Expanding investigation into allegedly wrongful claims of input tax credit by insurance companies, the tax authorities are probing a section of automobile dealers who have supposedly generated fake invoices without providing any service, which is a punishable offence under goods and services tax (GST) law. The authorities are learnt to have questioned the car dealers to explain the services they provided general insurance companies. The investigators suspect car dealers pitched for insurance schemes that give them commissions in excess of those insurance regulations permit.
Raise the amount of life cover you own if your liabilities and responsibilities have increased during the year, says Arvind A Rao.
New Irda rules open the way, with 5 entities getting okay to set up as repositories; firms preparing structures for switch
K G Krishnamoorthy Rao, managing director and CEO, Future Generali India Insurance, answers insurance queries.
In a relief for foreign firms giving loans to Indian subsidiaries, tax authorities have said goods and services tax (GST) will not be imposed on them, subject to some caveats. Additional fees, commissions, or related payments - over and above the amount charged as interest - on these loans will attract GST at 18 per cent, the Central Board of Indirect Taxes and Customs (CBIC) has said.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
'Try to buy a policy with a lower sum assured or one with a deductible.' 'Those whose spouses work for companies must get themselves enrolled into the employer's group health cover.' 'Some public sector banks also offer group health covers to those who open a savings account with them.'
There are many ways to lower your auto insurance premium rate but the best way is to add safety features to your car.
The 25-35 age group is the most active online in buying non-life insurance products.
Kharge also targeted Prime Minister Narendra Modi, saying the people should not believe Modi's "guarantees".
Under the scheme, which seeks to open 75 million accounts by January 26, 2015, an accident insurance cover of Rs 100,000 is provided with every RuPay debit card offered by the National Payments Corporation of India.
The rupee, which has depreciated about 23 per cent since May, has increased the loss ratios for the travel insurance segment.
After all, when you are studying, it is better if all you have to worry about are your grades.
The scheme would cover incidents like robbery and dacoity.
V Viswanand, director and head, Products and Persistency Management, Max Life Insurance, will answer your queries in an online chat September 3, between 2 pm and 3 pm.
Anil Rego shares six tips to help you bring down your cost of owning an insurance policy
The East District Consumer Disputes Redressal Forum made this recommendation while ordering Apollo Munich Health Insurance Co Ltd to pay over Rs 180,000 to a policy holder for not reimbursing his treatment expenses and illegally cancelling his insurance cover after he submitted his claim.
Companies selling health insurance are not in the business of giving away money. Let us face the fact that more they deny the claims, more they will earn. So, it is better for you to think and check out on all the details of a perfect health plan before signing the agreement.
The higher limit will be useful for senior citizens in particular
The move comes amid a border row over Belagavi between Karnataka and Maharashtra which flares up from time to time.
Many people invest in insurance with a view to saving taxes. So what are the tax rebates available to an individual in respect of premium paid on life insurance policies?
There are few lapses in the healthy insurance proposals.
General insurers clocked 14.35 per cent growth in business at Rs 7,168 crore (Rs 71.68 billion) till July, despite rise in claims after heavy rain and floods in western India and the fire at ONGC's Bombay High oil field.
'At the moment, it seems to be budgeted at Rs 300 crores with no sign of completion in the immediate future.'
Allowing it to lapse leaves you unprotected and can, in some cases, cause loss of premiums paid, experts tell Sanjay Kumar Singh.
Here are the answers to frequently asked questions about the costs, premiums, bonus and discounts that you can avail on your motor insurance.
LIC is on board after tying up with all five insurance repositories; 1,50,000 e-Insurance Accounts opened across India till date.
Here are all the things you need to know so that you worry about nothing but your grades, says Mahavir Chopra. Read on!
Insurers say they will have to study the available data to work out by how much premiums will have to go up to be able to cover mental illnesses as well
The NHRC has observed that the content of the news report, if true, raise a serious issue of human rights of the workers in violation of the labour laws and the guidelines issued by the Union Ministry of Labour and Employment from time to time.
IRDA suggested that health insurance should cover alternative treatments.
Firms in which IP is critical, such as pharma and research and knowledge-based organisations, were taking the lead in seeking cyber covers to protect their computer systems from hack attacks
Insurance of vehicle, including cars and bikes, will become costlier from April 1 as insurance regulator Irdai has decided to increase premiums by up to 40 per cent from the next fiscal.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
What many don't realise is that including their spouse and children in their tax planning can enable them to reduce their tax burden legally.
ICICI Lombard General Insurance on Thursday said it has started offering zero depreciation add-on cover and consumable items add-on cover for motor insurance products.
While proposals for covers in volatile markets aren't denied, premiums are much higher - by as much as 100-600%
