Plan these investments well rather than just doing random investments at the beginning of the year or rushing in at the end, advises Harshad Chetanwala, co-founder, MyWealthGrowth.
Indian reinsurer General Insurance Corporation has hardened its stance while negotiating reinsurance arrangements for the next financial year. During the first round of talks with non-life insurers, GIC said that it would pay at least 5 per cent lower commission on business that is reinsured with it. Further, it has sought a share in underwriting profits, which could be as high as 50 per cent, sources involved with the negotiations said.
It is that time of the financial year, when tax payers start getting active about investing in Section 80C instruments.
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 growth in new business premium for private sector players slowed down to 53.6 per cent y-o-y for March 2008 compared with 90.5 per cent y-o-y for the period beween April 2007 and February 2008. That dragged down the growth for the full year of 2007-08 to 83.7 per cent from 103.8 per cent in the prvious year. The slowdown was more marked for public sector Life Insurance Corporation.
It is likely health insurance premiums may actually fall, at least for the individual segment
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?
With taxation anguish already upon you with the financial year about to end in a month, check out what income tax rebates are available to you.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
Though COVID-19 will wreak more damage to the finances of the Indian population, the insurance sector is unlikely to get hurt.
The online population forms a brand new market that cuts across borders, it added.
PAN will be a must for all transactions, including purchase of jewellery, above Rs 200,000 with effect from January 1, 2016
As long as the money has been 'paid or deposited in the previous year', an assessee should be eligible for tax relief, says Harsh Roongta.
Feroze Azeez, deputy chief executive officer of Anand Rathi Private Wealth Management, appeared on Rediff Chat to answer readers' queries on GST.
Whether salaried or running your own business, it's about time to get your investment proofs in tax-saving instruments ready for filing your income tax returns later this year.
The tax rate rises to 10 per cent, 15, per cent, 20 per cent and 25 per cent for every Rs 2.5 lakh addition. A 30 per cent tax is charged for income over Rs 15 lakh.
To determine the amount of coverage one should purchase, first add up all of your financial obligations, such as student loan, credit card debts and your mortgage balance.
It is ideal to purchase life insurance as soon as you become financially independent.
Here's how you can make buying insurance the cakewalk that it is, says Anit Jain
Your entire contribution can go down the drain if policies are not renewed on time
Here are some major benefits that come along with a child insurance plan
Tax planning will help you pay less income tax. Something everyone wants. But smart tax planning will help you boost your portfolio.
The GST to be implemented from April 1, 2016, will increase the premiums.
If you're a salaried person there are many ways to save taxes
An excerpt from 'Money Smart: The Indian Woman's Guide To Managing Wealth' by Reenita Malhotra Hora and Divya Vij that reveals various options to help you save tax as well as invest for creating long-term wealth.
Now insurance companies will train agents not only to get new business but retain existing customers.
Individuals often postpone tax planning till the end of the financial year. As the deadline for showing proof of investments draws near, they invest randomly in any product that will help them save tax for that year. Later, they realise that it is not suited for them, so they abandon it. Tax planning should not be a standalone, one-off activity, but should be in sync with your overall financial plan, says Sanjay Kumar Singh.
It is important to know the right details about your insurance policies while avoiding these mistakes, says Harjot Singh Narula.
These offer great scope and flexibility when you fall upon hard times, says Harjot Singh Narula
The new service tax of 14% will jack up costs of shopping, travel, insurance premiums and property purchases
The regulator has put a cap on the business a bank can get from a single insurer.
A simple primer on how much money taxpayers can save under various sections of the Income Tax Act.
The Central Board of Direct Taxes is set to rationalise I-T rules.
Money saved is money earned, and cutting down your expenses could well be the single-most important step towards an organised financial life. Naval Goel shows you how to keep your finances organised.
The premium on insurance policies will get costlier by 3 per cent to 7 per cent, depending upon the rate fixed by the GST Council from April 1, 2017, says Harjot Singh Narula.
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