LIC Smart Pension Scheme 2025: LIC has introduced the Smart Pension Plan, a non-linked, non-participating annuity plan offering liquidity options for retirees. With flexible payment frequencies and options for single or joint life annuities, the plan guarantees a steady income.
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.
Learn MoreThe standard deduction on salary streamlines tax filing for salaried individuals by reducing taxable income by a set amount, minimizing the overall tax burden.
Learn 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
Learn 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.
Learn MoreWith positives like growing digitisation, progressive regulatory policies, and a gradual rise in awareness, this is the opportunity to reimagine the insurance landscape
Learn 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
Learn 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.
Learn 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.
Learn 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.
Learn MoreIn simple terms, a pre-existing disease is any health condition that an individual has experienced before purchasing a health insurance policy.
Learn 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.
Learn 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 .
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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).
Learn MoreNew PPF rules effective today streamline account management for minors, multiple account holders, and NRIs, impacting interest rates and regulations.
Learn 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.
Learn 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.
Learn More5 reasons health insurance claims get rejected
Learn 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.
Learn 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.
Learn 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).
Learn 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.
Learn MoreThe insurance plans were launched on Monday by LIC CEO and MD Siddhartha Mohanty and will be available both available offline and online.
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn MoreRegularly monitoring your financial records and staying alert for any suspicious activities is crucial for early fraud detection.
Learn 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.
Learn MoreNational Insurance Awareness Day 2024: The event is set to be observed on 28 June, this year.
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