Important Things to Know About Home Insurance
Home is where the heart stays. In the world of inflation and recession, owning a dream house becomes next to impossible, but the financial institutions lend a helping hand in providing the required loan to acquire the property. With many difficulties after relentless survey, the loan approval process, credit score clearance, the much awaited home...
Prime Depreciation Rates as per Income Tax Act
Prime Depreciation Rates as per Income Tax Act are as follows: Sl. No. Asset Depreciation Rate 1 Building: Residential 5.00% 2 Building: Factory 10.00% 3 General Plant & Machinery 15.00% 4 Motor Car 15.00% 5 Motor Buses/Lorries Used In Hire 30.00% 6 Computers including Software 60.00% 7 Furniture 10.00% 8 Patents, Know-how, copyrights, licenses etc....
LIC Policies: Basic Things to Know
Life India Corporation, an insurance limited which is probably as old as the story of mankind, which made its debut over 100 years ago. Loss and disaster existed in the primitive men as well. Since 1912, the Life Insurance Companies Act came into effect to support business insurance and later on 1st September, 1956 the Life...
Important Points to Remember while Filing Tax Returns for Salaried
Government of India imposes a tax on your income and the financial income generated by all entities within the country and under its jurisdiction. This becomes a key source of fund for the government to fuel its activities and initiate public welfare programmes. Why does the government levy income tax? This helps them determine whether...
Comparative Analysis of Personal Accident Insurance Policies in India
Accidents are not only a big problem resulting in deaths but there are chances of permanent or temporary disability as well. In any case, accidents can cause a break in your regular income. A personal accident insurance policy is used by individuals to cover against these problems along with several other features. The situations covered...
Hindu Undivided Family (HUF)– Create One Today and Save More Tax
I am sure you would love to reduce to reduce your tax liability. In fact everybody wish to save more and more tax. In this article we are going to discuss the concept of Hindu Undivided Family (HUF) and its utility in saving tax. Concept of HUF A hindu undivided family is a separate legal...
Important Points to Remember while Filing Tax Returns for Self Employed
Filling tax is very important for self employed irrespective of the duration of self employment. For the entire year or a part of the year for which you were self employed it is important to fill the tax returns. The most vital things to remember while filling the Tax returns are discussed in the sections...
Learn to Calculate Capital Gains and Understand the relevance of Indexation
So, you are ready to dispose off your assets. Do you know that the gain you will earn on selling your assets can attract income tax under the head ‘capital gains’? Are you aware that if you sustain a loss on selling your asset, then in some cases you can adjust it in next few...
What to Look in a Policy While Purchasing Health Insurance
Health insurance is a medium through which one can positively get healthcare at affordable pricing. The policies we have in India are known to cover hospitalization expenses for accidents and sickness. Before we can really learn some of the important aspects that need to be looked at seriously while choosing a health insurance plan, it...
How to Check Your Income Tax Refund Status Online and Use RTI
We file income tax return and if there is a refund claim then it makes us joyous with a hope that we will soon get this money back in our account. But when this wait becomes longer, it becomes frustrating enough. Though, people should get their refund back within few months but sometimes it takes longer than...
