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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


SBI Wrote Off Bad Loans Worth Rs 76,600 Crore of 220 Defaulters Who Owed Over Rs 100 Crore Each

SBI Wrote Off Bad Loans Worth Rs 76,600 Crore of 220 Defaulters Who Owed Over Rs 100 Crore Each

As of March 31, SBI has declared as unrecoverable outstanding worth Rs 37,700 crore that 33 borrowers, with loans of Rs 500 crore and more, owed it.

  •   Source: News18
  •   Published on: 10/10/2019

Not worried about market movement: LIC

Not worried about market movement: LIC

In an interview with TOI, LIC chairman M R Kumar speaks about the focus areas for the corporation 'We are long-term players — so long as the scrip gives a return over 10-15 years, it is good enough,' Kumar stated


LIC refutes wealth erosion rumours, says it is in

LIC refutes wealth erosion rumours, says it is in "sound financial health"

LIC asked its policyholders to not believe any rumours circulating on social media about the insurer's financial position


LIC Refutes Social Media Rumours of Its Weak Financial Position, Says Policyholders' Money Secure

LIC Refutes Social Media Rumours of Its Weak Financial Position, Says Policyholders' Money Secure

Messages wrongly speculate about LIC's financial health and attempt to portray the largest life insurer in poor light in the eyes of its stakeholders, said the corporation.

  •   Source: News18
  •   Published on: 09/10/2019

Avoid depending on children for post-retirement money needs

Avoid depending on children for post-retirement money needs

You shouldn’t be basing your savings decision on the notion that your sons and daughters will take care of you in your non-earning decades


RBI cuts repo rate by 25 bps to 5.15%, lowest since March 2010

RBI cuts repo rate by 25 bps to 5.15%, lowest since March 2010

It was in addition to a cumulative 110 bps rate cut that RBI has announced so far this year.


Got an income tax notice? Check if its valid

Got an income tax notice? Check if its valid

You do not need to reply or act upon any any income tax notice if it doesn't have a Document Identification Number You can easily check the validity of any income tax notice or letter that you might have received

  •   Source: Livemint
  •   Published on: 02/10/2019

5 changes that will impact your personal finances from October 1

5 changes that will impact your personal finances from October 1

Starting today, all I-T notices, letters or other tax related correspondence will carry a unique number.


Gold is not a good investment. Here are reasons why

Gold is not a good investment. Here are reasons why

Gold makes sense for those who have no access to or no trust in the financial system, or expect to be in such a situation. It’s an alternate currency.