Finding Unclaimed Insurance Money in India

Unclaimed Insurance Money: Several Times we make certain investments or take insurance cover but forget to disclose the same to our family members aka nominee/beneficiaries. Such non-disclosure of information results in failure of the motive behind taking the insurance cover. According to the latest report (as at 31st March 2018) of Insurance Regulatory and Development Authority… Read More »

Tax Benefits of Insurance Plans aka Medical and Life Insurance Policies

Buying Insurance Plans are one the important essentials of an earning individual who has family dependents. The important part of insurance planning is Tax saving and Tax planning. Smart planning before choosing your insurance plan serves the dual objective to meet all the major financial goals with tax savings advantage. Tax savings through insurance plans… Read More »

How to Generate Aadhaar Virtual ID at UIDAI?

Aadhaar Virtual ID: In a bid to make Aadhaar Biometric Data more secured, UIDAI has put in place a multi-layered privacy protection for Aadhaar Holders by launching much-awaited facility of Generation of Virtual ID. What is Aadhaar Virtual ID (VID)? Aadhaar Virtual ID is a temporary 16 digit random number mapped with the Aadhaar number… Read More »

Standard Deduction of Rs.40,000 in 2018, Income Tax Benefits

Medical and Transportation Allowances Subsumed into Standard Deduction Standard Deduction: Budget 2018 has not cheered the Salaried Class at all, neither the tax slab is changed nor the deduction limit under section 80C is hiked. The tax rebate of Rs.5,000 has been reduced to Rs.2,500 and that too up to the taxable income of Rs.3,00,000… Read More »

Long Term Capital Gains Tax on Stocks and Equity Mutual Funds in Budget 2018

LTCG Tax on Stocks & Equity Mutual Funds in Budget 2018 Budget 2018 has re-introduced Long Term Capital Gains Tax arising from sale or transfer of equity shares as well as equity mutual funds at the flat rate of 10% without indexation. Tax on Short Term Capital Gains remains same at 15%. The proposed amendment… Read More »

Should You Invest in 2018 GOI Bonds at 7.75% p.a.?

In the scenario where Interest rates on Bank Fixed Deposits and Small Savings Scheme are moving downward quarter-on-quarter and no tax-free bonds on the offering, there are not many investment options available which provide assured return and that too without any risk. Investors in these times can look for GOI bonds. GOI bonds has recently… Read More »

Changes in Rules of Partial Withdrawal from NPS (National Pension System)

The Pension Fund Regulatory and Development Authority (PFRDA) has recently tweaked the Rules pertaining to Partial Withdrawal from NPS Tier 1 account (Tier II account is similar to savings account where subscriber is free to withdraw money as and when required). The modified rules allows subscribers, who have contributed for three years, to withdraw 25%… Read More »