File your updated Income Tax Return (ITR-U) before March 31, 2025, to correct omissions or errors and avoid penalties. Learn more about filing, deadlines, and additional tax liabilities.
Learn 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.
Learn 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.
Learn MoreUnderstanding the pros and cons of each option ensures you make a strategic decision that aligns with your financial future.
Learn 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.
Learn MoreHere are the top five reasons why women need term life insurance in 2025.
Learn MoreThe Income Tax Department has recently released a new brochure highlighting how clubbing of income provisions is applicable for individual taxpayers.
Learn 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.
Learn MoreIf you are availing exemptions or deductions under the old tax regime, the new tax regime may lead to a higher tax outgo.
Learn MoreWe take a look at some common insurance mistakes which you must avoid to ensure your insurance truly safeguards your financial well-being.
Learn 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).
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn MoreThe concept of Previous Year and Assessment Year, thus, were creating confusion in the minds of taxpayers as they represented two different years.
Learn MoreThe Income Tax Bill 2025 has several aspects to be considered by the Non-Resident Indians as Clauses replace Sections.
Learn MoreThe essence of the Bill remains the same and the existing tax base, tax rates, computation mechanism etc. have been largely unchanged.
Learn MoreThe Income Tax Bill, 2025 defines 'online game' as any game offered on the internet and accessible through a computer or telecom device.
Learn 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.
Learn 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.
Learn 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.
Learn MoreAmong the most significant announcements was the introduction of a New Income Tax Bill, set to be tabled this week
Learn MoreThe revised tax structure also introduces a 25% tax slab for incomes between Rs 20 lakh and Rs 24 lakh.
Learn MoreThe new structure will significantly enhance the accessibility of the middle class by leaving them with more disposable income.
Learn 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.
Learn 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.
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