Term insurance plays the vital role of a safety net and ensures one's loved ones are protected in the absence of the primary bread earner.

While pre-existing medical conditions may lead to premium loading or coverage restrictions, being transparent about one’s medical history is essential to avoid claim denials later.

Understanding the pros and cons of each option ensures you make a strategic decision that aligns with your financial future.

To support property owners, the government provides various tax benefits on let-out properties, which can be used by the taxpayers to reduce their overall taxable income.

Here are the top five reasons why women need term life insurance in 2025.

The Income Tax Department has recently released a new brochure highlighting how clubbing of income provisions is applicable for individual taxpayers.

Starting January 2025, lenders must update credit records every 15 days instead of once a month. As a result, financial activities will appear on your credit report sooner.

If you are availing exemptions or deductions under the old tax regime, the new tax regime may lead to a higher tax outgo.

We take a look at some common insurance mistakes which you must avoid to ensure your insurance truly safeguards your financial well-being.

The CBDT circular has been issued on 20 February 2025, and it will be applicable to the tax returns of the financial year 2024-25 (i.e. assessment year 2025-26).

GST On Health Insurance, GST On Term Insurance: Sources said that insurers and DFS have likely reached a consensus for 12 per cent GST on health and term insurance premiums. The current GST rate on heath and term insurance stands at 18 per cent.

Room rent limits in health insurance affect out-of-pocket expenses. Choosing a room above the limit incurs proportional deductions on related costs, including doctor's fees and nursing charges. Policies may have fixed caps or percentage-based limits, influencing treatment costs significantly.

LIC Smart Pension Scheme 2025: LIC has introduced the Smart Pension Plan, a non-linked, non-participating annuity plan offering liquidity options for retirees. With flexible payment frequencies and options for single or joint life annuities, the plan guarantees a steady income.

Designed as a non-par, non-linked savings and immediate annuity plan, it allows entry from 18 to 100 years, depending on the chosen annuity option.

The concept of Previous Year and Assessment Year, thus, were creating confusion in the minds of taxpayers as they represented two different years.

The Income Tax Bill 2025 has several aspects to be considered by the Non-Resident Indians as Clauses replace Sections.

The essence of the Bill remains the same and the existing tax base, tax rates, computation mechanism etc. have been largely unchanged.

The Income Tax Bill, 2025 defines 'online game' as any game offered on the internet and accessible through a computer or telecom device.

As per the new tax bill, 'undisclosed income' includes 'money, bullion, jewellery, virtual digital asset or other valuable article' or expenditure, income based on any entry or transaction, where such entry wholly or partly represents income which has not been disclosed.

The new income tax law will replace the existing Income Tax Act of 1961. The tax Bill is being brought to make the tax process simple and clear.

Old Vs New Tax Regime: For individuals earning Rs 15 lakh annually, opting for the old tax regime can result in tax savings of up to Rs 48,100, provided they maximize deductions like HRA, 80C, 80D, and home loan benefits.

Among the most significant announcements was the introduction of a New Income Tax Bill, set to be tabled this week

The revised tax structure also introduces a 25% tax slab for incomes between Rs 20 lakh and Rs 24 lakh.

The new structure will significantly enhance the accessibility of the middle class by leaving them with more disposable income.

Life insurance policies are not just a means of financial security but also offer tax benefits under specific conditions. The Income Tax Act, 1961, under Section 10(10D), provides exemptions on sums received from life insurance policies, including bonuses, subject to fulfilling certain criteria. Let's delve into the key aspects surrounding this provision.

The middle class, often seen as the silent engine driving India’s economic growth, is finally at the center of fiscal relief. This budget doesn’t just nod to their contributions; it delivers a tangible, transformative impact on their take-home income.

The standard deduction on salary streamlines tax filing for salaried individuals by reducing taxable income by a set amount, minimizing the overall tax burden.

New Tax Regime Slabs 2025 for Salaried Employees: As per the updated structure, individuals earning up to Rs 12 lakh per annum will not have to pay any income tax, offering a substantial benefit compared to previous years

Lately, there have been multiple demands to exempt term life insurance premiums from the ambit of GST (Goods and Services Tax). A high GST rate of 18% on life insurance premiums makes the plan too costly for many to afford.

With positives like growing digitisation, progressive regulatory policies, and a gradual rise in awareness, this is the opportunity to reimagine the insurance landscape

Insurers also want FM Sitharaman to consider extending the additional Rs 50,000 tax exemption for NPS contributions to pension plans from life insurance companies too

Initially, the Central Board of Direct Taxes (CBDT) set the original deadline for filing of belated or revised tax returns as December 31, 2024. Later, it extended this deadline to provide additional time for taxpayers.

The Life Insurance Corporation (LIC) told Parliament on Monday that it has unclaimed maturity amounts of Rs 880.93 crore for the year 2023–2024.

Health insurance is beneficial in difficult scenarios such as medical emergencies. Nonetheless, this is achievable only if the details provided by you and the company in the health insurance policy are clear.

In simple terms, a pre-existing disease is any health condition that an individual has experienced before purchasing a health insurance policy.

The regulatory reform from IRDAI that attracted the maximum attention was the change in computation of surrender values and charges for endowment policyholders, but the regulator modified several other rules that directly affect retail life, health and general insurance policyholders.