IRDA Health insurance

Sukanya Samriddhi yojana

PF Subscribers will benefit

Accident Insurance

விபத்துக் காப்பீடு ஏன் அவசியம்? மனித வாழ்க்கை என்பது நிலையற்றது. காப்பீடு என்பது நம்மால் கணிக்க முடியாத விபத்துகளிலிருந்து நம்மையும், நம் குடும்பத்தையும் காப்பாற்றுவதற்காகத்தான். விபத்துக் காப்பீடு ( Accident Insurance ) என்பது ஒருவரின் விபத்தினாலான இறப்பு அல்லது விபத்தினால் ஏற்படும் ஊனத்துக்கான இழப்பீடு தருவதாகும். விபத்து என்பது ஒருவரை இறப்புக்கோ அல்லது ஊனத்துக்கோ தள்ளக்கூடும். இத்தகைய விபத்தினால், ஒருவருடைய வருவாய் ஈட்டும் தகுதிகூட போய்விடலாம். இத்தகைய சூழ்நிலை களிலிருந்து, அவரை விபத்துக் காப்பீடு காப்பாற்றும். ஒருவருக்கு விபத்தினால் அசம்பாவிதம் ஏற்பட்டால் குடும்பத்திற்கு இழப்பீடு கொடுக்கக்கூடியது இந்த விபத்துக் காப்பீடு பாலிசி. பகுதி ஊனம், நிரந்தர ஊனம், காயம் ஏற்பட்டாலும் இழப்பீடு கிடைக்கும். விபத்துக் காப்பீடு பலன்கள் 1. இறப்பு நிகழ்தல் 2. கைகள், கால்கள், கண்கள் போன்ற இரண்டு உறுப்புகள் / ஓர் உறுப்பு இழந்தால் 3. நிரந்தர முழு ஊனம், சிறு ஊனம் ஏற்ட்டால், தற்காலிக முழு ஊனம் ஏற்பட்டால் இந்தப் பலன்கள் நிறுவனத்திற்கு நிறுவனம் மாறுபடக்கூடும். காப்பீடு பாலிசியின் சிறப்பு அம்சங்கள் 1. இந்த பாலிசியை எடுக்க மருத்துவப் பரிசோதனைத் தேவையில்லை. 2. குறைந்த பிரீமியத்தில் போதுமான காப்பீடு. 3. உலகளாவிய கவரேஜ் 4. இழப்பீட்டை ஓரளவு சுலபமான முறையில் அளிப்பது தொழில் மற்றும் பணியைப் பொறுத்து இந்த பாலிசியில் பிரீமியம் கணக்கிடப்படும். மருத்துவச் செலவுக்கும் (24 மணி நேரம் மருத்துவ மனையில் அனுமதிக்கப்பட்டிருந்தால்) இழப்பீடு கிடைக்கும். இந்த பாலிசியை தனிநபர் ஒருவர் தனி பாலிசியாகவும் எடுத்துக் கொள்ளலாம். நிறுவனங்கள் அவற்றின் பணியாளர்களுக்குக் குழு காப்பீடாகவும் இந்த பாலிசியை எடுத்துத் தரலாம். எப்படி செயல்படுகிறது? ஒருவர் 10 லட்ச ரூபாய்க்கு விபத்துக் காப்பீடு எடுத்திருக்கிறார் என்று வைத்துக் கொள்வோம். சிறு ஊனமாக இருந்தால் கவரேஜ் தொகையான 10 லட்ச ரூபாயில் 50% (Depending upon the Deformity. Proportionate of sum Insured will be given) அதாவது, ரூ. 5 லட்சம் இழப்பீடு தொகையாக வழங்கப்படும். அதுவே, நிரந்திர முழு ஊனமாக இருப்பின் 10 லட்ச ரூபாயும் இழப்பீடாக அளிக்கப்படும். நிறுவனங்களின் நிபந்தனைகள், விதிமுறைகளைப் புரிந்துகொண்டு விபத்துக் காப்பீட்டு பாலிசியை எடுக்க வேண்டும். ஏனென்றால், இவை நிறுவனத்திற்கு நிறுவனம் மாறுபடும் தன்மை கொண்டவை என்பதை மனதில் கொள்வது அவசியம். இழப்பீடு பெறுவது எப்படி? இழப்பீடு (Claim) கோரும் போது, நினைவில் கொள்ள வேண்டியவை... 1. விபத்து குறித்த தக வலை உடனடியாக (Immediate Notice) இன் ஷூரன்ஸ் நிறுவனத் துக்குத் தெரிவிக்க வேண்டும். 2. க்ளெய் படிவம் மருத்துவச் சான்று, மருத்துவமனை பில்களுடன் இணைத்து தரப்பட வேண்டும். 3. விபத்தினால் இறப்பு ஏற்பட்டால், நாமினி,இறப்புச் சான்றிதழ்,ஒரிஜினல் இன்ஷூரன்ஸ் பாலிசி, போலீஸ் ரிப்போர்ட் போன்றவற்றைச் சமர்ப்பிக்க வேண்டும். இந்த ஆவணங்கள் நிறுவனங்களுக்கு நிறுவனம் மாறுபடக் கூடும் Call 98401 77017 Devarajan for Ur Accident Insurance Needs, Services. U can also call us for Health Insurance/Mediclaim Services, Details, suggestion, etc. www.starhealthdevarajan.com #starhealth #Mediclaim #healthinsurance

IT filing Extend to Aug 31

GOVT EXTENDS DEADLINE FOR FILING INCOME TAX RETURNS BY A MONTH TO AUGUST 31 The Central Board of Direct Taxes (CBDT) has extended the due date for filing of Income Tax Returns to August 31, 2018, for categories of taxpayers who were to file their returns by July 31. The decision comes days ahead of the July 31 deadline, which several groups had requested the government to push to later. CBDT had notified the new income tax return forms for assessment year 2018-19 on April 5. Experts said the introduction of new forms was leading to delays in filing of returns. Further, the CBDT had said non-filing of ITR before the due date from this assessment year would lead to a penalty of Rs 1,000, 5,000 and Rs 10,000, depending on when the returns were filed after the deadline. The fine for taxpayers having income under Rs 5 lakh remained at Rs 1,000. If you are still unclear in choosing the appropriate ITR for disclosing your income earned during the previous year, here's a quick guide on the various ITR forms. Read more at http://starhealthdevarajan.com/news/559

Family Health is Priority

Call 98401 77017 Devarajan for Your Existing/New Insurance Services, needs, Suggestion, Portability Services, Claims Related Services, etc www.starhealthdevarajan.com

Penalty on Late filing. when

NO PENALTY ON LATE FILING OF ITR IF YOUR INCOME DOESN'T CROSS THIS LIMIT The penalty you will have to pay From this year, a taxpayer is liable to pay late ITR filing fees of: a) Rs 5,000 if tax return is filed after the deadline but on or before December 31 of the relevant assessment year (in this case December 31, 2018). b) Rs 10,000 if tax return is filed after December 31 but before the end the relevant assessment year, i.e., before March 31 (in this case between 1 January 2019 and March 31, 2019). If you are a small taxpayer whose gross total income does not exceed Rs 5 lakh then the maximum fees you are liable to pay is Rs 1,000. This law of levying late filing fees under section 234F was introduced in the Budget 2017 and became effective for financial year 2017-18 or assessment year 2018-19 onward. Assessment year is the year immediately following the financial year for which the ITR is filed. The assessment year for the financial year 2017-18 is 2018-19. Who will not have to pay? Read more at http://starhealthdevarajan.com/news/555 Call 98401 77017 Devarajan for Your Existing/New Insurance Services, needs, Suggestion, Portability Services, Claims Related Services, etc www.starhealthdevarajan.com

LIfe Insurance Cover

HOW BIG SHOULD YOUR LIFE INSURANCE COVER BE? THESE FACTORS WILL HELP YOU DECIDE When Prasad Patil bought a term insurance cover of Rs 1 crore, he was single and had no dependents. Now married, he feels the Rs 1 crore insurance cover won’t be enough to sustain his family’s needs and cover his goals 10 years down the line. “It may be adequate now, but I have to plan for a situation where we will have kids. Also, my income will rise significantly later. To cover that loss perhaps a higher cover might be required,” says the Mumbai-based self-employed professional. Policyholders like Patil are a rare breed. To most others, a Rs 1 crore insurance cover seems sufficiently large to take care of all their financial goals and sustain their family’s expenses in case something untoward happened to them. “We are seeing many people buying a cover that they are mentally comfortable with, and Rs 1 crore is a popular number. But many buy without doing the basic math,” says Mahavir Chopra, Director, Health, Life and Strategic Initiatives, Coverfox.com. To be fair, the eight figure sum certainly seems very large. If a family puts Rs 1 crore in a bank deposit that earns 7% interest, it will get a monthly income of Rs 58,333. That money can sustain the expenses of an average middle class Indian household. Or can it? This calculation seems fine on paper, but won’t work when you take into account the outstanding loans taken by the policyholder, the relentless march of inflation and the impact of income tax. Also, one needs to put aside a corpus for certain one-time expenses, such as children’s education and marriage and the retirement needs of the spouse. Our calculations show that if the individual has a home loan and two children, the Rs 1 crore received as insurance money will not sustain the family for more than 12-13 years. Read more at www.starhealthdevarajan.com/news/553

Fiancial Planning

5 CALCULATORS THAT CAN MAKE FINANCIAL PLANNING EASY If you are avoiding financial planning due to complicated calculations, be it determining the future value of goals or life cover needed, here are the formulae and calculators that will ease your task, says ET wealth. 1. Future goal value What will be the corpus you will have to save for a goal that is several years away? Why do you need it? As you set your goals, be it the child’s education or wedding, you will have to calculate the amount you need to save. The future value of the goal will be different from the current one because inflation will increase the value of the corpus you need. For instance, if you want to save for your three-year-old child’s education for a course that costs Rs 10 lakh today, you will have to find out how much it will cost 15 years from now, considering the rate of inflation at 7%. Formula Without the calculator, you will have to find out the future value by using this formula: FV = PV (1 + r/100)n FV: Future value PV: Present value r: Inflation rate n: Number of years to goal Read more at www.starhealthdevarajan.com/news/552

Family Mediclaim

Call 98401 77017 Devarajan for Your Existing/New Insurance Services, needs, Suggestion, Portability Services, Claims Related Services, etc www.starhealthdevarajan.com #medidlaim #மருத்துவக்காப்பீடு #starhealth

While filing IT returns, U may face these 4 Challenges

FILING YOUR INCOME TAX RETURNS? HERE ARE 4 CHALLENGES THAT YOU MAY FACE As the last date for filing income tax return approaches, most tax payers would be busy collating various information required to file their returns. The process can be quite cumbersome in the absence of efficient financial planning, and any negligence on the tax payer's part can lead to undue payment of tax. Detailed below are some of the biggest challenges that one may face while filing his or her income tax return. Challenge 1: Computation of taxable income Before filing your income tax return, it is vital for you to identify and compute your taxable income. Apart from a review and analysis of your bank account statements, identifying your sources of income and segregating them into 5 sections -- income from salary (including basic salary, commissions and bonuses, and allowances), income from house or property, income from businesses or profession, income from capital gains, and income from other sources -- is also important. To ensure that you do not miss out on any income received, download form 26AS from the tax department's website. The form will reflect all income received by you and tax so deducted. Also, reporting your exempt income while filing your return would help reduce the possibility of a demand notice from the tax department. Read more at http://starhealthdevarajan.com/news/548 Call 98401 77017 Devarajan for Your Existing/New Insurance Services, needs, Suggestion, Portability Services, Claims Related Services, etc www.starhealthdevarajan.com #medidlaim #மருத்துவக்காப்பீடு #starhealth

IT Return filing for 2017-18

INCOME TAX RETURN FILING FOR FY 2017-18: HERE ARE ALL THE LINKS YOU NEED The deadline to file your income tax return (ITR) for FY 2017-18 is July, 31, 2018 (unless the government decides to extend it). By filing your return on time, along with certain benefits such as carry forward of losses, you will not have to pay a late filing penalty. Remember, if you file your ITR after the deadline you will have to pay late filing fees of up to Rs 10,000. All the ITRs can be filed only in electronic mode expect for certain categories of tax assesses who can file physical ITRs. To file ITR, one must be registered on the e-filing website of the income tax department. Here are all the links you need to help you e-file your tax return by yourself and also a step-by-step guide on how to do it. STEP-BY-STEP GUIDE TO FILE YOUR INCOME TAX RETURN (ITR) 1. Collect required documents such as TDS certificates (Form16), capital gains statement The first step is to collect all the documents you will need to file your ITR such as Form 16, salary slips, and interest certificates. The documents will help you compute your taxable income and will provide you the details of tax deducted at source (TDS) from your income in the FY 2017-18. Form-16, given by your employer, is a TDS certificate. Similarly, if your bank has deducted any TDS on the interest payments made to you, they are required to issue Form-16A. Ensure that all the TDS certificates received by you from all the deductors are in the TRACES format. TDS certificate received by you should be digitally signed. They will bear a check mark indicating that the signature is verified. Non-verified signatures on the TDS certificate will have a question mark over it. You will be required to verify it. You must check that the amount of tax deducted as shown in the TDS certificate matches the amount shown in salary slips. This ensures that TDS deducted by your employer from your income is deposited with the government against your PAN. Similarly, if you have redeemed mutual fund unit in FY 2017-18, you can ask them to provide the transaction statement and capital gains statement for the same. Read more at http://starhealthdevarajan.com/news/547 Call 98401 77017 Devarajan for Your Existing/New Insurance Services, needs, Suggestion, Portability Services, Claims Related Services, etc www.starhealthdevarajan.com #medidlaim #மருத்துவக்காப்பீடு #starhealth

LTA & HRA Exemptions

INCOME TAX: EXPLAINED – HOW YOU CAN BENEFIT FROM LTA & HRA TAX EXEMPTIONS Salaried employees can avail the benefit of various tax exemptions with respect to allowances such as house rent allowance (HRA), gratuity allowance, leave encashment, conveyance/transport allowance, leave travel allowance (LTA) and many others given by their employers during their tenure of service. Leave Travel Allowance Section 10(5) of the Income-Tax Act, 1961, read with Rule 2B, provides for the exemption and outlines the conditions subject to which LTA is exempt. LTA exemption can be claimed where the employer provides LTA to employee for leave to any place in India taken by the employee and their family. Such exemption is limited to the extent of actual travel costs incurred by the employee. Travel has to be undertaken within India and overseas destinations are not covered for exemption. For example, where an employer provides LTA of Rs 35,000, but an employee spends only Rs 30,000 on the travel cost, then the exemption is limited to only Rs 30,000. Travel cost means the cost of travel and does not include any other expenses such as food, hotel stay, etc. The meaning of ‘family’ for the purposes of exemption includes spouse and children and parents, brothers and sisters who are wholly or mainly dependent on you. An individual would not be able to claim the exemption in relation to his parents, brother or sisters unless they are wholly or mainly dependent on the individual. Further, exemption is not available for more than two children of an individual born after October 1, 1998. This restriction does not apply in respect of children born before this date, and also in cases where one, after having one child, begets multiple children (twins, triplets, quadruplets, etc.,) on the second occasion. The LTA rules provide for a tax exemption only in respect of two journeys performed in a block of four calendar years. The current block runs from 2018-2021. If an individual does not use her exemption during any block on any one or on both occasions, exemption can be carried over to the next block and used in the calendar year immediately following that block. The individual needs to submit proof of travel to his employer and also keep copies for his own records. Proof of travel could be tickets, boarding passes, invoice of travel agent, duty slip, etc . Read more at http://starhealthdevarajan.com/news/545 For Insurance, Mutual fund Related Services, U can always call 98401 77017 Devarajan www.licdevarajan.com

Know about LIC Claims

9 REASONS TO REJECT YOUR LIFE INSURANCE CLAIM Life insurance is the best way to secure financial support for your loved ones in case of any unforeseen circumstances, but sometimes mistakes or ignorance on your part can lead to rejection of an insurance claim. While it's crucial that you choose an insurance plan that benefits in times of need, it is equally important that you know beforehand what instances can leave space for the rejection of insurance claim. Therefore, before you okay your insurance policy, go through these 9 situations that can put your insurance claim in jeopardy. Providing incorrect information If you give any misleading information -- like concealing medical history -- while buying an insurance policy, it could lead to the rejection of your claim. Smoking after buying policy The life insurance premium is higher for smokers as compared to non-smokers. If the insured starts smoking after subscribing to an insurance policy, the policyholder needs to make the insurance company aware of it, which may lead to an increase in premium payment. If the insured person fails to report about his changed health-related habit in time and develops a life-threatening disease, the company can decline the claim payment. Drunk driving If the insurance company finds out the insured person was driving under the influence of alcohol or drugs, which subsequently led to death, the company holds the right to reject the insurance claim. Breaking a law If the policyholder dies as a result of breaking a law or involvement in crime, the insurance company can reject the claim. Read more at http://starhealthdevarajan.com/news/543 for Insurance relatd Services U can always Call 9840177017 Devarajan www.licdevarajan.com

Capital Gains

DISCLOSE CAPITAL GAINS IN YOUR INCOME TAX RETURN While filing your income tax return (ITR) for assessment year (AY) 2018-19, the deadline for which is 31 July, don’t just look at the Form 16 you get from your employer even if you are a salaried individual. Make sure you disclose gains or losses made from selling shares or redeeming mutual fund (MF) units, or selling a property or jewellery. Irrespective of the amount gained or lost, one must disclose capital gains or losses while filing ITR. Here is how you can calculate capital gains from different assets and how to disclose them while filing ITR. Calculating capital gains Profits or gains arising from transfer of a capital asset such as property, gold, shares and bonds are considered capital gains and taxed under the income head “capital gains”. Such gains are of two types—short-term and long-term—depending on the period of holding. Capital gains are calculated by deducting the cost of acquiring the asset from its sale value. But the rules are different for different assets. Real estate: Gains made from transfer of immovable property (land, house, apartment) within two years of purchase are considered short-term capital gains (STCG); after two years, they become long-term capital gains (LTCG). The LTCG rate is 20% with indexation, while STCG is taxed at the slab rate. To calculate LTCG, first calculate the indexed cost of acquisition “by multiplying the cost of acquisition with the notified cost inflation index (CII) for the year of sale and dividing this by CII of the year of purchase,” said Sandeep Sehgal, director-tax and regulatory, Ashok Maheshwary & Associates LLP, a chartered accountancy firm. But if the asset was bought before 2001, then you need to use the fair market value (FMV) as on 1 April 2001 and then calculate the indexed cost of acquisition. For instance, if the property was bought in 1995, you need to calculate the property’s FMV as on 1 April 2001 and then arrive at the cost of acquisition. Read more on how to calculate FMV and indexed cost of acquisition at here and here. The rules are different for inherited or gifted property. Here, the “cost of acquisition incurred by the previous owner and his or her period of holding is considered to compute gains,” said Sehgal. Read more at www.starhealthdevarajan.com/news/540

ITR forms this year

FILING INCOME TAX RETURNS: KNOW THE NEW REQUIREMENTS IN ITR FORMS THIS YEAR The last date to file your income tax returns is nearing. As you prepare to file your returns you should know the changes that have been incorporated in the tax filing form by the Income Tax department in the returns forms for the current year. In case you do not comply with the new requirements you are at risk of getting a notice from the tax department. “ITR Forms are notified every year by the Central Board of Direct Taxes (CBDT). At the beginning of the Financial Year, the CBDT has released new ITR Forms for the assessment year 2018-19. These ITR Forms will be applicable to file income-tax returns in respect of income earned during the period April 1, 2017, to March 31, 2018,” said Vikas Dahiya, Director, All India ITR. While ITR 1 is to be used for salaried taxpayers, NRIs need to use Form ITR 2. Aarti Raote, Director, Deloitte Haskins and Sells LLP said that while filing ITR 1 and 2 forms, which are specifically applicable for salaried taxpayers, there are some details that need to be additionally provided this year. The most important change in ITR 1 is that it can only be used by ‘Residents’ having income from salaries, one house property and income from other sources, and where there is no treaty claim/ foreign assets; income is less than Rs 50 lakh. Individuals who qualify to be non-residents or residents but not ordinarily resident, cannot use ITR Form 1. Raote further says “Information that is required additionally is the fee levy for belated tax returns (filed after July 31), tax withheld by the tenant on rental payments and details of exemption from capital gains. Further, in the light of the introduction of Section 50CA - cases where consideration on sale of unquoted shares is lower than Fair Market Value (FMV) - the FMV for such shares determined in the prescribed manner, needs to be reported.” Also, the taxpayers who are having foreign income would now need to provide tax treaty rates that have been availed by them. Thus, the taxpayer needs to be ready with detailed information to ensure complete disclosure in the tax return. Read more at http://starhealthdevarajan.com/news/539 www.starhealthdevarajan.com www.licdevarajan.com for Insurance Related Services, U can always Call 98401 77017 Devarajan

Protect Ur Family

Call 98401 77017 Devarajan for Your Existing/New Insurance Services, needs, Suggestion, Portability Services, Claims Related Services, etc www.starhealthdevarajan.com

Senior Citizen Red Carpet

Call 98401 77017 Devarajan for Your Existing/New Insurance Services, needs, Suggestion, Portability Services, Claims Related Services, etc www.starhealthdevarajan.com

Uncertainties of Life

Dont miss Tax breaks, while filing IT return

FILING INCOME TAX RETURN? DON'T MISS THESE 9 TAX BREAKS Income tax return filing is a process that is often completed mechanically. However, investing a little time and thought into it can allow you to claim deductions you might have failed to while submitting your investment declarations. Read on to see how you can maximise your tax breaks. 1. Savings account interest The balance in your savings account earns interest every quarter, which is considered part of your total income. However, the income tax (I-T) department, under Section 80TTA, allows exemption of up to Rs 10,000 on this interest. Interest earned on post office savings will also fetch a similar benefit. 2. Rent exemption without HRA Many taxpayers shell out house rent but can’t claim deductions due to the absence of the house rent allowance (HRA) component in their salary. Under Section 80GG, you can avail of the benefit for the rent even if your salary package does not include HRA, provided you are not eligible for any housing benefit. You will not qualify for this break if you, your spouse or child owns the house you live in. The exemption is limited to the least of: rent paid less 10% of total income; or Rs 5,000 a month; or 25% of total income. 3. Breaks for specified illnesses Keeping in mind the fact that treatment of ailments like cancer, kidney failure or AIDS entails huge expenses, the income tax rules allow relief under Section 80DDB to tax-payers suffering from such diseases. http://starhealthdevarajan.com/news/532 for Insurance Related Services call 98401 77017 Devaraqjan www.licdevarajan.com

While filing IT, mention these things

MENTION THESE SMALL THINGS WHILE FILING INCOME TAX RETURNS It is July. The first quarter of the financial year has come to an end and appraisals too are behind for most of salaried employees. Most of you must have got your Form 16 from your employers. That paves the way for filing of income tax returns as the July 31 deadline is fast approaching. Income tax return filing is an important act and has its own benefits if you do it before the deadline. Here are a few seemingly small things that all salaried individuals should take care of while filing their income. Check your Form 26AS This is the buzzword and do not miss it. “Tax authorities match the entries in Form 26AS with your submissions,” points out Akhil Chandna, Director, Grant Thornton India LLP. “You must check your Form 26AS online and ensure that there are not any mismatches between your income tax returns and the contents of Form 26AS.” Check the year and format “You must be careful while filing your income tax returns. Do confirm if you are filing for the correct assessment year and you have chosen the right format,” says Balwant Jain. There are multiple formats for different types of tax payers. Also these formats change over the years. If you are filing income tax returns for multiple years, you have to be doubly careful. http://starhealthdevarajan.com/news/538 For Insurance Related Services Call 9840177017 Devarajan www.licdevarajan.com

Save ItThrough Family Members

HOW TO SAVE INCOME TAX THROUGH YOUR FAMILY MEMBERS? WHAT YOU MUST KNOW Saving tax through family! Surprised! Yes, we can save tax through our family members, i.e., parents, major children and wife. To save tax through family members we need to invest in ways that our tax burden shifts to our family members and we can take the benefit of income tax slabs. Saving tax through family means not only saving in tax but also means higher post-tax returns on your investment. Here is how we can save tax through our family members. Save tax through parents You can save tax through parents as well as through parents-in-law. To achieve this goal, you need to give away a portion of your funds, either as a gift or a loan, to your parents as well as your parents-in-law so that in years to follow your income tax burden becomes lighter as the income on funds transferred by you to them would bring in income which would be taxed in their hands. Let’s assume that both your parents are senior citizens. Here’s how you go about it. Income tax deductions allow senior citizens a tax-free income of Rs 3 lakh. To exhaust this limit, say, you gift `28 lakh to each parent in cash. Of this, both can individually put Rs 15 lakh in a senior citizens savings scheme that earns a return of 8.3% and pays interest every quarter. Each will get yearly interest of nearly `1.2 lakh. If they invest the remaining `13 lakh each in the State Bank of India’s (SBI) fixed deposit (FD) of eight years (at an interest rate of 7.25%) that pays interest each quarter, it will fetch them each an income of nearly `0.95 lakh annually. That means your parents have individually earned `.215 lakh each year. With the tax-free limit at `3 lakh they don’t even need to file tax returns.

It Return. Inherited Propoerty

INCOME TAX RETURN EFILING FOR AY2018-19: INHERITED PROPERTY? YOU MUST FILE IN ITR FORM; HERE’S HOW Benjamin Franklin had said that “there are only two things which are certain in life: death and taxes.” But in this world, even death cannot save a person from paying taxes. It’s really hard to lose someone. If this truth was not bitter enough, paying taxes and filing income tax return added insult to injury. After the death of a person, the legal heirs have to go through legal compliances like inheritance of deceased property, the filing of income-tax return on behalf of deceased, so on and so forth. If the deceased person had some capital assets they are devolved on the legal heirs. However, income from such capital assets or any other income earned by the deceased person during the year has to be reported in the income-tax return being filed by the legal heirs on behalf of the deceased person. This article enumerates all tax compliances which may arise after the death of a person. 1. PAYMENT OF TAX ON BEHALF OF A DECEASED PERSON As per section 159 of the Income-tax Act, 1961, in case of death of an assessee, his legal representative is deemed as an assessee who shall be liable to pay any sum which the deceased assessee would have been liable to pay had he not died. However, the liability of the legal heir to pay the Income-tax shall be limited to the value of assets inherited. Read more at http://starhealthdevarajan.com/news/535 for Insuranc Related Services, U can always Call 98401 77017 Devarajan www.licdevarajan.com

When Real Estaste down, What Can we do

2018, THE YEAR REAL ESTATE Down New Delhi: We all know somebody who has made a mini fortune by investing in a flat or residential plot at the right time. Despite the usual ups and downs, there exists a deep-rooted sense among Indian investors that residential property is a sure-fire investment which delivers excellent returns. This wisdom has been passed on from generation to generation. Yet, unless you’ve been living under a rock, it’s evident that residential real estate has been down in the dumps. According to National Housing Bank data, property prices in Mumbai and Bengaluru increased annually by just about 7.50% and 5.75% respectively between June 2013 and September 2017. In Delhi, prices actually fell by -0.70% annually during the same period. Beyond the data, we hear numerous stories of investors in distress with their money stuck in delayed projects. There are also stories of many brokers, in fact the entire realty ecosystem, struggling to cope with this slowdown. Read more at http://starhealthdevarajan.com/news/534 Call 9840177017 Devarajan for insurance related Servies www.licdevarajan.com