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Tax department issues ITR scrutiny notices. Here’s what to expect and how to file a reply

Tax department issues ITR scrutiny notices. Here’s what to expect and how to file a reply

For each notice from the tax department, a particular procedure needs to be followed to file a reply The department can pick up ITRs for scrutiny till up to six months from the end of the financial year in which the return was filed.

  •   Source: Livemint
  •   Published on: 17/10/2019

How safe do you think is your bank deposit?

How safe do you think is your bank deposit?

The PMC Bank crisis saw a substantial portion of depositors’ money getting blocked with the bank. Many fear the worse is yet to come if the bank goes in for liquidation. So, how safe is your deposit in such a situation


5 New Changes Made To Health Insurance Policies

5 New Changes Made To Health Insurance Policies

Health insurance is a necessity in the current times of expensive medical treatments. To make health insurance policies more standardized and simple for individuals, the IRDAI (Insurance Regulatory And Development Authority of India) had recently announced some changes.


How is the residential status of an individual determined for income tax

How is the residential status of an individual determined for income tax

The income tax laws classify the residential status of an individual into three categories, depending on the individual's stay in India in the relevant financial year as well as his/her stay in the previous years. Here is a look at these categories.


LIC beats private firms in premiums

LIC beats private firms in premiums

The insurer reported first-year premium of ₹89,980.2 crore

  •   Source: The Hindu
  •   Published on: 15/10/2019

LIC dominance of India's life insurance market nears three-fourth mark

LIC dominance of India's life insurance market nears three-fourth mark

LIC registered a business growth of 18 percent in September against last year, and a very robust 42 percent in the first half of the financial year between April and September, the latest data released by insurance regulators IRDAI showed.


RBI increases withdrawal limit for PMC Bank depositors from Rs 25,000 to Rs 40,000

RBI increases withdrawal limit for PMC Bank depositors from Rs 25,000 to Rs 40,000

The economic offences wing of Mumbai Police jaarrested Rakesh Wadhwan and his son Sarang Wadhwan, directors of HDIL.


What Is Assignment In Life Insurance? Know All

What Is Assignment In Life Insurance? Know All

Selling of life insurance policies is not possible as with other assets and herein you need to surrender the policy that entails a costs, however if you wish to liquidate your investment in it,


Life insurers’ new premium sees 35% YoY growth in H1FY20; LIC beats industry

Life insurers’ new premium sees 35% YoY growth in H1FY20; LIC beats industry

LIC saw a 41.7 percent YoY increase in first year premiums in H1