Tax Benefits on Health Insurance

Health Insurance is aimed at providing the Insured with financial cover in case of any medical exigency.  Health Insurance covers the medical cost incurred on treatment undergone by the policy holder or any of the member covered under the policy. The Health Insurance plans have been discussed in my previous articles. However, in this post I will discuss about the Tax Benefits on Health Insurance available to the Individuals on the premium paid towards the same. These tax benefits are…

Health Insurance: Importance & Need

Health Insurance
“Health is our greatest Asset”, every individual should follow a healthy diet in order to keep oneself fit. As unhealthy lifestyle leads to health ailments which not only restricts normal life but also leads to financial drain. It very important to stay as fit as possible and be disciplined in life. Individuals should also ensure that they have adequate financial cover in case of any eventuality. Thus, Health Insurance is a necessity with the rising treatment costs coupled with inflationary…

Personal Accident Insurance

Personal Accident Insurance
“Life is Uncertain”, one may not be able to anticipate any eventuality which may arise in the future, but can always prepare him/her self against any such scenario. Thereby, planning for the future is very important, especially “Financial Planning” as it would ensure that our future goals and obligations do not suffer due to our own shortcomings. Personal Accident Insurance plan is one such financial cover which is often ignored while chalking out a “Financial Plan”. More so, as no…

Xiaomi (Huami) Amazfit Bip Smartwatch

Amazfit Bip
Huami has recently launched two smart watches in India, Amazfit Bip and Amazfit Stratos. The Amazfit Bip is the economical variant priced at Rs 5,499/- while Amazfit Stratos is a premium variant priced at Rs 15,999/-. Huami is a subsidiary brand of Xiaomi (popularly known as Mi in India), involved in designing and manufacturing of smart wearable products. The variants had earlier been launched in China and US before making its way to India. The smart watch is available exclusively…

How to e-File Income Tax Return (ITR1-Sahaj)?

File Income Tax Return
The last date to file income tax return for the Financial Year 2017-18 (Assessment Year 2018-19) is 31st July, 2018 (Date extended till 31st August,2018 for certain categories of tax payers). Previously, I had shared details of the Income Tax Return (ITR) Forms applicable for different class of income, link for the same is provided below. Income Tax Filing: Types of Income Tax Forms Income Tax Slabs For Financial Year 2017-18 (Assessment Year 2018-19) In this post I will discuss…

SIP By SIP, Plan for a Secure Future!!!

SIP Investment
Ever imagined that securing one’s future could be as easy as taking a “SIP” of Coffee? Sounds weird!!! Well, I’m going to explain as to how one can easily secure his/her future just by being financially disciplined. In my previous post I have already expressed the need to “Plan Your Investment”, in this post I will discuss the possible ways to achieve your Financial Goals with small investments. Attainment of Financial Goals does not necessarily require lump sum investments. The…

Instant e-PAN Online For Individuals

Instant e-PAN Online
Income Tax Department (IDT) has launched facility to apply for instant e-PAN online for Individuals with valid Aadhaar ID, free of cost, for limited time period. This step is taken to facilitate the income tax return filing process, the last date for return filing is 31st July, 2018. The facility is provided for free and e-PAN (Permanent Account Number) is allotted in shortest possible time to the Individual. Currently, the Instant e-PAN facility (Beta Version) is closed as of 06.07.2018.…

Income Tax Return (ITR) Forms: AY 2018-19

Income Tax Return Forms
Income Tax Return (ITR) Forms for the Financial Year 2017-18 (Assessment Year 2018-19) is available on the Income Tax Portal. Central Board of Direct Taxation (CBDT) has issued 7 Income Tax Return (ITR) forms for the Financial Year 2017-18 (Assessment Year 2018-19). The applicability of the Income Tax Return (ITR) forms has been discussed below. Return Forms: Income Tax Assessment Year 2018-19 Some of the changes introduced in the previous year have been continued in the current Assessment Year as…

Investment in Mutual Funds: All You Need To Know

Mutual Funds
Mutual Fund is emerging as the preferred choice of investment among investors. Moreover, since the interest rate in Small Savings Schemes is dropping, Individuals are turning to Mutual Funds. In my opinion too, Investment in mutual fund is one of the effective ways to manage your funds and ensure that one is able to meet his/her future financial obligations. Individuals with minimum or no knowledge about the Capital market may also invest in Mutual Funds and enjoy the benefits of high…

Plan Your Investment: Be Wise, Choose Wise!!!

Investment in Mutual Funds
“Investment”, if you go by the meaning of the word, it simply implies the “the act or process of investing money for profit”, it is simple isn’t it??? Well with respect to personal finance, the honest answer is a “Yes” and a “No”, the same will be explained as I continue further. Just at the end of the year 2015, Standard and Poor’s Financial Services released the findings of the Global Financial Literacy Survey, according to the report close to…