insurance Corporation of India (LIC) bettered the industry growth average by registering 16% year-on-year growth at Rs 2,494.7 crore, data from Kotak Institutional Equities showed.
Read MoreIf President Trump and Kim Jong Un come closer to an agreement, Chinese stocks are particularly poised to benefit, according to CNBC analysis using Kensho, a quantitative analytics tool used by hedge funds. When worries about North Korea's nuclear threat escalate, European and emerging market stocks are among the worst performers, according to Kensho.
Read MoreET Wealth reached out to financial planners to understand how much Indians need to save at various ages to ensure a comfortable retirement.
Read MoreTelangana Chief Minister K Chandrasekhar Rao addressing the preparatory meeting on farmers life insurance at Hitex in Hyderabad on Monday.
Read MoreBorrowers who were hoping for respite from high interest rates will have to wait a little longer. In its bi-monthly monetary policy held on Wednesday, the Reserve Bank of India (RBI) hiked the repo rate by 25 basis points. With the announcement, the repo rate now stands at 6.25%. Along with this reserve repo rate has also been hiked to 6%.
Read MoreIndian insurance companies lack the underwriting expertise to offer title insurance products.
Read MoreMint speaks with four experts for their opinion on how much health insurance cover is necessary and the most efficient way to buy it
Read MoreInsurance companies offer a wide range of specialised travel insurance plans such as family floater, senior citizens, students and multiple trips plans for business travelers.
Read MoreStocks hitting a fresh 52-week low when the benchmark index is 4-5 percent below its record high clearly denotes their (stocks’) feeble nature.
Read MoreTo help with retirement savings, traditionally, in any country, there is a three-tier or three pillar retirement framework.
Read MoreHealth insurance is essential in today’s day and age and it is imperative to be adequately insured keeping in mind the increasing medical inflation and growing incidence of lifestyle diseases. It is therefore advised to buy a health cover early in life, say, by 30 or 35 years, so that one can serve the respective waiting periods when in best of health and utilise the policy when it is needed.
Read MoreMost of the income tax notices that you may get are routine and there’s no need to worry if you have not hidden your income and filed your returns
Read MoreGiven that the self-employed have irregular income, it is essential to have adequate emergency funds, life and medical insurance
Read MoreFor budgeting, they have to take into account all costs related to child with special needs, including tutoring, transportation and therapies.
Read MoreAs the new financial year has already begun, people have started mulling over where to invest and how to save tax during this year. Here are the key tax changes which may impact your cash flows and investment decisions for FY2018-19.
Read MoreAccording to financial experts, while having more than one health insurance policy cannot be seen as a necessity, it can certainly provide some additional benefits.
Read MoreThree reasons why women should save more are - they earn less, they work for fewer years and they have higher life expectancy According to the 2011 Census, there were nearly 74 million single women in India- a section which should be proactive about handling finances
Read MoreThe EPFO had provided 8.65 per cent interest for 2016-17. The members got 8.8 per cent in 2015-16 and 8.75 per cent each in 2014-15 and 2013-14
Read MoreYou may be a couple of years or decades away from your retirement, but it's imperative to plan and save for retirement, much in advance. Planning for retirement may seem an arduous task, but if done properly, will make your retirement stress-free and enjoyable!
Read MoreWhich of these financial instruments are a safe bet post #Budget2017?
Read MoreIf you are a 25-year-old working woman, retirement planning is probably the least of your priorities. Yet, it should be the topmost. Not just because it’s a crucial goal but also because you are a woman.
Read MoreThe concept of owning a life insurance arises when one wants to replace potential income loss that his/her family could suffer from in their absence.
Read MoreAccording to the AfrAsia Bank Global Wealth Migration Review, the US is the wealthiest country in the world with a total wealth of $62,584 billion, followed by China ($24,803 billion) at the second place and Japan ($19,522 billion) at the third place.
Read More10 stocks in LIC’s portfolio that have emerged as multi-baggers in the last one-year
Read MoreAt times when household budgets are spread thin, investing a part of your hard-earned money towards life insurance might seem unnecessary.
Read MoreHere are some tax planning tips for every age group When it comes to personal finance, people are generally lazy, leaving tax planning – probably one of the most important aspects of financial planning – until the last minute. Moreover, young Indians are the laziest of the bunch. On average, Indians are probably paying more tax than they need to.
Read MoreRetired people, after starting the second innings of their life, look out for steady regular income from their investments.
Read MoreIt is perfectly legal to buy and hold more than one life insurance policy. Your beneficiary can rightfully claim from all the life insurance policies you hold in the unfortunate event of your death. Multiple policies offer an extra level of protection that a single plan might not necessarily provide you.
Read MoreIn India, there are numerous secrets to saving tax that only the most prudent investors know. Here’s what women need to know about the tax benefits they can avail.
Read MoreThe study highlights that one of the major causes of cancer is tobacco, which is related to 24.4–65.2 per cent of cancer in males and 6.9– 42.3 per cent of cancer in females in India.
Read MoreFinancial Planning is a concept most of us are not aliens to but it's still essential for us to teach children essential money lessons early in life which will hold them in good stead in the future. Let's take a look at 10 key values that you should pass on to your kids.
Read MoreBecause love alone won’t suffice! Marriage is a partnership in every sense. It means sharing time, extending emotional support, getting rich, and growing old together.
Read MoreHealth insurance policy can help you save tax as per Section 80D of the Income Tax Act. The upper limit of this deduction is Rs 25,000 for individuals and Rs 50,000 for senior citizens.
Read MoreHere is a look at the taxes that apply to short-term and long-term gains from these two asset classes—gold and real estate
Read MoreDSP BlackRock Investment Managers is a 40:60 joint venture between BlackRock and DSP Group
Read MoreSenior citizens can now invest up to `15 lakh in the pension scheme to get Rs 10,000 a month for 10 years and protect against any fall in the interest rate
Read MoreMutual funds may have gained currency after demonetisation, but most investors still look at mutual funds only as a short-term bet. According to an AMFI report, only 30.40 per cent investors in equity mutual funds stay invested for more than two years. This data is as on March 31, 2018. AMFI releases this report every quarter.
Read MoreThere can be varied reasons for which I-T department can send a notice, but if you get one, stay calm and then decide on the response.
Read MoreNew Delhi: In a relief to senior citizens, the Centre on Wednesday doubled the investment limit to Rs 15 lakh under the Pradhan Mantri Vaya Vandan Yojana (PMVVY) pension scheme and extended the subscription period, which was to end on May 3, by two years.
Read MoreNational insurer Life Insurance Corporation has registered a 13.46 per cent rise in first-year premium (FYP) income, collecting an all-time high income of Rs 1,34,551.68 crore in FY18, and ending the year with a market share of 69.40 per cent, the company said today.
Read MoreIf you nominated someone, then this individual known as a nominee, acted as a trustee but had no ownership over the claim amount. It did not automatically indicate that s/he would receive the death claim.
Read MoreLiving a financially-secured retirement life requires strong and disciplined financial planning for a significant period of time to build an adequate retirement corpus. Unfortunately, that is not done in most cases!
Read MoreTax is deducted at the prescribed rate by the tax department if the permanent account number (PAN) is provided by the recipient of income or at the rate of 20% or at the maximum marginal rate of 35.88% in the absence of PAN
Read MoreWhere there’s a will, there’s usually someone ready to contest it. Where there’s none, someone is ready to fight over the inheritance anyway.
Read MoreIndia’s biggest domestic institutional investor Life Insurance Corporation (LIC) was on a major shopping spree on Dalal Street this March quarter, even as the broader market weakened thanks to a series on domestic as well as global headwinds.
Read MoreSome of you might wonder that you haven’t received your Form 16 yet and, also, there is ample time for income tax filing for FY2017-18, then why to start getting prepared for the same at this point of time? Here are the reasons.
Read MoreIt is a myth that life insurance provides only death benefits, conversely; it is much more than that. Life insurance is a risk protection vehicle through which people can insure themselves against the inability to work, set aside money for retirement or protect themselves against the loss of their assets.
Read MoreLIC's western zone, which has been the flagship for the Corporation from the beginning, has sold a record Rs 9,002 crore in new premium in FY18, adding 3,463,582 new customers, the life insurance giant has said.
Read MoreIn the wake of the Income Tax Department's warning to salaried taxpayers, you not only need to be tax-compliant, but also need to file your I-T returns carefully if you want to avoid the wrath of the taxmen.
Read MoreOne of the biggest mistake people make when it comes to buying a health insurance policy is purchasing it simply based on the price of the policy.
Read MoreThe west zone, comprising Maharashtra and Gujarat, have taken 26,280 policies
Read MoreLIC held equity assets (including shares and mutual funds) worth Rs5 trillion at the end of December, and the trading profits are 5% of assets under management
Read MoreA study of 1,000 senior citizens conducted by LendEDU in the US reveals the biggest regret among elders is not saving enough for retirement.
Read MoreIf you buy a home and you have no life insurance, there may be a financial risk. It may not be immediately evident, but it should be acknowledged and addressed.
Read MoreBefore filing the income tax return for FY2017-18, we need to take cognizance of the latest changes in the tax rules to enable ourselves to file tax returns correctly.
Read MoreIf you want to save tax and also avoid the wrath of the taxmen, then you are required to do a number of things throughout the year to achieve your goals and be tax-compliant. Here are some top tasks you need to complete in FY18-19.
Read MoreAt a time when corporate loan growth has slowed down, retail loans have reached a new high, at 25% of overall loans in February, as per RBI data.
Read MoreHYDERABAD: Starting early is the golden rule when it comes to investing for life after retirement. However, several factors, including the burden of past debts, family responsibilities and lack of financial disciple keep it out of purview for some.
Read MoreAt this stage of life, a financial mistake can be detrimental to you and your family's future, as you may not have much time to recuperate.
Read MoreMarch 31, 2018 was the deadline to file income tax returns (ITR) for the financial year 2015-16 and 2016-17. In case you haven't filed your ITR for FYs 2015-16 and 2016-17, you cannot file a belated return anymore.
Read MoreThe new ITR form mandates salaried class assessees to provide their salary breakup and businessmen their GST number and turnover All the seven ITRs are to be filed electronically except for some category of taxpayers The last date for filing the ITR is July 31
Read MoreIt is commonly believed that the start of the financial year is the correct time to start tax planning. However, it is the March quarter when most salaried individuals undertake the process. An activity that requires great thought is unfortunately carried out in a hurried manner. Most people invest in tax-saving products without evaluating their features and understanding their benefits.
Read MoreYou can buy a health insurance policy up to the age of 65 years. Once the proposal is accepted, there is no exit age provided the policy is continuously renewed
Read MoreAs we step into the new fiscal year, it is imperative that we plan our finances. Let us review the key changes which may impact the cash flow and investment decisions for FY2018-19.
Read MoreThe income tax return may also be required as documentary evidence for any application for visas or for loans, etc.
Read MoreApril being the start of the financial year has great significance when it comes to managing your personal finance. It’s that time of the year to give special attention to accomplishing specific financial tasks, and set the new year’s financial strategy in place.
Read MoreAll of those can affect a person’s ability to, first, devise a consistent plan for their retirement goals, and secondly, accumulate the necessary capital to provide ample retirement income. hieve them. Meanwhile, costly mistakes can be made that will have implications down the road.
Read MoreFrom April 1st 2018 onwards, transporters and businesses have to be caution to carry Electronic or E-way bill for the movements of Goods. The businesses that carry goods having a worth more than 50000 should have to keep E-way bill for inter-state movements of goods.
Read MoreFrom tomorrow, a large number of Indians will see significant changes in their financial life. April 1 is the first day of the next financial year, 2018-19. The Budget proposals for the new financial year, announced on February 1, will come into force from tomorrow. Below are the key changes which are going to affect individuals as well as companies:
Read MoreA belated return (which means an I-T return which is filed late beyond its original due date) can now be filed before the expiry of twelve months from the last day of the financial year To create public awareness, a series of advertisements were rolled out, says an I-T official
Read MoreMarch 31st is just a few days away. This means that many of your financial tasks, which you could not complete during the year, need to be completed during the next few days. Here's what you must do.
Read MoreAccording to section 139 (1) of the Income Tax Act, 1961 of India any person whose total income during the Financial Year is more than the maximum amount not chargeable to tax, should file their income tax returns (ITR).
Read MoreLife is short and we have so many responsibilities to fulfill in this short life. No matter how much we try, in order to win something we have to lose something, this is the philosophy of life. But, what will you achieve if there will be no life? An insurance policy is the best way to stay alive even after death for your loved ones.
Read MoreWe have exceeded current fiscal target of Rs 38,000 crore by achieving 12-15 per cent growth in the premium income in the individual segment. We will have a premium income of around Rs 42-43,000 in this segment by the end of the current fiscal,
Read MoreIrdai has directed insurance firms not to reject any health insurance claim based on exclusions related to genetic disorder. This follows Delhi High Court’s judgement that the exclusionary clause of genetic disorders in the insurance policy is ambiguous and discriminatory.
Read MoreFor many companies the last date that employees can submit their investment proofs, so that excess tax is not cut, is March 10. Those who miss this deadline will find that more tax is deducted at source (TDS) from their March salaries. However, if you are among those who have not yet provided your investment proofs, there is a way out.
Read MoreNEW DELHI: The Lok Sabha on Thursday passed the Payment of Gratuity (Amendment) Bill which seeks to empower the government to fix period of maternity leave and tax-free gratuity amount with an executive order.
Read MoreOn the surface, the modern-day woman appears more powerful than ever before – strong, career-orientated and independent. Yet, when it comes to their financial situation, it appears they are increasingly exposed to difficulties.
Read MoreNEW DELHI: With the onset of March every year, tax planning and saving become a primary concern for all. While a good financial plan begins from the first day of a financial year, if you have not been able to follow one, there is still some hope for you before it comes to an on March 31st.
Read MoreHere are three primary reasons why you should start tax planning right from the time the new fiscal year starts.
Read MoreAnnuity products are the only financial instruments that provide long-term, open-ended guarantees in the form of a fixed income for a lifetime.
Read MoreLife insurance firms reported an increase of about 27 per cent in new premium collection in February at ₹13,698.52 crore, data from insurance regulator IRDAI showed on Wednesday.
Read MoreLife insurance is a necessity for anyone who has financial dependents.
Read MoreIn a major relief to those who still haven't linked their Aadhaar cards with bank accounts and mobile numbers, the Supreme Court on Tuesday extended the deadline from March 31 indefinitely till the final judgement in the controversial case.
Read MoreWhile government does not consider cryptocurrencies legal tender, it will explore use of block chain technology proactively for ushering in digital economy
Read MoreIncome tax returns (ITR) filing: Tax planning is a continuous and meticulous process. It is always advisable to keep things in order before the tax filing season begins.
Read MoreWhether you are buying life insurance or general insurance (non-life insurance products like health and motor insurance plans), it is wise to ask yourself a few pertinent questions for a better understanding of how different types of insurance plans work.
Read MoreThe primary purpose of having a life insurance cover is to help the surviving family members maintain the same standard of living after one's death. This would require adequate protection to the nominees so that they are financially secure even after the bread earner's death.
Read MoreLong-term capital gains exceeding Rs. 1 lakh arising from redemption of mutual fund units or equities on or after April 1, 2018 will be taxed at 10 per cent.
Read MoreThe exposure draft said that in case of vintage cars, a discount of 50 per cent would be allowed for private cars certified as 'vintage cars' by Vintage and Classic Car Club of India. There is a proposal to reduce the third-party premium on in certain category of vehicles (four-wheeled) used for carrying passengers.
Read MoreWith so many car insurance companies around us, one has to wisely pick up the best policy that balances premiums against coverage.
Read MoreMoney has delighted us, but also confounded us for quite a while now. For most part of our life, we are either thinking, earning or spending it. But why have men been traditionally better at handling finances, is a question worth looking into!
Read MoreTerm insurance plan covers the life in a very efficient way. If there is a risk of death, the lump sum will be paid to the nominee. However, certain kinds of deaths are not covered by the term plan in India.
Read MoreNEW DELHI: Fag-end selling in domestic equity market wiped off nearly Rs 2 lakh crore in investor wealth on Tuesday. The BSE Sensex tanked 429.58 points, or 1.27 per cent, to 33,317.20, while NSE index Nifty50 plunged 109.60 points, or 1.06 per cent, to 10,249.
Read MoreAccording to the U.S. Census, millennials accounted for more than 25 percent of the population in 2015, yet this significant segment of the workforce might not be prepared for retirement.
Read MoreIf the bank goes into liquidation, the deposit insurance and credit guarantee corporation (DICGC), which is an RBI subsidiary pays up to Rs 1 lakh to the depositor either directly or through a liquidator.
Read MoreLIC has been the driver of growth for the life insurance industry for the last two years and projects 15-17% growth in FY18.
Read MoreRetirement and Child education planning are two important aspects of financial planning for every individual. It is essential to understand that both hold their own importance in your financial portfolio at different life stages.
Read MoreThe Nirav Modi-PNB scam explained: how it was pulled off, how it came to light, and what we still don't know.
Read MoreAccording to media reports, PPIs were feeling that the KYC requirement was very challenging and if the guideline were to be implemented, they feared losing business as 90 per cent customers have been onboarded using the minimum KYC, which is giving the telephone number.
Read MoreLife insurance policies are better designed to pay the benefits at critical milestones in a child’s career by providing cover against the risk of death and ensuring that child’s education is fulfilled under all circumstances.
Read MoreOne of the most confusing parts of financially securing your future is selecting the right insurance product that suits your needs.
Read MoreThough their interest rates have been falling since April 2016, popular schemes like Public Provident Fund (PPF) still remain the most sought after investment option to create a tax-free nest egg.
Read MoreRental income from house property situated in India is liable to income-tax in India
Read MoreThere are many reasons that can easily tell the importance of having a private health insurance for young couples
Read MoreBesides, the loan processing cost, interest rates on loan, documentation for loan against life insurance are quite less and hassle-free compared to taking a personal loan.
Read MoreA nominee is just the receiver of the money. He has to eventually hand over the monies to the legal heirs.
Read MoreIn a major policy initiative to protect the savings of the investors, the Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval to introduce the following bills in the Parliament:- (a) Banning of Unregulated Deposit Schemes Bill, 2018 in parliament & (b) Chit Funds (Amendment) Bill, 2018
Read MoreEven as LIC’s gains in value of portfolio is mostly on account of rise in markets (as its overall holding percentage has come down), in the quarter ended December 2017 LIC held more than 1 per cent stake in 327 companie
Read MoreNew business performance by the corporation for nine months ended December 2017 has shown an impressive growth of 19.47 per cent with its first year premium netting Rs 99,783.33 crore.
Read MoreHyderabad: Public sector insurance companies have stated that they will only reimburse bills if the laboratory reports are countersigned by a registered medical practitioner.
Read MoreInflation is invariable in a growing economy like India. You can see this is in all fields. Health costs have spiralled a lot since the last decade. Coupled with the fact that people are falling sick more often, it becomes imperative to have adequate health insurance cover in place.
Read MoreSaving for retirement, for most people, is their largest financial challenge in life. While many people understand the importance of building up a retirement nest egg, and contribute a portion of their monthly salaries towards this goal – they do not always know if they will end up with enough money in retirement.
Read MoreMUMBAI: The country’s largest lender State Bank of India shocked the Street when it reported a massive quarterly loss on the back of spike in provisions due to bad loan divergences and hardening of bond yields which led to treasury losses.
Read MoreMany people do not buy insurance for their retirement years. However, as insurance is a cover for unexpected events; it is going to become more crucial to us especially after the earning phase is over
Read MoreCBDT chairman Sushil Chandra has said that Income Tax Department has issued about one lakh notices to people who have invested in crypto currencies like Bitcoin A panel set up by the government to look into issues relating to cryptocurrencies is expected to submit its report by March 31
Read MoreAmid controversy over the government proposal to tax long term capital gains from equities, RBI Governor Urjit Patel said on Wednesday that there are five different levies on capital which impact investments and savings.
Read MoreThe measure, introduced in the latest Financial Bill, is aimed to provide relief to small and salaried class of taxpayers and aims to ease out issues of small discrepancies that sometimes crop up between the information on Form-16 (provided by the employer) and Form-26AS (tax credit statement received by the tax department).
Read MoreInvestor sentiment has remained sluggish after the government announced in the Budget a proposal to levy 10 per cent long-term capital gains (LTCG) tax on equities and projected a fiscal deficit of 3.5 per cent of GDP for 2017-18.
Read More"Now bitcoin crashing below 8000, headed towards 7000. Down 60% from the peak, 40% in a month and over 10% today. The Mother of All Bubbles and Biggest Bubble in Human History Comes Down Crashing," he wrote on the micro-blogging site.
Read MoreTax exemption limit on interest income from bank savings deposits and post office schemes has been raised to Rs 50,000 from the existing Rs 10,000 LIC scheme, for seniors above 60 years of age, was started in 2017 for one year, but has now been extended to March 2020
Read MoreImposition of long term capital tax at the rate of 10% has spooked the Indian markets, Sensex and Nifty. Both market indices are in red despite the fact that they were considerably higher in run up to the Budget Speech in morning .
Read MoreTax experts say that reintroduction of standard deduction will help salaried employees get some parity with respect to businessmen and other self-employed professionals, who can claim a number of expenses such as rent, staff expenses and driver's salary etc. as business expenditure and reduce tax burden.
Read MoreSalaried employees have always complained about receiving salary after high deduction of income-tax while professionals are able to claim all sort of expenses and offer only the net profit to taxes.
Read MoreBudget 2018 has proposed to hike cess on income tax from 3% to 4% thereby increasing the tax payable by all categories of tax payers.
Read MoreFinance Minister Arun Jaitley introduced a number of changes that will impact the income tax you pay, ranging from taxing long-term capital gains on investment in stocks and equity mutual funds to change in cess on income tax.
Read MoreFrom a mind boggling 97.75 per cent as the highest tax rate and 11 tax slabs, to 30 per cent as the highest rate and three slabs, India and its taxpayers have come a long way since Independence.
Read MoreIndia has been ranked sixth in the list of wealthiest countries with total wealth of USD 8,230 billion, while the United States topped the chart, says a report.
Read MoreData from the Life Insurance Council showed that LIC had collected Rs 99783.33 crore of first year premium for April to December period
Read MoreWith the ongoing buzz around the upcoming Budget 2018, taxpayers are concerned about the new income tax slabs that will be announced on February 1 as these slabs would determine the amount an individual will have to pay as taxes on their income in FY19.
Read MoreCHENNAI; The Economic Survey 2018, released on Monday, said insurance penetration -- the ratio of premium underwritten in a given year to the gross domestic product (GDP) -- in India increased to 3.49% in 2016-17 from 2.71% in 2001.
Read MoreAccording to a survey by GoBankingRates, India is cheaper than its neighbouring countries like Colombia ranked at 13, Pakistan (14), Nepal (28), Bangladesh (40).
Read MoreOverall, LIC hiked its stake in 40 companies in Q3.
Read MoreA limit for standard deduction was set at Rs 20,000 for those earning above Rs 5 lakh.
Read MoreThe insurance regulator has spelt out strict turnaround timelines on claims and penalty on violation, under the Protection of Policyholders’ Interests Regulations of 2017
Read MoreLess than one-third (29%) of households have at least one usual member covered under health insurance or health scheme, shows National Family Health Survey
Read MoreIf whispers are to be believed, the coming Budget will be Finance Minister Arun Jaitley's most populist one yet. He is widely expected to hike the personal income tax exemption limit-and some are optimistically predicting that the ceiling will be pushed up to Rs 5 lakh-so India waits with bated breath.
Read MoreEmployers in India provide group health insurance plans to their employees as a part of the employment benefits. An employee health insurance policy ceases to exist once the employee quits the job or transfers to another company.
Read MoreIf you are residing abroad and want to invest in a life insurance policy for your family, you are entitled to do so, irrespective of whether you are currently a citizen (of India) or not.
Read MoreBitcoin, the cryptocurrency that has become the craze all over the world, is a hit with a lot of Indians too. More than $3.5 billion worth of transactions in the cryptocurrency have been conducted in India over a 17-month period, according to the income tax department.
Read MoreIt is that time of the year when taxpayers are looking for options to save their income tax liability as individuals have to make the investment before March 31, 2018 to claim the deduction in the financial year 2017-18.
Read MoreFrom preparing a financial plan to automating bill payments to reducing your debt burden, each plays a big role in ensuring good financial health
Read MoreEver wondered, why there is so much fuss about term plans? After all, isn’t term plan just another life insurance? Is there any difference between a life insurance and term insurance? For many of us, the relation might sound so obvious that we may never have bothered with the difference.
Read MoreCHENNAI: Over two decades back, doctors at Tata Memorial Hospital, Mumbai, noticed that most gall bladder cancer patients were from the Gangetic belt states of Bihar, Uttar Pradesh or West Bengal.
Read MoreBuying insurance is crucial for protecting your prized assets from any financial loss. Since insurance is essentially a contract between the policyholder and the insurance company, buyers must do the due diligence of the insurer, not just the product.
Read MoreLife may throw up many uncertainties, but you can shield yourself against most of them. Here’s how
Read MoreSetting aside time to focus on money habits can make a huge impact on short-term financial health and provide just the motivation to kick bad habits, get your finances in order, and keep them that way.
Read MoreNEW DELHI: A committee appointed by the government last year to examine issues related to cryptocurrency has submitted its report, a senior law ministry official said on Thursday.
Read MoreHYDERABAD: With the real estate market yet to recover from disruptive reforms such as RERA and GST, new launches in the housing sector fell 41 per cent in 2017 compared to 2016, according to a new report by Knight Frank India.
Read MoreMUMBAI: Reforms like the Rera and GST and also the note-bank impact led to a steep decline in home launches in 2017, which plunged a full 78 per cent, say a survey.
Read MoreHere are some factors that impact the rate at which your savings grow each year
Read MoreMumbai: LIC continues to be ahead of private life companies in paying out claims with a settlement ratio of 98.31% for FY17. Private life insurers have improved their claim settlement ratio 93.72% compared to 91.48% during the previous year.
Read MoreClaim Settlement Ratio is the total number of death claims approved by an insurance company in a financial year. While LIC paid claims on 7,56,399 policies, ICICI Pru Life settled 10,539 policies in FY17. HDFC paid claims on 12,421 policies in the same time period.
Read MoreThe LIC magic: Zero pending complaints and best claims settlement Of every 100 death claims filed by families of deceased, 98.31 percent of them are passed
Read MoreWhen you are young and healthy, your risk to health insurance companies would be less and hence premium would be lower.
Read MoreThe move could be part of a strategy to encourage people to save more in financial instruments.
Read MoreThe Finance Ministry today clarified that the government was not closing 8 per cent saving bonds but replacing it with 7.75 per cent Savings Scheme. The clarification comes a day after the Ministry announced that it would stop the subscription for Savings (Taxable) Bonds from January 2.
Read MoreA budget can help you standardise your fixed and variable expenses whereby you can easily generate some savings too.
Read MoreMake a resolution this year to improve your spending habits and save more.
Read MoreThe Finance Ministry on Monday said it will close subscription percent Government Savings (Taxable) Bonds, 2003, with effect from Tuesday.
Read MoreAlso, insurers are asked to ensure the easy availability of Motor TP Insurance and in no case can a request for a TP cover be denied.
Read MoreSmall savings schemes public provident fund (PPF) and national savings certificate (NSC) will now have an interest rate of 7.6% while kisan vikas patra (KVP) will yield 7.3%
Read MoreBitcoins or cryptocurrencies are new buzzwords both for investors and tax authorities.
Read MoreThe finance ministry has asked PSBs to discuss consolidation of overseas branches and take a final call on closing some unviable operations
Read MoreThe Income Tax department of India has issued notices to 400K-500K HNIs indulged in Bitcoin trading under the annexure to summon under Section 131 of the Income Tax Act. The IT department issued these notices to understand the sources of their income in order to link the same with their gains in Bitcoin trading.
Read MoreAt the risk of contradicting popular belief, I truly think that life is not a series of accidents waiting to happen. Life is full of certainties - the certainty of marriage, having a child, educating the child, retiring, etc. Instead of worrying about things that most likely won’t happen, it’s important to focus on life events that certainly ‘will’.
Read MoreToo many imperil their sunset years by not planning for it. It takes more than a wing and a prayer.
Read MoreTraditionally, life insurance policies were developed to financially protect the insured from death. The beneficiary of the insured would be offered a death benefit in the face of such an eventuality. However, in the latter part of the 20th century, life insurance products have evolved to take on a new purpose.
Read MoreMUMBAI: State-owned Life Insurance Corporation (LIC) today launched 'LIC's Jeevan Shiromani', a non-linked, with profit, limited premium payment money back life insurance plan especially designed for the high net-worth individuals segment.
Read MoreMumbai, Dec 19 (PTI) State-owned Life Insurance Corporation (LIC) today launched LICs Jeevan Shiromani, a non-linked, with profit, limited premium payment money back life insurance plan especially designed for the high net-worth individuals segment.
Read MoreYou have finally bought a term insurance plan to secure your family's future in case something happens to you. You have also covered the entire family with a comprehensive health plan to take care of their medical expenses. But have you prepared yourself for the worst?
Read MoreAadhaar linking deadline has been extended by the government. An order modifies the law on Prevention of Money Laundering, saying Aadhaar, PAN and Form 60 can be submitted by "such date as may be notified by the Central Government".
Read MoreDespite the costly treatment, the girl unfortunately did not survive. Indians everywhere took note of how trying this was for the family.
Read MoreHaving an active health insurance policy will help an insured member get adequate and timely healthcare treatments and services in India. Health insurance covers the hospitalisation expenses incurred by an insured member during the policy period.
Read MoreMUMBAI: In perhaps the biggest-ever investment cheating case in the city, the economic offences wing (EOW) took over the probe in PanCard Clubs (PCL) case where more than 50 lakh investors were allegedly duped of approximately Rs 7,035 crore.
Read MoreRaise the amount of life cover you own if your liabilities and responsibilities have increased during the year
Read MoreIndians are more likely to have a vehicle or life insurance than health insurance, according to a survey by private research firm, Chrome Data Analytics and Media (CDAM). Only 31% of Indians had medical policies independent of those provided by their employers in spite of nearly half the survey respondents admitting to having faced a “financial emergency” due to medical needs.
Read MoreIf you are a first time home buyer, you can claim income tax benefit under Section 80EE of Income Tax Act. You can claim income tax deduction on home loan interest paid. But the amount allowed for deduction is up to maximum Rs 50,000 per financial year under this Section.
Read MoreBuying life insurance policy has become imperative for people today. Almost everyone around us is opting to buy life insurance plan to ensure their family is safeguarded against any unforeseen financial problem, when they no longer would be around to cater to their loved ones’ needs.
Read MoreAdvance tax, also known as "Pay as you earn tax" is payable in installments within the due dates set by the IT department. As the name suggests, advance tax is paid in advance, instead of a taxpayer making a lumpsum payment at the end of the financial year.
Read MoreLife Insurance Corporation of India (LIC) on Tuesday said it had invested Rs. 44,000 crore in the equity markets between April-November this year, a rise of 52% over the year-earlier period.
Read MoreThe country's largest insurer collected Rs 1.48 lakh crore of total premium for the first six months of this fiscal, showing a growth of 12 percent. The new business premium grew by 23.7 percent in the period to Rs 68224.29 crore on a year-on-year basis.
Read MoreA third warning by the RBI against the use of Bitcoins and virtual currency was flagged today.
Read MorePunjab and Haryana high court has ruled that if a vehicle registered and insured in India meets with an accident in another country, the insurance company would be liable to pay the claim.
Read MoreRetirement planning must be a continuous process with an appropriate asset allocation strategy comprising equity, debt, gold, real estate and even alternative investments.
Read MoreOne of the most important stock market participants is making a case for reinstating of long-term capital gains (LTCG) tax on equity investments.
Read MoreIf you are aged above 30 and looking for regular income at a fixed rate for the lifetime then you have the last chance today to buy LIC's flagship annuity plan Jeevan Akshay VI, which is a high-yield (annual yield of 7.5 per cent) annuity product.
Read MoreLIC has seen massive inflows into this product, which offers returns that are half a percentage points more than the 10-year government securities.
Read MoreCountry’s biggest institutional investor Life Insurance Corporation of India (LIC) has been busy through this year booking humongous profits on its equity portfolio.
Read MoreJeevan Akshay VI is a debt product and suits conservative investors looking for predictable returns for their entire lifetime.
Read MoreThe figure marked a 23.8% increase over the Rs10,900 crore in trading profit that LIC earned in April-September 2016 by selling equity holdings
Read MoreThe recapitalisation of public sector banks (PSBs) through bailouts, be they as budgetary allocation or some sort of bond issue, has evoked much discussion. The Insolvency and Bankruptcy Code is cited as adequate punishment for defaulting borrower companies.
Read MoreInsufficient life insurance cover and mismanagement of a life insurance contract can ruin the future of your dependents
Read MoreDifferent amount of tax exemptions are allowed under different sections. So, below we have explained the exemptions allowed under these sections to give more clarity on these deductions.
Read MoreNEW DELHI: Retirement fund body EPFO may lower interest rate on provident fund deposits this fiscal compared to 8.65 per cent provided to its 4.5 crore members for 2016-17, a labour ministry official said.
Read MoreCoimbatore: The city stands on top of the list when it comes to the number of people having health insurance cover, thanks to the growing awareness among citizens for quality healthcare and the new-age finance.
Read MoreNEW DELHI: In a major disinvestment initiative that follows New Delhi’s decision to dilute its Air India ownership, the Centre is considering a proposal to put on the block about 30,000 km of Indian Railways power lines, potentially fetching the national transporter Rs 1 crore for each kilometre of infrastructure.
Read MoreRetirement is inevitable. At some point in life, there will come a time when you decide to stop working and just relax. Although, you may be too young to think about retirement now, planning early is essential. Here’s why.
Read MoreUIDAI instructed implementation agencies to work out a mechanism to verify if those NRIs and PIOs are actually what they claim they are.
Read MoreHave you been finding it difficult to link your mobile with Aadhaar for the sheer hassle of making a visit to the mobile service provider due to time constraints? If yes, here's some good news from you.
Read MoreIt has now become mandatory to link your insurance policies with Aadhaar, and the deadline to do so is December 31, 2017.
Read MoreThe LIC's 'Cancer Cover' policy is a non-linked plan with yearly and half-yearly premium paying options, a company release stated Fixed benefits would be paid in case the Life Assured was diagnosed with any specified early and/or major stage cancer during the policy term
Read MoreWhen you download UMANG app, it asks you to link your Aadhaar with the app. Currently, this is optional and you can use UMANG app without seeding in your Aadhaar in it.
Read MoreThe first-year premium, or premium earned by selling new policies by state-run LIC grew by 24.2 per cent to Rs 77,978 crore from bulk of business written in group and single premium space.
Read MoreIndia is likely to become world’s third largest economy by 2028 and overtake Japan in nominal gross domestic product (GDP), projects a recent Bank of America Merrill Lynch report co-authored by Indranil Sen Gupta and Aastha Gudwani.
Read MoreBy 2031, the population of people more than 65 years old is expected to grow the fastest (75%) among all age groups, yet only 23% were saving or planning to save for retirement in 2016.
Read MoreIRDA clarifies linkage of Aadhaar number to insurance policies is mandatory under the prevention of money laundering rules
Read MoreDoT secretary Aruna Sundararajan says the telecom dept is waiting for Supreme Court judgement on the Aadhaar issue to decide on Aadhaar-Mobile linking
Read MoreHealth insurance plans in India are generally oriented towards covering costs of hospitalisation for illness or accident
Read MoreOne way NRIs can avoid the high TDS is by being the second holder in joint investments.
Read MoreThe New India Assurance IPO was fully subscribed on Wednesday on the back of a $1 billion bid by LIC
Read MoreReturn from PPF (Public Provident Fund) and NSC (National Savings Certificate) will nearly halve from the day you become an NRI. According to the latest changes in rules, if a PPF account holder turns NRI, the account will be deemed closed even if it has not matured and will earn interest at the much lower rate applicable to Post Office savings account.
Read MoreRead the offer documents carefully There is a reason why ads for financial products come with the disclaimer that you should read the offer documents carefully before investing. One product that many people invest in without giving proper thought is the National Pension System (NPS). The tax savings offered by the scheme seem so attractive that people ignore all other aspects.
Read MoreLIC has increased its stake in Colgate Palmolive India from 5.016% to 7.037% by buying an additional 54,97,334 shares in the company
Read MoreState-owned Life Insurance Corporation (LIC) may be roped in to participate in the Rs 2.11 lakh crore recapitalisation initiative for public sector banks (PSBs).
Read MoreNEW DELHI: Mobile Aadhaar can be used as an identity proof to enter airports, while identification documents will not be required for minors accompanied by parents, according to a circular issued by aviation security agency BCAS.
Read MoreThere are only few who are educated about the importance of financially protecting their dependents when they are no more available or are incapable of providing for the dependents.
Read MoreEarlier, heart and kidney ailments apart from cancer were one of the most common exclusions in health insurance products
Read MoreFaced with criticism for forcing people to link their Aadhaar numbers with their mobile connection, thereby creating scope for privacy invasion, the government is considering the option of allowing other identity proofs to complete the verification process. These IDs could include ration card, driver's license and passport.
Read MoreIndia’s pension system is ranked 28 out of the 30 countries, highlighting the inadequacy of the nation’s retirement program in the world’s second most populous nation.
Read MoreThe country’s largest institutional investor has just gone light on most bank stocks and top metal firms, shifting its focus to what appeared to be the rural theme and the FMCG sector.
Read MoreFrom income-tax perspective, there is a specific exemption for foreign citizens on the requirement to obtain Aadhaar for income-tax return filing and PAN application
Read MoreNEW DELHI: The Income Tax Department has launched an 'online chat' service for taxpayers so that they can seek answers to their basic queries and doubts relating to direct tax issues.
Read MoreThe union government has said it would extend until December 31 the deadline to furnish Aadhaar to avail benefits of social welfare schemes.
Read MoreLIC rescues GIC Re’s Rs 12k-cr IPO with up to Rs 6k-cr boost
Read MoreCHENNAI: LIC beat private players and booked a 38% increase in premium to Rs 15,302.99 crore, even as private life insurance players saw flat growth for the month of September. The PSU's growth can be attributed to its release of new products like Jeevan Umang and Jeevan Akshay and beefing up its agency force.
Read MoreLIC’s substantial bid of Rs8,000 crore worth of shares is the reason why the GIC Re IPO was substantially subscribed on the first day itself
Read MoreAs child-centric disorders like autism get diagnosed more often, insurance companies are looking to provide standalone products or add-ons to existing ones.
Read MoreLife Insurance Corporation (LIC) sees a growth of 23.68 percent in the first 2 Quarters of Financial Year
Read MoreNEW DELHI: There is relief on the way for mobile phone users, particularly senior citizens, facing difficulties in complying with the Supreme Court's order linking Aadhaar with mobiles as proxy authorisation may soon be permitted for the purpose.
Read MoreA health insurance policyholder pays his annual premiums diligently with the hope that in case of hospitalisation, the insurance company will bear the costs up to the limit of the policy's sum insured amount. As part of the contract, the insurance company is liable to pay the claim to the hospital on behalf of the insured.
Read MoreHave you ever sat down with your children to ask - what if we were to lose our home or a car in a natural calamity? What would they do if you were to fall sick and become incapacitated?
Read MoreThe government will soon notify a new threshold for the value of transactions in gold, silver and precious stones such as diamonds which have to be reported to the authorities in order to check the diversion of black money into bullion, Revenue Secretary Hasmukh Adhia said.
Read MoreThe apex court directed Reliance General Insurance Co. to pay Rs8.35 lakh to the Hisar-based customer whose insured truck was stolen but his claim was rejected on the grounds of delay in filing it.
Read MoreWe often have the perception that insurance quotes are declined for ‘no reason’. However, an insurance policy is a contract. The insurer agrees to cover you according to how much risk they think they take on in doing so, and set your premium accordingly, says Bertus Visser, chief executive of distribution at PSG Insure.
Read MoreThe government has insisted on quoting Aadhaar for bank deposits, obtaining mobile phone and several other utilities to weed out benami deals and black money.
Read MoreBI Reduces Interest Rate on Fixed Deposits to 6.5 Percent
Read MoreRBI’s six-member monetary policy committee keeps interest rates unchanged at 6% because it anticipates upside risks to retail inflation
Read MoreWhile health spending accounts for 13% of total consumption expenditure for elderly households
Read MoreThe main reason behind under insurance is lack of awareness and knowledge. Due to this, the insured remains exposed to a number of dangers.
Read MorePeople come up with many reasons for not buying insurance. We need to bust these excuses because insurance is a vital part of every financial plan
Read MoreIn a recent move, SBI has completely waived off account closure charges for some accounts, effective October 1.
Read MoreAnnuity products are becoming more lucrative as the rate gap narrows.
Read MoreInsurance providers are reluctant to cover mental illnesses because of the duration and costs of treatment as well as stigma attached to mental disorders.
Read MoreLong-term capital gains from the sale of a residential property can be claimed as exempt if they (i.e. capital gains and not sales consideration) are re-invested in the purchase or construction of one residential house located in India, subject to certain conditions.
Read MoreLIC's surplus payout to government up 15.8% at Rs 2,207 crore in FY17
Read MoreOnce you've filed your income tax return and verified it, the Income Tax (I-T) Department starts processing your return. Refund, if any is due, is issued only after processing is complete. Normally, after verification the 'status' of your ITR would be 'Successfully Verified' or 'Successfully e-Verified'. After processing is complete, the status would be 'ITR Processed'.
Read MoreGoods and Services Tax (GST) registration is a must for every business owner whose annual turnover exceeds Rs 20 lakh. However, in some states with special status, the amount is lowered to Rs 10 lakh.
Read MoreNEW DELHI: Life Insurance Corporation of India (LIC), country’s largest institutional investor, has pumped in Rs 29,000 crore in equity markets in the ongoing financial year so far, according to a report by ET Now. Investments of LIC in equities to be around Rs 50,000 crore in FY18, according to sources. LIC also expected to surpass Rs 20,000 crore profits booked in last fiscal.
Read MoreLIC, the country's largest and the only state-owned life insurer, bought nearly 4.52 percent shares in Dena Bank in a period between May 23 to September 18, the bank said in a regulatory filing.
Read MoreTo maintain uniformity in the industry, life insurers can now only publish annual figures of death claims paid ratios based on the number of policies.
Read MoreReducing premium by accepting a higher deductible. Remember, higher the deductible, higher is the out-of-pocket expense
Read MoreMany insurance companies offer numerous health insurance plans each making better promises than the other. However, it's overbearing to understand that each policy has a different premium, covers different aspects, and are regulated by different policy provisions.
Read MoreIn an unusual move, the Insurance Regulatory Authority of India (Irdai) has asked LIC to review the return on its flagship immediate annuity product Jeevan Akshay, because it is too high. The regulator wants the insurance company to ensure that returns are in line with yield on LIC’s investments.
Read MoreIf a person lives in India for more than 182 days and in the remaining period works outside India, and gets a salary for that work, how should we compute the tax liability of the person? To compute tax liability of that person, how should I convert the amount of the salary to India rupees from dollars? How should I decide what exchange rate to consider for this purpose?
Read MoreLife insurers registered a growth of 22.6 per cent in new premium at Rs 17,513.44 crore for August this fiscal.
Read More“The Union Cabinet chaired by Prime Minister Narendra Modi has given its approval to the introduction of the Payment of Gratuity (Amendment) Bill, 2017, in Parliament,” the government statement said.
Read MoreMUMBAI: The Insurance Regulatory and Development Authority of India (IRDAI) has asked the Life Insurance Corporation (LIC) to review the return on its flagship Jeevan Akshay pension plan which provides regular income against upfront premium. The regulator wants the insurance company to ensure that returns are in line with yield on LIC's investments.
Read MoreLife Insurance Corporation of India (LIC) might be one of the country's smartest domestic institutional investors. The stock portfolio of the public sector insurer, which is also the country's largest institutional investor, has outperformed the benchmark index in the last three years as well as in the current calendar year by a wide margin.
Read MoreIndia ranks 43rd in this year’s GRI out of 43 countries and has the same score compared to last year. Its sub-indices all rank in bottom five.
Read MoreIt's no brainer that an adequate life insurance is must for a family's protection in case of an untoward event with the breadwinner. But what if the same proceeds are claimed by the creditors and your family doesn't get a single penny out of it when it needs the most. This can happen in a situation where one has a home loan running or a business that has piled up debts.
Read MoreSeptember is Life Insurance Awareness Month. And “awareness” is an appropriate designation, because many people remain unaware of the many ways in which life insurance can help families meet their key financial goals.
Read MoreYou may not be able to use your SIM cards after February 2018, in case it is not linked to Aadhaar. The government is planning to deactivate the unlinked SIM cards from next year.
Read MoreMumbai, Sep 6 () LIC has formally launched a new single premium plan, Jeevan Utkarsh, which offers a combination of protection and savings wherein the risk cover is ten times of tabular single premium from date of commencement of risk.
Read MoreThe year 1992 was significant in Sanjay’s life. That is the year he got married to the girl of his dreams. Both of them were qualified professionals, ready to take on the world. Both of them worked hard with exceptional commitment to build the life of their dreams.They had an enviable lifestyle and could give their children the best of almost everything they wished for.
Read MoreAlthough 73%of families in India have financial assets like cash, bank accounts and pension accounts, but they hold very small amounts adding up to just 5% of total wealth.
Read MoreCOIMBATORE: Claiming that insurance industry has been heavily hit by the imposition of 18 per cent GST.
Read MoreNEW DELHI: Amid reports of a sudden surge in filing of returns that put a huge load on the Goods & Services Tax Network (GSTN), the IT backbone for GST, the government on Monday extended the last date for filing of returns for three categories.
Read MoreMumbai, Sep 1 () Country's life insurance behemoth, Life Insurance Corporation of India (LIC) has settled claims worth more than Rs 1 trillion in the financial year 2016-17.
Read MoreLife Insurance corporation (LIC) Visakhapatnam division wasobserving 61st insurance week celebrations and the first day of the insurance week tomorrow will be observed as LIC day to mark the formation of corporation on the day in 1956.
Read MoreNTPC on Thursday informed stock exchanges that Life Insurance Corporation (LIC) of India now holds a 14.24% stake in the company, a day after the government raised about Rs 9,100 crore by selling a 7% stake in the state-run power producer through an offer for sale (OFS).
Read MoreNew Delhi: The Income Tax Department today said some 14,000 properties worth over Rs. 1 crore each are under its scrutiny as their owners have not filed tax returns.
Read MoreTax payers who were supposed to file their income tax returns by September 30 now have some more time on their hands. The government has extended the deadline to file income tax returns for such tax payers until October 31.
Read MoreNon-resident can claim benefit of DTAA to avoid income tax here. A non-resident is taxed only on income that is received in India, or that accrues or arises, or is deemed to accrue or arise, in India. Since salary income is received in India it will be chargeable to tax in India.
Read More"Unless a finding is made that Aadhaar is constitutionally not valid, tax return filers will need to link their PAN with Aadhaar by August 31, 2017," says a CBDT press release dated July 31, 2017.
Read MoreThe central government had banned cash transactions of Rs. 2 lakh or more from April 1, 2017, through the Finance Act 2017
Read MoreSignature campaign to remove GST on insurance premiums launched
Read MoreIncome tax authorities have now turned their attention to thousands of individuals who have high interest income from fixed deposits but are probably not paying tax.
Read MoreYou may soon need to shell out less if you pay digitally. The government is looking at giving a 2% incentive over the applicable GST tax rate in case of digital payments where the bill is up to Rs 2,000, in a move aimed at discouraging cash payments.
Read MoreThe intent is to avoid data duplication because those who sell insurance products do not work with multiple insurers or intermediaries in the same business category.
Read MoreUnion Finance Minister Arun Jaitley on Sunday said that accounts opened under Pradhan Mantri Jan Dhan Yojana increased from 12.55 crore in January 2015 to 29.52 crore on 16 Aug 2017.
Read MoreThe Centre today notified that the Reserve Bank of India will soon introduce Rs 200 currency notes.
Read MoreLife is unpredictable and there's mostly no way of knowing when a tragedy might strike, which makes it even more important to get yourself that protective circle in the form of a health insurance policy, as soon as possible, instead of waiting for your mid 30s or 40s.
Read MoreLIC previously had 4,79,54,35 shares in Nestle India, accounting for 4.97% stake
Read MoreIn 2015, 2 crore e-returns were received. This meant that 23 lakh additional tax payers filed returns in 2016.
Read MoreIn order to keep pace with the current insurance and gen-next trends, Life Insurance Corporation (LIC) of India would soon allow loans to be procured online.
Read MoreWhen politicians, public servants and government employees are unlikely to accept a 25% cut, why force senior citizens to lose out on the interest on their small savings?
Read MoreComparatively, all the 24 life insurers in the country had earned Rs 13,854.44 crore as insurance premium from new business in July 2016.
Read MoreThe apex court granted four weeks time to the Centre to ensure that there are functional PUC centres in NCR to ensure that vehicles plying have PUC certificate.
Read MoreThe government may soon make Aadhaar mandatory for buying shares and mutual funds, the Economic Times reported today. The move is aimed to tighten the loopholes that some unscrupulous investors exploit and make money by converting black income into white through the stock market.
Read MoreIf no insurance claim is made for a period of 25 years after the transfer, you will have to forfeit the money and it will belong to the government
Read MoreThe government's demonetisation drive and the subsequent "Operation Clean Money" seem to have smoked out those avoiding taxes, resulting in a massive jump in the number of returns filed this year as well as individuals paying taxes.
Read MoreThere are hosts of insurance products available to meet such needs. Equally important is the amount of sum assured. Unlike developed countries, most Indian don't pay much attention to having an adequate insurance cover.
Read MoreThe insurance major increased stake in 40 companies during the quarter gone by which include names like L&T, SBI, Bank of India, IDBI and Dena Bank among others.
Read MoreIRDA chairman T.S. Vijayan has urged insurance companies to start offering cost-effective insurance policies to customers rather than incentivizing insurance agents with commissions and focusing only on increasing profitability.
Read MoreMotor insurance premium in future may be determined through black box-based real-time monitoring of driving habits, vehicle usage and even distances covered, as per a proposal mooted by regulator Irda.
Read MoreAs an NRI you have various options for payment of premium on your life insurance policies bought in India
Read MoreThe dollar index, which measures the greenback's value against a basket of six major currencies, rose about 0.20 per cent to 92.87.
Read MoreThe Reserve Bank of India (RBI) on Wednesday finally cut interest rates, in line with what the Street was expecting. Repo rate - the rate at the which the central bank lends short-term money to banks - was cut by 25 basis points to 6 per cent from 6.25 per cent.
Read MoreGovt. Says Aadhaar Cannot Be Used To Track Anyone
Read MoreDays are not far off when GOI may ask for share in Income Tax paid by NRIS on their earnings abroad
Read MoreNEW DELHI: The last date for filing income-tax returns this year has been extended to August 5. The original deadline for filing income tax returns for FY 2016-17 (AY 2017-18) was July 31, 2017. The extension is a welcome relief for a large number of tax payers struggling to meet the deadline in the face of various problems.
Read MoreThe government will begin collecting all the virtual information of a person's pictures uploaded on social networking site Facebook.
Read MoreMumbai: The Gujarat and Assam floods are turning out to be a test case for social security insurance schemes launched by the government. This year's floods — in the aftermath of the launch of the social security schemes — are being ranked among the biggest natural disasters. However, casualty numbers are still awaited by insurance companies.
Read MoreLIC made a profit of Rs 6,100 crore in the April- June quarter through sale of equities from Rs 2,489 crore in the year-ago period.
Read MoreState-owned insurer’s equity investments yield 145% profit growth in April-June
Read MoreAn insurance policy is made of two parts – investment and risk protection, GST is levied only on the risk factor part and not the investment part and therefore term plans will be influenced the most under GST.
Read MoreIndividuals who qualify as non-residents are mandatory required to file a tax return in India if they have any income taxable in India by 31 July 2017
Read MoreThe deadline for filing income tax returns for individuals is upon us and if you haven't filed your ITR yet, you might want to avoid crossing the deadline. The government has not put any monetary penalties for crossing the deadlines. However, you would miss out on a lot if you file it even one day after the deadline. Here is how.
Read MoreLife insurance is a long-term contract. Check your insurance company’s reputation, its claim settlement record and whether it has a trained workforce before signing on the dotted line
Read MoreFrom August 1, insurance will be mandatory for all ECR category passport holders. More than six lakh Indian workers with ECR passports go abroad every year to work. The mandatory insurance cover will help create a database of ECR workers abroad.
Read MoreLIC’s decision to raise its investments in stock markets by at least Rs50,000 crore from 2016-17 was taken after a steady surge in its premium income for three consecutive quarters
Read MorePMVVY will provide an assured return of 8 per cent per annum payable monthly.
Read MoreET digs deep into whole-life products and finds out who should buy it.
Read MoreFinance Minister Arun Jaitley will launch a pension scheme for elderly with 8 per cent fixed rate of interest on their savings on Friday. This pension scheme will be exempt from both service tax and Goods and Services Tax, reports suggest.
Read MoreThe taxpayer can also see the refund received by him/her for previous assessment year in Form 26AS
Read MoreThe policyholders looking to register for online services will now have to either provide PAN or Aadhaar number.
Read MoreCHENNAI: Many customers only realise at the time of making a claim that their health insurance policy does not cover certain medical conditions or ailment. Policy holders usually depend on what has been told to them by their insurance agents, who sometimes overstate the coverage.
Read MoreIt is not necessary that you take insurance from the same insurer with whom you were insured abroad
Read MoreThis should serve as a warning sign for the need to have adequate safeguards for your house
Read MoreIndia's biggest tax reform formally launched
Read MoreNow that Goods and Services Tax (GST) has come into force, business people have made a beeline for chartered accountants due to the complex nature of the new tax regime. Often, even the CAs cannot answer a query immediately.
Read MoreThe revised PPF and NSCs are set at 7.8%, while KVPs will earn only 7.5%.
Read More“There is no need for any panic. PAN will not become invalid after June 30,” Sushil Chandra, chairman of Central Board of Direct Taxes (CBDT) told.
Read MoreIf it is a single premium policy or an endowment policy, the rate of tax will be 4.5 percent. In the case of a renewal premium, the tax charged will be 2.25 percent while if it is a single premium annuity plan it will be taxed at 1.8 percent.
Read MoreIRDA has identified LIC, ICICI Prudential, HDFC Standard Life, Bajaj Allianz, Kotak Mahindra and SBI Life as potential candidates to take over Sahara Life’s business
Read MoreBanks say that "the relationship they have with customers with regard to lockers is that of lessee (landlord) and lessor (tenant)". In such a relationship, the lessor is responsible for his or her valuables kept in the locker which is owned by the bank.
Read MoreOn June 12, the insurance regulator had taken over the administration of Sahara India Life Insurance
Read MoreCustomers can file complaints against banks for problems with mobile and digital banking services. The RBI has widened the scope of its Banking Ombudsman Scheme 2006.
Read MoreWhile growing financial awareness has helped the surge in popularity of health insurance, many insurance features are still unknown to the vast majority of policyholders.
Read MoreThere are various reasons for women not buying as much health insurance as men do. Let’s take a look at them, and what can be done to fix it.
Read MoreThe insurance behemoth bought 38.67 per cent of shares put on the block via QIP by the country's largest bank earlier this month
Read MoreAssuming your total taxable income for FY 2016-17 is below Rs 2.5 lakh, as per income tax provisions it is not mandatory to file return of income.
Read MoreChief minister Devendra Fadnavis has urged Life Insurance Corporation of India to provide financial assistance to the various metro, flyover and other public transport projects being taken up in Mumbai and the metropolitan region.
Read MoreLIC’s Jeevan Umang is for conservative investors looking for periodic pay-outs Entry age is 90 days Regular payout of 8% of sum assured from the end of premium payment term
Read MoreThe Insurance Regulatory and Development Authority of India (IRDAI) has taken over the administration of Sahara India Life Insurance, a first of its kind move in the insurance sector. It has named R K Sharma, General Manager, IRDAI, as administrator to manage the affairs of the insurer.
Read MoreMUMBAI: The Life Insurance Corporation(LIC) has pulled off a record claim performance by settling 99.92 per cent of death claims in 2016-17 as against industry average of 95 per cent
Read MoreThe Central Board of Direct Taxes (CBDT) said on Sunday thatAadhaar will be mandatory for filing Income Tax returns and applying for Permanent Account Number (PAN) from July 1, 2017
Read MoreLife Insurance Corporation (LIC), India’s largest insurance company, has acquired shares worth Rs 5,700 crore in State Bank of India’s Rs 15,000 crore qualified institutional placement (QIP).
Read MoreReviewing term life insurance coverage is a must and one should do it with utmost care.
Read MoreLand auctions conducted by the City and Industrial Development Corporation in Navi Mumbai last week saw bids lower by as much as 40% compared with those in November.
Read MoreLife insurance industry saw 17.78 per cent increase in asset under management during the financial year 2016-17, aided the good growth in the equity market and inflows post demonetisation.
Read MoreIn case you end up with an insurance policy you don't like, how do you get out of it? Here are a few suggestions.
Read MoreAll cash withdrawals through ATM-by customers of its mobile wallet State Bank Buddy-will now be charged at Rs 25 per transaction.
Read MoreAs of March 31, 2017, LIC was holding nearly 197 crore worth of ITC shares, with a market value of Rs 55,668 crore.
Read MoreHealthcare costs are rising as treatment protocol has become more sophisticated and the cost of medicines has gone up. Instead of increasing sum insured annually, it is advisable to opt for a health plan with comprehensive coverage of Rs 10-15 lakh
Read MoreIn case of a natural calamity or a terrorist attack, the claim settlement period can be waived off
Read MoreThe savings gap resembles the amount of money required in each country (including contributions from governments, individuals and employers) to provide each person with a retirement income equal to 70 per cent of their pre-retirement income.
Read MoreIt seems most of the key holdings in LIC's portfolio delivered handsome returns during the year.
Read MoreInsurance behemoth Life Insurance Corporation (LIC) of India earned a total investment income of Rs 1,80,117 crore during the financial year 2016-17.
Read MoreThe latest 100-year plan which provides cover up to age 100 offers a combination of income and protection.
Read MoreDue to higher profits, LIC to pay 40 per cent higher bonuses to the govt and its customers.
Read MoreThe continuing rally in the markets has had the nation's largest financial investor LIC booking a whopping 72 per cent more profit at Rs 19,000 crore from its equity play in FY17.
Read MoreThe policyholder or his nominee has to raise the claim for any due payment including death claim, maturity claim, survival benefit or premium due for refund within three years.
Read MoreArriving at the amount of life insurance cover needed is not rocket science. You must stay logical and follow the steps.
Read MoreNEFT charges are typically lower for internet banking as compared to carrying out the transaction through bank branches.
Read MoreThe myth of real estate being a great investment is mostly a result of mathematical illiteracy about compound growth.
Read MoreIf you are cash strapped and in urgent need of money, you can take loan against your life insurance policy
Read MoreHealth insurance is important, but how will you decide which one to buy and how much to pay for it?
Read MoreNAGPUR: Approximately 80% of vehicle owners in the city do not renew their motor vehicle insurance. In case of an accident, the owner of the vehicle cannot claim insurance if premiums are not paid regularly, said Sharad Jichkar, regional transport officer, on Tuesday.
Read MoreState Bank of India (SBI) revises the rates for medium and long term deposits and for amount below Rs1 crore
Read MoreLife insurance companies reported a 26 per cent rise in first-year premiums in 2016-17 to Rs 1,75,022 crore from Rs 1,38,657 crore in the previous year.
Read MoreOver four crore members of the retirement fund body EPFO can now withdraw funds from their EPF account for treatment of illness and purchasing equipment to deal with handicap without medical certificates
Read MoreMany people do not view life insurance as an essential and vital part of a retirement income plan. They see life insurance primarily as a way to protect families from the early loss of a breadwinner during the working years
Read MoreA very recent research report has revealed that in India, only road accidents have claimed 1,50,000 lives in 2015, a very disturbing figure indeed. Similarly, data regarding railway accidents are equally frightening
Read MoreMUMBAI: In line with a spectacular rally in equities, the rupee today surged by another 15 paise to close near a fresh 21-month high of 64.11, the third straight session of gains, energised by positive global cues.
Read MoreEPFO subscribes will be able withdraw up to 90% of their accumulations in their provident fund accounts for purchase/construction of houses or purchase of land.
Read MoreCHENNAI: In the last three years, insurance behemoth LIC has reversed the trend of private life insurers eating into its market share. The sole public sector life insurer has increased its share in new business to 71.07% as of March 2016-17, from 70.4% in 2015-16; 69.2% in 2014-15 as it shores up its insurance agents' force and brings down attrition rates.
Read MoreChennai: In the last 3 years, insurance behemoth LIC has reversed the trend of private life insurers eating into its market share.
Read MoreMost Indians rely on their agents to fill up the proposal form
Read MoreNAGPUR: Aiming at accessibility of insurance for the rural population, Life Insurance Corporation of India (LIC) will be launching 'AADHAR Stambh' and 'AADHAR Shila' endowment policies on Monday. The Aadhaar number linked plans will start at a minimum assured sum of Rs75,000 and a maximum of Rs3 lakhs with terms ranging from 10 to 20 years.
Read MoreLIC registered a 27.22% growth in FY17, higher than the industry average as well as its private peers.
Read MorePermanent account numbers (PAN) not linked to Aadhaar cards will likely become invalid after December 31, a government source said on Thursday, as the Centre pushes to widen the use of the 12-digit biometric identity project.
Read MoreEveryone knows that starting a Systematic Investment Plan (SIP) in an equity mutual fund scheme is the best way to achieve long-term financial goals. However, the strategy is likely to be tested in the coming days if the market scales new highs every week as some experts are predicting.
Read MoreAccording to the latest data collated by the Life Insurance Council, new business premium for the industry was at Rs 1.75 lakh crore in FY17, up from Rs 1.35 lakh crore in the previous financial year.
Read MoreDue to higher profits, LIC to pay 40 per cent higher bonuses to the govt and its customers.
Read MoreNew order will override the one issued on March 28; relief for goods-carrying vehicles, cars, tractors, two-wheelers
Read MoreOnce details are entered and submitted, an authentication pin is sent to the registered mobile to complete the registration process.
Read MoreIf your Ulip was bought before 2010, it would make sense to continue
Read MoreInsurance behemoth LIC will soon obtain services of retired bankers to strengthen its lending operations and ensure that NPAs are kept at the minimum.
Read MoreState oil companies today confirmed their plan to review rates daily.
Read MoreTotal new business premium, including pension and group business, rose to Rs 1.22 trillion in FY17, a growth of 25.8 per cent from around Rs 97,000 crore a year ago, a senior LIC official told PTI here.
Read MoreLife Insurance Corp. of India (LIC) booked Rs21,000 crore in profits in FY17, compared with Rs11,000 crore in FY16
Read MoreGeneral insurance companies saw their gross direct premium at Rs 1.27 lakh crore, a growth of 32% in financial year 2016-17.
Read MoreAs India is vulnerable to natural disasters such as earthquakes, tsunamis and cyclones, here are some insurance covers which you must have to protect yourself and family during any natural calamity.
Read MoreAccounts opened from July 2014 to August, 2015 will have to submit know your customer (KYC) details and their Aadhaar number to banks and financial institutions by April 30 and self-certify them to comply with FATCA regulations (Foreign Tax Compliance Act), the tax department said on Tuesday.
Read MoreGovt hopes the initiative will improve India's ranking in World Bank's ease of doing report
Read MoreThe government today appointed two more managing directors to the nation’s largest financial powerhouse LIC — B Venugopal and Sunita Sharma, for a period of nearly two years.
Read MoreYou must necessarily create a stable income stream to meet your monthly expenses
Read MoreThe amendments to the Motor Vehicle Act provide for a host of stringent actions to reduce the number of accidents.
Read MoreMore than 150 million patients with mental illnesses could soon get help with coverage under health insurances, but at a cost — insurers are hinting at an increase in premium.
Read MoreFor as long as anyone can remember, producing fake property rent receipt, often from parents and relatives, has been an easy way to lower tax burden. Such cavalier disregard for tax rule was overlooked by most employers as well as taxman, who possibly felt it was a minor transgression. Perhaps, not anymore.
Read MoreThe announcement of new income tax return (ITR) forms usually marks the start of a new financial year. From announcing a new, compact and short ITR-1, the total number of forms has also been brought down to seven from nine earlier. Here are some key issues that an assesses must keep in mind while filing his returns for AY 2017-18.
Read MoreKeep these factors in mind when picking the right insurance cover for you and your family
Read MoreReturns on small savings schemes, including public provident fund (PPF), National Savings Certificate (NSC) and Kisan Vikas Patra, will be lower from April 1, the government announced on Friday.
Read MoreInsurance Regulatory and Development Authority of India (IRDAI) decides the pricing for third party motor products which are mandatory for all vehicles running on Indian roads. In 2014, it introduced long term motor third party insurance policy for two wheelers with a three year term.
Read MoreIT is commonly believed that life insurance plans are meant for saving on individual taxes. This belief is further reinforced by reports appearing in the media during the last quarter of the financial year when people start thinking about optimising their tax liability through various exemptions allowed by the Income Tax Act.
Read Moreशहीद जगदीश बिश्नोई, जिनकी शहादत पर हमें गर्व है! लॉयन न्यूज, बीकानेर। सुकमा, छत्तीसगढ़ में नक्सली हमले में जांबाज जगदीश बिश्नोई को राज्य सरकार की ओर से फिलहाल किसी भी तरह की राशि नहीं दी गई है।
Read MoreAccording to a survey, most Indians don’t have any concrete financial plans towards achieving their life goals.
Read MoreInsurers consider HIV-positive patients a risky proposition and are likely to charge high premiums.
Read MoreNon-life insurance companies' total premium grew 33.4 per cent to Rs 10,287.74 crore in February this year. While, specialised PSU insurers’ underwritten premium during the month rose by 124 per cent to Rs 890.22 crore.
Read MoreIncome saw 8% growth at Rs 13,646 cr in Apr-Dec 2016 as against Rs 12,617 cr a year ago
Read MoreThe report said that as of today, only 50 percent of women in the urban internet population in India have life insurance coverage as compared to 72 percent of men who have purchased life insurance solutions.
Read MoreTo begin with, LIC plans to provide PoS machines to about 1.5 lakh agents that would be ramped up in the future, the official added.
Read MoreMUMBAI: State-owned insurance firm Life Insurance Corporation (LIC) announced on Monday that it has registered a strong 12.43 per cent in total premium income at Rs 1.45 lakh crore during the first nine months of the current financial year ended December 31, 2016. The number had stood at Rs 1.29 lakh crore in the corresponding period of last year.
Read MoreThe country’s largest insurer, Life Insurance Corporation of India (LIC) — a dominant player in both debt and stock markets — has focused on booking profits from its equity investments in the April-December 2016 period.
Read MoreThe new business income performance for the nine month period ended December 2016 saw an impressive increase of 40.11% in first year premium.
Read MoreNew Delhi: India's financial capital Mumbai, which is home to 46,000 millionaires and 28 billionaires, is the richest Indian city with a total wealth of USD 820 billion, says a report.
Read MoreNEW DELHI: Life Insurance Corporation of India (LIC), which holds roughly 5 per cent stake worth $66 billion in the BSE200 companies, was seen booking profits in state-run GAILBSE -0.35 %, SBI, HPCLBSE 3.21 %, IOCBSE -1.16 % and Indraprastha GasBSE -0.14 %
Read MoreConsolidation in state-run companies is being explored across all sectors. In insurance, it is necessary that we have presence of staterun entities as they serve the larger purpose of financial inclusion and also to ensure there is there is enough competition," he said.
Read MoreThe life insurance industry registered 35.13% growth for new business premium till January 2017, largely due to the high growth in the group as well as individual single premium policy.
Read MoreAccording to the data from the insurance regulator, during the first 10 months of the financial year, the industry earned premium income of Rs 1.04 lakh crore, a growth of 32 per cent from Rs 78,709 crore in April-January of the previous year.
Read More"The insurance penetration has started its northward journey is evident from the fact that it has increased from 3.3 percent in 2014 to 3.44 percent in 2015 on the back of various insurance schemes launched by the government," said the Assocham report.
Read MoreThe new business premium of life insurance companies grew by 27.8 per cent to Rs 13,138.10 crore in January, compared with the year-ago month.
Read MoreIn a first In the history of LIC Kerala, a person took an individual policy worth Rs 27 crore Anil Gopinathan Pillai, an NRI businessman hailing from Perinad in Kollam is the policy holder.
Read MoreLIC will hold 16.32% in the tobacco-to-FMCG major
Read MoreThe Budget broadly focussed on Demonetisation
Read MoreThe Budget broadly focussed on Agriculture sector
Read MoreThe Budget broadly focussed on Rural population
Read MoreThe Budget broadly focussed on For youth
Read MoreThe Budget broadly focussed on For the poor and underprivilege health care
Read MoreThe Budget broadly focussed on Infrastructure and railways
Read MoreThe Budget broadly focussed on Energy sector
Read MoreThe Budget broadly focussed on Financial sector
Read MoreThe Budget broadly focussed on Fiscal situation
Read MoreThe Budget broadly focussed on Funding of political parties
Read MoreThe Budget broadly focussed on Defence sector
Read MoreThe Budget broadly focussed on Tax proposals
Read MoreThe Budget broadly focussed on Personal income tax
Read MoreThe life insurance penetration is still tumbling in India, which currently is at 2.72% for the year 2015 dipping from 3.4% in the year 2011.
Read MoreUnion Budget 2017 will see a departure from a lot of things - tradition for one (instead of February 28 or 29th in the event of a Leap Year or the last working day of the month, it will be tabled in Parliament on February 1), merging the Railway Budget with the total budgetary outlay, and likely giving up of the distinction between the plan and non-planned expenditure.
Read MoreWorld Bank data shows that public health expenditure in India is abysmally low at 1.4% of GDP as of 2014, compared to a world average of 6%.
Read MoreIndian industries are looking at the upcoming Union Budget 2017-2018 with a keen sense of hope and confidence that the Government will aid all businesses to grow and thus augment the economic growth of the country.
Read MorePanel on digital economy suggests removal of MDR charges too
Read MoreLloyd's of London is the most revered name in global insurance. It doesn't like controls like any dyed in the wool financial services giant from the capitalist world. But when it comes to India, it is willing to take what's on offer from the government and do business even if it means kicking and screaming.
Read MoreThe situation was similar in 2012-13, when the total number of vehicles, including two-wheelers, cars and heavy vehicles, registered in the country stood at 15 crore, of which only 6.02 crore were insured.
Read MoreVarishtha Pension Bima Yojana 2017 is a part of government's commitment for financial inclusion and social security.
Read MoreIn order to soothe the pains of demonetisation and widen the tax base, the government may look at moderating the tax rates and broad-basing the taxation system, in the Budget, to be presented by finance minister Arun Jaitley on February 1. The big challenge for the government is to plug the issue of low compliance
Read MoreAccording to M Ravichandran insurance is treated as a compulsion and not as an essential component and the government can do much in changing this perception.
Read MoreGovernment may levy a charge on cash payments and cash deposits, and bring more cash transactions under the radar of PAN tracking.
Read MoreNEW DELHI: The Cabinet Committee on Economic Affairs has given its go-ahead for the listing of shares of five general insurance companies in the stock market, Finance Minister Arun Jaitley said today at a Cabinet briefing.
Read MoreEven after the passage of two months since the government withdrew high value currency notes from the market, dust is yet to settle down on the issue, with both support and opposition stacked up in equal measure.
Read MoreThe insurance industry in the country is expected to grow ‘significantly’ in 2017 and coming years due to rising financial literacy and government initiatives, according to a report by consultancy firm Dun & Bradstreet.
Read MoreUK-based reinsurance company Lloyd is expected to set up its branch in Mumbai in 2017
Read MoreInsurance regulator, IRDAI on Wednesday said any revision in the policy needs to be informed to policyholders 90 days in advance.
Read MoreThe government is working on the assumption that in times of cash crunch, the best way to achieve higher spending is by raising disposable income through tax breaks.
Read MoreOn scrutiny of the documents pertaining to the observation, it is found that the employees of the brokers were sponsored for foreign trips in the name of training, Irdai said in its order.
Read MoreThe current financial year has already seen 72 new products being developed in the life insurance industry, according to the country’s insurance regulator.
Read MoreYou should try and avoid taking on high life insurance premium payment commitments compared to your salary.
Read MoreLIC to invest the surplus money it earned from premiums this year in fixed income papers instead of stocks because of adverse market conditions
Read MoreTill now, GIC Re was the only Indian reinsurance company. It is entitled to the right of first refusal and also has the privilege of cessions which means a portion of risk is to be mandatory ceded to it by an insurer.
Read MoreFinance Ministry has asked two public sector general insurance companies -- Oriental Insurance and United India -- to improve their finances as the government looks to list the state-owned non-life firms.
Read MoreSIDBI and LIC had signed a MoU to supplement funds under India Aspiration Fund
Read MoreWith Election Commission announcing the poll dates for five states - Goa, Uttar Pradesh, Uttarakhand, Punjab and Manipur- the question that arises now is, whether the Budget can be presented on February 1 or not?
Read MoreState Bank chairperson Arundhati Bhattacharya today hinted that the mega merger of its five associate banks and Bharatiya Mahila Bank (BMB) could be pushed to the next financial year as it is still awaiting the government notification on the move.
Read MoreOn a year-on-year basis, private insurers and LIC grew at a robust pace of 42% and 38%, respectively
Read MoreThe life insurance sector has huge potential to grow as it is one of the important pillars for financial protection
Read MoreA taxpayer can maximize tax benefit under section 80D to a total of Rs 55,000 if his age is below 60 while parents age is above 60.
Read MoreV Manickam, Secretary General, Life Insurance Council, the umbrella body for all life insurers, that the industry confirmed the development to moneycontrol.com. He said the body had a sought a zero rate for insurance, which the government rejected.
Read MoreOf the Rs 12.44 trillion that has come into the formal system, some has found its way into financial assets such as life insurance policies
Read MoreManaging Director at LIC, Mr Sharma was already acting as chairman since September 16 when the then chairman S K Roy was relieved of his duties
Read MoreLife insurers' new premium collection more than doubled at Rs 16,061.40 crore in November, marking the fastest pace of growth in a month this fiscal so far.
Read MoreLIC bought 26.11 lakh shares, amounting to a 2.03 per cent stake, from open market during January 20 to December 8, 2016, according to a regulatory filing
Read MoreLife Insurance Corporation registered total premium income of Rs 7,200 crore in November, up from Rs 1,740 crore a year ago, thus showing a growth of more than 300 per cent on year-on-year basis, a senior LIC official told PTI today.
Read MoreThe public sector lender will create, offer, issue and allot up to 1,71,44,954 equity shares of to Life Insurance Corporation of India for cash aggregating up to Rs 156.79 crore, Central Bank said in a regulatory filing.
Read MoreThe government has also raised additional Rs 11,929 crore through investors availing capital gains exemption. MoS for road transport and highways Mansukh L Mandavia had told Rajya Sabha that NHAI plans to raise Rs55,000 crore in the current fiscal.
Read MoreWith 31 percent rise in premium collections in April-October period, LIC is likely to surpass last fiscal's growth figures.
Read MoreRenewal premium of policies, where grace period ends between November 9 and 30, can now be paid without penal interest if payment is made before November 30, LIC said.
Read MoreAll life insurers will flash on their homepage of their websites, the public notice issued by the Insurance Regulatory and Development Authority of India.
Read MoreLife Insurance: the first image that comes to most people’s minds upon hearing this phrase is some variation of an old couple playing with their grand kid.
Read MoreMUMBAI: Life Insurance Corporation, the biggest Indian institutional investor, may be the second biggest owner of stakes in Tata Group companies valued at about Rs 35,000 crore, but the overall ownership has fallen during the time of Cyrus Mistry at the helm. Data shows that LIC reduced holding in Tata Chemicals, Tata Steel, Tata SpongeBSE -0.36 % and other companies.
Read MoreAmidst rising worries about the plunging value of Tata Group companies after Cyrus Mistry was shown the door earlier in the week, interim chairman Ratan Tata today met V K Sharma, the acting chairman of LIC which is one of the major investors in Tata companies.
Read MoreInsurance regulator has put a spoke in the Life Insurance Corp’s bid to buy out SUUTI’s stake in engineering firm Larsen & Toubro and cigarette maker ITCBSE -0.31 % where it is already the single largest stakeholder possibly to ensure that its board takes responsibility for the risk it would be taking, said two people familiar with the development.
Read MoreTheir collective first year (or new business) premium during September 2015 stood at Rs 10,415.35 crore, data collected by the Insurance Regulatory and Development Authority showed.
Read MoreIn a show of solidarity towards soldiers martyred in the Uri attack, LICtoday said it has expeditiously settled the insurance claims on its own after obtaining necessary documents.
Read MoreNew Delhi: In a show of solidarity towards soldiers martyred in the Uri attack, LIC on Tuesday said it has expeditiously settled the insurance claims on its own after obtaining necessary documents.
Read MoreLIC Mutual Fund Asset Management Company today announced its tie-up with Karnataka BankBSE 1.33 % for distribution of its mutual fund products. The AMC will now be able to carry its distribution through more than 730 branches of the bank.
Read MoreThe government has replaced SK Roy as chairman of state-owned Life Insurance Corporation of India with Managing Director VK Sharma The change was announced late on Friday. The finance ministry is said to have initiated a departmental enquiry against Roy, allegedly over investments made by LIC in real estate firm Unitech in 2008-09.
Read MoreThe Life Insurance Corporation (LIC) completed 60 years of its service to the nation on Thursday. Zonal manager (East) Vipin Anand said LIC was a pioneer in using information technology for enhancing the quality of service to its customers. "One can access different information-based services of the company from his home.
Read MoreLife Insurance Corporation of India celebrated its 60th anniversary on Thursday. State education minister Vasudev Devnani formally inaugurated the diamond jubilee celebrations in the state capital. The whole week will be observed as Insurance Week and events will be organized across the state to spread awareness about life insurance not just among adults but also children.
Read MoreKiran Makode of Nagpur once again stamped his supremacy in the recently concluded 50th LIC Western Zonal Badminton tournament held at the Sports Authority of Goa Indoor Stadium, Campal, Panaji, Goa.
Read More