How to Create a Healthy Relationship

Budget 2024 expectations: 13 ways the FM can simplify matters for taxpayers: CII

noreply@blogger.com (mahipatel) — Sat, 27 Jan 2024 07:13:00 +0000

The Interim Budget 2024, will be presented by the finance minister, Nirmala Sitharaman, on February 1, 2024. A few key steps as suggested by CII that would help to rationalise and simplify taxes are as follows.

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Extend last date to file revised ITR for foreign tax credit in Budget 2024

noreply@blogger.com (mahipatel) — Sat, 27 Jan 2024 05:13:00 +0000

The government in Budget 2021 reduced the time limit to file revised income tax return by three months i.e., from March 31 to December 31. Earlier an individual used to get time till end of the assessment year to file their revised ITR but now they have three months less to do the same. This has created issues for those who used to file revised ITR to claim correct tax credit on foreign incomes.

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Income tax laws need to recognize more cities as metros for HRA tax exemption: Will Budget 2024 include these?

noreply@blogger.com (mahipatel) — Thu, 25 Jan 2024 05:13:00 +0000

The house rent allowance (HRA) is one of the common component in the salary structure of an employee. However, not all employees get similar benefit due to difference in the place of residence. The HRA rules allow 50% exemption for metro cities and 40% for non-metro cities. There is a need to amend definition of metro cities under the Income-tax Act.

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Budget 2024 can hike savings account interest deduction to Rs 50,000 from Rs 10,000

noreply@blogger.com (mahipatel) — Wed, 24 Jan 2024 09:13:00 +0000

An individual opting for old tax regime is eligible to get deduction under Section 80TTA for the interest earned from savings bank account as well as post office savings account. However, since this deduction has been introduced, the amount of deduction has been kept unchanged. There is a need to hike this deduction in the interim budget 2024.

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Income tax relief: Medical cost doubles in 5 years, will Budget 2024 increase Section 80D limit for health insurance?

noreply@blogger.com (mahipatel) — Wed, 24 Jan 2024 05:13:00 +0000

Budget 2024: The cost of treatment for common ailments that require hospitalisation has more than doubled in five years. A Rs-10-lakh health insurance, which could cover a family of three to five years back, is not adequate to take care of the medical needs now. The tax deduction limit of Rs 25,000 will not typically cover the premium of a health insurance cover of Rs 20 lakh for a family of two or more today. The insurance industry wants Budget 2024 to hike the limit of Section 80D. This move will enhance affordability and motivate individuals to prioritise their family’s health. Know what insurance industry wants from Finance Minister Niramala Sitharaman in Budget 2024.

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Hike in senior citizen FD? Additional interest rates should increase from 0.5% to 2%; FM gets proposal

noreply@blogger.com (mahipatel) — Tue, 23 Jan 2024 12:13:00 +0000

Senior citizen FD: On fixed deposits, most of the public and private sector banks offer 0.25% to 0.50% higher interest rates than what they offer to the general public. Certain banks also offer some additional interest rates to super senior citizens as well. Bharat Pensioners Samaj has requested the Finance Minister to hike the additional interest rate to 2% on senior citizen FDs. Read what they are demanding.

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Can foreign tax credit claim be changed in revised ITR? Budget 2024 should clarify

noreply@blogger.com (mahipatel) — Tue, 23 Jan 2024 06:13:00 +0000

Under the income tax laws, an individual is taxed based on the residential status. A residential status can either be resident or non-resident. Further, a 'Resident' is categorised into Not Ordinarily Resident (NOR) or Ordinarily Resident (OR) depending on his/her physical presence in India during the previous financial years. Read on to know how it impacts individual.

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Interim Budget 2024 could ease tax burden of homebuyers via these benefits

noreply@blogger.com (mahipatel) — Tue, 23 Jan 2024 05:13:00 +0000

Many homebuyers still opt for old tax regime instead of new tax regime because of twin tax benefits. The old tax regime allows homebuyers to claim deduction on the interest paid under Section 24 for maximum up to Rs 2 lakh. Similarly, homebuyers can claim deduction up to Rs 1.5 lakh under Section 80C for principal repayment of home loan.

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Cheque fraud victims to get Rs 74 lakh from Axis Bank after 15 years long legal fight

noreply@blogger.com (mahipatel) — Sat, 20 Jan 2024 04:13:00 +0000

Axis Bank cheque fraud:

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TDS at 1% pushing crypto investors to grey market: Will Budget 2024 reconsider it?

noreply@blogger.com (mahipatel) — Fri, 19 Jan 2024 06:13:00 +0000

TDS rate on crypto: in Budget 2022, the government brought out rules on how capital gains from different virtual digital assets such as crypto, NFTs will be taxed. Along with this, the government also imposed TDS on buying and selling of crypto. However, the TDS rate is pushing investors to buy and sell it via off market transactions.

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Deductions that must be added in new tax regime to make it attractive in interim Budget 2024: Experts

noreply@blogger.com (mahipatel) — Thu, 18 Jan 2024 06:13:00 +0000

Deductions under new tax regime: The interim budget by the Modi government is around the corner. Many salaried individuals are hoping for some tax relief in the Budget 2024. The government is trying to make taxpayers choose new tax regime instead of old tax regime. However, according to tax experts, more deductions must be offered under new tax regime to make it attractive.

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Interim Budget 2024 could simplify ITR filing process for NRIs

noreply@blogger.com (mahipatel) — Wed, 17 Jan 2024 06:13:00 +0000

NRI ITR filing: The income tax return filing for non-residents (NRI) is a painful process. This is because they are required to use ITR- to report for simple incomes such as interest income, dividends etc. However, resident individuals can use Simplified ITR-1 or Sahaj to report similar incomes. Union Budget 2024 in February should address this issue.

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After death of home loan borrower, husband fights for 13 years for life insurance claim against SBI Life Insurance and wins

noreply@blogger.com (mahipatel) — Tue, 16 Jan 2024 06:13:00 +0000

State Bank of India (SBI) Life Insurance was ordered to pay the full amount of insurance claim to settle the housing loan taken by the deceased policyholder policyholder from SBI. The home loan's sanctioned amount was Rs 9 lakh and the deceased policyholder specifically paid an additional money of Rs 63, 445 for this insurance policy.

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Working women prefer FDs to stocks: DBS Survey

noreply@blogger.com (mahipatel) — Mon, 15 Jan 2024 10:13:00 +0000

A recent survey conducted by DBS Bank in collaboration with CRISIL reveals that 47% of women earners in urban India make their own financial decisions, while 98% actively participate in long-term family decisions. When it comes to investments, working women tend to be risk-averse, with a majority of their investments in fixed deposits and savings accounts.

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Allow NPS investment tax break of Rs 50,000 in new tax regime in interim budget 2024: Experts

noreply@blogger.com (mahipatel) — Sat, 13 Jan 2024 07:13:00 +0000

An investment in National Pension System (NPS) allows three separate deductions under the Income-tax Act, 1961. These are under Section 80CCD (1), 80CCD (1b) and 80CCD (2). However, deduction under Section 80CCD(2) is available in old as well as new tax regime. Tax experts ask government to allow Rs 50,000 tax break in new tax regime as well for retirement purposes.

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Ease TDS rules for buying house property from NRIs in Budget 2024

noreply@blogger.com (mahipatel) — Fri, 12 Jan 2024 06:14:00 +0000

The government needs to facilitate ease of transacting and reduce compliance difficulties in buying property from NRIs. This is because a buyer needs to obtain TAN from income tax department to deduct and deposit taxes when buying property from NRI. This makes the selling of property by NRI very difficult.

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Income Tax in Budget 2024: Will standard deduction limit be hiked from Rs 50,000 to help salaried taxpayers?

noreply@blogger.com (mahipatel) — Thu, 11 Jan 2024 03:13:00 +0000

It has been almost 5 years since standard deduction was revised; the previous instance was in 2019. There are many compelling reasons to raise the limit of the standard deduction from Rs 50,000. Standard deduction, needs to be periodically adjusted to account for inflation, says Akhil Chandna, Partner, Grant Thornton Bharat. Though 2024 will see only an interim budget, middle-class taxpayers are eagerly hoping Finance Minister Nirmala Sitharaman will roll out some tax sops. Will the Budget 2024 raise standard deduction from Rs 50,000?

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Husband wins Rs 12.52 lakh as travel insurance claim after 14 years long fight against the insurer Bajaj Allianz

noreply@blogger.com (mahipatel) — Fri, 05 Jan 2024 07:13:00 +0000

A lady took out an overseas travel insurance policy from Bajaj Allianz General Insurance before travelling to USA. While in USA she was admitted to a hospital where it was found out that she had UTI and sepsis. After discharge from hospital, she filed a claim and it was rejected. From hereon the fight for insurance claim started in 2009.

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Son fights for 9 years with HDFC Bank to get Rs 5 lakh accidental death insurance cover on debit card

noreply@blogger.com (mahipatel) — Fri, 29 Dec 2023 07:13:00 +0000

National Consumer Disputes Redressal Commission (NCDRC) has ordered HDFC Bank to pay Rs 5 lakh as accidental death insurance cover to the son of its deceased customer. The deceased had a savings bank account with HDFC Bank and also an debit card. This debit card came with an accidental death insurance cover which is payable to the nominee of the debit card holder upon the cardholder's accidental death.

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50% of complaints against pvt life insurance companies in 22-23 were unfair business practice grievances: IRDAI

noreply@blogger.com (mahipatel) — Wed, 27 Dec 2023 10:13:00 +0000

The total number of grievances lodged against all life insurers in India decreased from 1,54,826 in 2021-22 to 1,27,378 in 2022-23, as per the report. Grievances against private sector life insurers increased from 40,624 in 2021-22 to 45,884 in 2022-23.

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India's first corporate credit card on RuPay network launched; UPI transactions & lifetime free and more

noreply@blogger.com (mahipatel) — Tue, 26 Dec 2023 14:13:00 +0000

IndusInd Bank claims to be the first bank in India to launch a corporate credit card on unified payment interface (UPI) network. This card can also be used for linking with an supporting UPI app and also offers both domestic and international airport lounge benefits. Check here for details about this RuPay credit card.

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Bank ordered to pay Rs 10 lakh to customer for loss of jewellery from bank locker

noreply@blogger.com (mahipatel) — Sat, 23 Dec 2023 06:15:00 +0000

State run UCO Bank was ordered to pay Rs 10 lakh compensation to a customer who maintained a bank locker in the bank's Civil Lines, Allahabad branch. What happened was thieves broke into the bank's branch and looted the contents of several lockers. Finding deficiency in service, NCDRC has ordered UCO Bank to pay Rs 10 lakh as compensation to the victim whose locker was looted.

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Surrender fee: Insurers propose dual structure as regulator pitches for a hike

noreply@blogger.com (mahipatel) — Sat, 23 Dec 2023 06:15:00 +0000

A higher surrender value on nonpar policies, which guarantee survival or maturity benefit without depending on insurers’ profit, could lead to an increase in more people giving up on policies prematurely, according to the insurers. This could result in a decline in persistence levels — or the proportion of policyholders who opt to pay premiums regularly — for the life insurance sector, according to them.

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Canara Bank to pay Rs 9 lakh as compensation to NRI for deficiency in services: NCDRC

noreply@blogger.com (mahipatel) — Thu, 21 Dec 2023 13:14:00 +0000

National Consumer Disputes Redressal Commission (NCDRC) has directed state run lender Canara Bank to pay Rs 9,09,288 to an non-resident Indian person due to deficiency in service and indulging in unfair trade practices. It is noteworthy that the NRI first filed a case in State Consumer Commission and then to NCDRC.

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How to Find Your Soulmate in 2024

noreply@blogger.com (mahipatel) — Sun, 17 Dec 2023 18:57:00 +0000

Are you hoping to find your soulmate in 2024? The quest for true love is an age-old pursuit that can be incredibly rewarding and yet, super frustrating. But, the good news is, today technology and changing social norms offer new opportunities in finding your perfect match! You just need to know how to do it. …

The post How to Find Your Soulmate in 2024 appeared first on Love in 90 Days.
Love in 90 Days - Dating Tips, Relationship Advice

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How to Create a Healthy Relationship

Budget 2024 expectations: 13 ways the FM can simplify matters for taxpayers: CII

Extend last date to file revised ITR for foreign tax credit in Budget 2024

Income tax laws need to recognize more cities as metros for HRA tax exemption: Will Budget 2024 include these?

Budget 2024 can hike savings account interest deduction to Rs 50,000 from Rs 10,000

Income tax relief: Medical cost doubles in 5 years, will Budget 2024 increase Section 80D limit for health insurance?

Hike in senior citizen FD? Additional interest rates should increase from 0.5% to 2%; FM gets proposal

Can foreign tax credit claim be changed in revised ITR? Budget 2024 should clarify

Interim Budget 2024 could ease tax burden of homebuyers via these benefits

​Cheque fraud victims to get Rs 74 lakh from Axis Bank after 15 years long legal fight

TDS at 1% pushing crypto investors to grey market: Will Budget 2024 reconsider it?

Deductions that must be added in new tax regime to make it attractive in interim Budget 2024: Experts

Interim Budget 2024 could simplify ITR filing process for NRIs

After death of home loan borrower, husband fights for 13 years for life insurance claim against SBI Life Insurance and wins

Working women prefer FDs to stocks: DBS Survey

Allow NPS investment tax break of Rs 50,000 in new tax regime in interim budget 2024: Experts

Ease TDS rules for buying house property from NRIs in Budget 2024

Income Tax in Budget 2024: Will standard deduction limit be hiked from Rs 50,000 to help salaried taxpayers?

Husband wins Rs 12.52 lakh as travel insurance claim after 14 years long fight against the insurer Bajaj Allianz

Son fights for 9 years with HDFC Bank to get Rs 5 lakh accidental death insurance cover on debit card

50% of complaints against pvt life insurance companies in 22-23 were unfair business practice grievances: IRDAI

India's first corporate credit card on RuPay network launched; UPI transactions & lifetime free and more

Bank ordered to pay Rs 10 lakh to customer for loss of jewellery from bank locker

Surrender fee: Insurers propose dual structure as regulator pitches for a hike

​Canara Bank to pay Rs 9 lakh as compensation to NRI for deficiency in services: NCDRC

How to Find Your Soulmate in 2024

Cheque fraud victims to get Rs 74 lakh from Axis Bank after 15 years long legal fight

Canara Bank to pay Rs 9 lakh as compensation to NRI for deficiency in services: NCDRC