'Tax is not required to be deducted from specified payments if a recipient files a self-declaration with the deductor for no deduction of tax.'
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.
The premium amount will be automatically added to the ticket fare if the passenger opts for insurance.
The government would be ironing out issues related to the controversial 'bail-in' clause in the earlier Bill, explore hiking the deposit insurance cover of customers, and decide whether the resolution framework should apply to public sector banks.
A quick snapshot about the fundamentals of the concept of life insurance.
Here is what you must not think before buying life insurance, says V Viswanand, Senior Director and Chief Operations Officer, Max Life Insurance
The new Insurance Bill may take little time to see light of teh day.
In the wake of the natural disaster in Uttarakhand, the proposal for 'catastrophe insurance' is in spotlight.
Irdai's push will make insurance cheaper for consumers and enable a consolidated view of all policies.
Bhargav Dasgupta, managing director and chief executive officer of ICICI Lombard, tells Subrata Panda, in an interview that the company has adequate capital for now and does not see a need for fresh infusion through markets over the next few years.
Almost 30% or a third of the agriculture ministry's budget, is spent on premium for the PMFBY every year
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, will answer your queries on HEALTH insurance and AUTO insurance.
Term insurance is the purest form of insurance and is widely used by people of all backgrounds.
Buying a wrong insurance policy can give you nightmares when it comes to settling claims. Then there are other issues like cost, riders etc. Here's a seven-point checklist to help you buy an insurance policy that YOU need.
Taking health insurance is part of going abroad, but watch when you choose to make small claims, says Arnav Pandya.
Ensure maximum payout from the insurer when opting for a non-network hospital.
In a move that will bring cheer to health insurance policyholders, non-life insurers are finalising the contours of a new product that will have a common minimum standard cover and will be renewable and portable across companies.
Keeping this in mind you can easily get the best travel insurance policy for yourself and your family. It is advisable to do some research before making any decision.
Both private and public sector companies are introducing products for diabetes and hypertension- related diseases for the elderly.
Insurance against terror will command a lower premium starting next fiscal, as the pool created in this respect has accumulated a large sum and received less claims.General insurers have agreed to cut down the premium charges for the Market Terrorism Risk Insurance Pool to up to 0.003 per cent of the sum insured for various categories of properties.
A cancer dedicated policy will provide a sum assured of Rs 20-25 lakh for a 30 year old for mere sum of Rs 4,500-6,000 per year (on an average) for a term of 35-40 years, which is even lesser than the cost of a weekend road trip with your loved ones
The change in policy for the three companies, from listing to merger, shows the level of discomfort within the government about their ability to take on the expanded load for insurance coverage with their current financial strength, including the massive premium and claim settlement cover under the proposed universal health coverage plan announced in Budget 2018.
'If something unfortunate happens to an earning member, the family loses the crucial income which would have gone towards paying off debts, meeting the cost of children's higher education, or towards the upkeep of elderly parents.'
Premium paid on life insurance policies entitles you to tax benefits. Read on to find out more about this.
The largest domestic carrier IndiGo is set to renew the insurance cover for its fleet this month, Air India and budget airline GoAir's insurance renewal is due for October, while that of Jet Airways is due in next January.
Beneficiaries to get hospitalisation cover up to Rs 30,000.
Expect premiums to go up or introduction of a co-pay option for third-party damage
Mahavir Chopra explains the pitfalls one may face after buying a day care insurance policy
Sanil Basutkar, Co-founder, HealthySure, lists the benefits of availing a group health insurance policy.
Analysts say large issue sizes and high prices were key reasons for the poor response to IPOs of other public sector insurance entities. The high share price meant small investors did not foresee any listing gain
Maruti Suzuki India, Mahindra & Mahindra, Hyundai Motor and luxury car maker Audi have extended support to customers in cyclone and flood affected regions of Tamil Nadu and Andhra Pradesh. In a statement, Maruti Suzuki India said it has collaborated with its dealer partners and made several arrangements at its workshops. As soon as the news about the cyclone 'Michaung' was reported, the company proactively sent out 7 lakh SMS alerts containing precautionary steps to its customers to ensure that even before the cyclone hits, customers could take precautionary measures to safeguard their cars against potential damage, it said in a statement.
A proper mix of cover that gets tax advantage is essential to ensure that there is adequate insurance. But first, you need to identify the needs. And they will keep on changing, according to your age, dependents and other factors: Medical insurance premiums up to Rs 15,000 come under Section 80D. And life insurance premiums up to Rs l00,000 get benefits under Section 80C.
The GST intelligence unit detected tax evasion of more than Rs 1.98 lakh crore last year and arrested 140 masterminds who were involved in defrauding the exchequer, the finance ministry said on Thursday. In 2023, the Directorate General of GST Intelligence (DGGI) detected significant GST evasion in diverse sectors like online gaming, casinos, insurance and secondment (import of manpower services). "DGGI has achieved an increase in detection of cases of evasion and voluntary payments. In 2023, DGGI detected 6,323 cases involving evasion of duty of Rs 1,98,324 crore with a voluntary payment of Rs 28,362 crore.
How many health insurance policies should you have? Should you have mediclaim policies at all if you do not have any medical problems? Which are the best health insurance policies available for you today in India? How can one claim money after hospitalisation if you do not have a cashless mediclaim facility? How and where can you lodge complaints against your mediclaim insurance company if you have a problem? Here are the answers.
The air carriers' liability and insurance draft bill has proposed a five-fold increase in compensation in case of death or injury, the report said.
Interoperability with other insurance companies - apart from banks, medical centres, among others - would be the eventual goal
Detariffing in the non-life insurance market may well be the beginning of the end of cross-subsidisation and low premiums in group health insurance, with insurers now looking at pricing all their products individually.
