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Insurance & Nivesh Tips

The aim of this blog to money investment for tax savings. also cover life insurance, sip mutual funds etc.

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Showing posts from February, 2018

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These Four Expenditures Can Help you Save Tax Under Section 80C

Posted by Yashraaj February 26, 2018

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How to Check The ITR Status Easily Without Any Hassle?

Posted by Yashraaj February 22, 2018

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Save Your Taxes Through Various Insurance Policies

Posted by Yashraaj February 22, 2018

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Tax Implications on Life Insurance

Posted by Yashraaj February 21, 2018

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11 Useful Income Tax Deductions for 2017-18

Posted by Yashraaj February 20, 2018

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Year-End Tips to Save Money & Income Tax

Posted by Yashraaj February 20, 2018

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Popular Posts

How to Compute Income Tax on Salary?

How to compute income tax? • Income tax is calculated through a certain percentage that applies for the tax. This percentage is calculated on the entire salary of an individual and it includes the basic salary as well as other allowances. • There are different income tax percentages for different levels of the salary income. There are also different percentages of income tax for different age groups that people fall under. So, the income tax percentage is decided upon the age as well as the salaries income of an individual and one can compute income tax by suing the particular values. • While calculating your income tax on your salary, you have to choose the particular percentage that applies to you. All the options are given below in accordance with different salaries and ages to let you compute income tax. Following are the categories and age brackets for which a particular percentage of income tax is applied: 1 st Category: General The

Go for Value for Money Insurance with Return of Premium Plans

There are various kinds of insurance policies offering different kinds of benefits. The basic purpose of the insurance plan is to cover the risk. There are term policies and money back policies. The term policy is the purest form of the life insurance product. The premium is very low and the benefit is very high with the term insurance plan. It is possible to get value-for-money with the term policy. Money back plans offer savings or corpus-building potential along with the risk coverage. You should be able to make the most of the money by subscribing to a suitable policy as per your needs. There are many specialized policies to cater the needs of Non Resident Indians (NRIs). How to get the best value for the insurance plan? Businesses offer various kinds of discounts, coupons and special offers to promote their products and services. There will be special discounts for policies brought during a specific window. Some insurance company offers special privileges based on age,

Tax Implications on Life Insurance

Many investors take insurance as tax saving instruments. The life insurance premium up to maximum of Rs. 1.5 lakh per financial year qualifies for tax deduction under section 80C of the Income Tax Act. Most of the people leave tax planning till the end of the financial year. When the financial year comes to an end, most of the people reach financial product agents to understand the product features so that they can save tax. According to financial planners, the retail customers should not mix their insurance and investment needs. Most people end up buying insurance products to meet 80C tax deduction limit targets. People then prefer to buy Unit-linked Insurance plans (ULIP) and endowment plans as they offer dual benefits of insurance and investment to a person. It is however better to keep your insurance and investment needs separate. A lot of people buy insurance products just to save taxes. But many such products may not offer you the expected tax benefits. In this ar

Here are Money Saving Tips for Students Pursuing Overseas Education

If you are reading this and have finalized all your admission formalities in an overseas university, then Congratulations are in order!! With the feeling of elation and that unmatched sense of achievement, you must be gearing up for this new chapter abroad. But once this euphoria subdues, you realize that managing money in a foreign country is not at all an easy feat. Many of the students have never left away from home let alone in a new country. Therefore thinking, calculating and budgeting in a new currency can be quite overwhelming. 10 Money Saving Tips Here are a 10 money saving tips to help you cruise through some crunch times. 1. Choose right Flights and Stay When we talk about saving money, why not start right from the time you have to leave. Book your flight tickets with a low-cost carrier but do make sure that you don’t compromise the baggage weight limit so that you don’t end up paying a hefty charge of overweight baggage. Another great option is to st

How does GST Impact your Insurance Premium?

Personal finances are affected by the implementation of the GST. Before the implementation of the GST, the tax on banking, insurance and other financial services was levied at 15%. After the implementation, the tax has increased by 3%. Now, policyholders should pay 18% GST on the insurance premium. The GST will be applied in different ways for various categories of plans. You should be aware of the tax calculation applied to the risk coverage and the savings. GST Rules on Insurance Plans The service tax is applicable in different ways on the risk component of the premium and the savings component of the premium. In fact, the service is applied on the risk portion of the life insurance premium. The GST will be applied as per the following terms: Case 1: The gross premium minus the amount contributed for investment on behalf of the policyholder Example: Gross premium = Rs. 2000/- Risk component = Rs. 600/- Investment = Rs. 1400/- The service tax should be

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