Amitava Chakrabarty

Articles By Amitava Chakrabarty

788 Articles

Exhausted 80C limit? You can still get tax benefits on life insurance premium this year

Due to the presence of so many components, the 80C limit gets exhausted quickly and taxpayers couldn't get benefits on many other tax-saving investments.

income tax, income tax benefits, life insurance premium, tax benefits u/s 80C, LTC Scheme, new life insurance policy, term insurance plan, ULIP, annuity plan, endowment plan, GST

Why standardisation of health insurance policies leads to increase in premium?

After the policies are being standardised as per the IRDAI directive, policyholders are getting renewal notices with higher premium even if there are no changes in age slab or the sum insured.

health insurance, standerdisation of health insurance policies, renewal premium, increase in health insurance premium, IRDAI, standardisation of premium

Amid dwindling interest rates, LIC of India launches new plan with guaranteed tax-free return

For a 30-year old individual opting for Rs 10 lakh Basic Sum Assured for a policy term of 15 years, the IRR would be 7.215%, which is equivalent to over 10.31% taxable FD interest.

life insurance, LIC of India, LIC Bima Jyoti Plan, Guaranteed Addition, LIC policy, tax-free return, FD interest, Internal Rate of Return, IRR

Tax on PF interest: What are the other viable investment opportunities?

Finance Minister Nirmala Sitharaman has announced in the Union Budget 2021-22 that PF contributions over Rs 2.5 lakh in a financial year will be taxable from the next financial year.

Budget 2021, Union Budget 2020-21, income tax, provident fund, PF, interest on provident fund, alternative investment options, EPFO, National Pension System, NPS, Equity Linked Saving Scheme, ELSS

What’s in store for crypto investors? Find out

Countries like the US, China, Japan, Switzerland, South Korea and South Africa have embraced cryptocurrency, while uncertainty looms in India.

Bitcoin, cryptocurrency, Tesla, MasterCard, Paypal, Microstrategy, Cryptocurrency and Regulation of Official Digital Currency Bill, cryptocurrency ban, Ethereum

Leave Travel Concession vs LTC Cash Voucher Scheme: Which is more beneficial?

Under the LTC Cash Voucher Scheme, employees are allowed to purchase goods and avail services that attract GST rate of 12 per cent or more in lieu of travel.

Leave Travel Concession, LTC, LTC Cash Voucher Scheme, Covid-19 pandemic, nationwide lockdown, tax-free incentive, goods, services, GST, tax benefit, travel fare, Leave Encashment

Keep or Sell: What should cryptocurrency investors do amid uncertainty?

In case of an outright ban, investors may not be able to use any bank account in India to deposit the sale proceeds after liquidation of the cryptocurrencies.

Bitcoin, cryptocurrency, Tesla, MasterCard, Paypal, Microstrategy, Cryptocurrency and Regulation of Official Digital Currency Bill, cryptocurrency ban, Ethereum, Doge, Amazon, Apple, Walmart

Now you may open a bank account in US to broaden financial footprint

The benefit of having bank accounts in the US for the consumers in India is that it will broaden their horizons with a global financial footprint.

bank account, digital bank account in the US, travel to US, forex markups, international charges, rupee depreciation, buying property in the US

Bitcoin crosses $50,000 level, but what’s the future of cryptocurrencies in India?

Without any recognition and regulation in India, the future of cryptcurrencies is still uncertain in the country.

Bitcoin, cryptocurrency, Tesla, MasterCard, Paypal, Microstrategy, Cryptocurrency and Regulation of Official Digital Currency Bill, cryptocurrency ban

Investment Tips: How to change preferences as per your age slabs

Financial planning is not a one time process and you need to reassess your investments time to time as needs and preferences change with your age.

Investment tips, financial planning, Long-term investments, aggressive investment, savings, equity, debt, retirement fund, emergency fund, borrowing, loan, insurance, EMI

Where should young investors invest in 2021?

While one of the factors that motivates new investors is tax saving, investing to fulfill life goals would require investments beyond the fixed-income tax-saving instruments.

investment tips, where to invest in 2021, equity, debt, asset allocation, asset rebalancing, tax-saving investments, large-cap stocks, mid-cap stocks, small-cap stocks, mutual fund, MF, SIP, STP, strategy for salaried investors

Mutual Fund Investment: Should you do asset allocation yourself or opt for hybrid funds?

Through asset allocation, one may invest at a low market and book profit at a high market for higher benefits to maximise wealth creation.

mutual fund, MF, mutual fund investment, asset allocation, wealth creation, hybrid fund, asset rebalancing, debt, equity, taxation, capital gain tax, expense ratio

Tax on Provident Fund interest: Will interest on PPF, GPF, CPF contributions also become taxable?

It's a matter of concern whether PPF (Public Provident Fund) contributions will also be taken into consideration while calculating the total amount of contribution.

Budget 2021, Union Budget 2021-22, income tax, tax on PF interest, Public Provident Fund, PPF, GPF, Contributory Provident Fund, CPF, RPF

Mutual Fund Investment: You may not get MF units at desired NAV even if applied before cut off time

For investment purposes in equity-oriented and debt Mutual Funds, the cut off time becomes less relevant as the units will only be allotted after the realisation of funds.

mutual fund, MF, mutual fund investment, MF cutoff time, net asset value, NAV, same day NAV, application before cutoff time, realisation of fund, SEBI, equity fund, debt fund, liquid fund, systematic investment plan, SIP

Exemption in filing of ITR by senior citizens: How to avail the benefit

Budget 2021: To avail the benefit, an assesee may have have interest income from the same bank in which he is receiving his pension income.

Union Budget 2021-22, Budget 2021, income tax return, ITR, Exemption in filing of ITR by senior citizens, pension income, interest income, how to get ITR filing exemption

Budget 2021: Buyers of affordable houses get more time to avail additional tax benefits

Budget 2021: By buying an affordable house, a tax payer may avail tax benefits up to Rs 3.5 on interest paid on home loan taken to buy such a house.

how to reduce home loan interest burden, reduce interest cost in loan, MCLR, RLLR Loans, rbi, repo rate, emi, home loan, SBI home loans,

Budget 2021: Will you have to bear the burden of free Covid-19 vaccines?

Budget 2021 Expectations: If it is made optional for people to buy vaccines to get vaccinated, most people – especially the poor – would prefer not to have it.

Union Budget 2021, Union Budget 2021-22 Expectations, Novel Coronavirus Covid-19, Covid-19 vaccine, free Covid vaccines

Give priority to risk prevention over insurance claim settlement: IRDAI Chairman

For the financial year ended March 31, 2020, the claims settlement ratio for the entire industry remained stagnant at 85.18 per cent.

World Cancer Day, life insurance policy, Cancer cover, life goals, hospitalization , lifestyle

When to borrow and how credit scores help in borrowing

Borrowing provides lump sum money to buy a product when sufficient fund is not there in the hand of a customer.

borrowing, home loan, education loan, credit score, credit card, future earnings, creditworthiness, how credit scores help in borrowing

Submission of investment proof: All you need to know to minimise tax deduction

To minimise the tax deduction, you should know the provisions of tax-saving investments under various sections of the Income Tax Act.

income tax, tax-saving investments, submission of investment proof, know to minimise tax deduction, tax deducted at source, TDS, 80C, PF, PPF, NPS, ELSS, ULIP, life insurance premium, Sukanya Samriddhi Yojana Account, health insurance premium

Lost job during lockdown? That lucrative job offer may leave you poorer

With stalled production due to Covid-19 lockdown, many companies reduced the size of their workforce to cut cost, resulting in widespread job losses.

This will lead to a reshuffling of jobs in the economy over a decade, and over 100 million workers will have to find a new job, it said, adding 18 million of those will be in India itself.

Budget 2021 Expectations: Widen the scope for tax-saving investments

Budget 2021 Expectations for Income Tax: As the preparations for Union Budget 2021-22 are in the final stage, it is expected that the scope of the tax-saving investments may be increased, if not the limit.

Budget 2021, Union Budget 2021-22 Expectations, Income Tax, tax-saving investments, 80C benefits, life insurance, ULIP, PPF, Sukanya Samriddhi Yojana, ELSS, NSC, long-term FD, home loan, affordable home, NPS

Budget 2021 Expectations: What FM may do on direct tax front

Budget 2021 Expectations for Direct Taxes: Expectations are high as Finance Minister Nirmala Sitharaman is going to present the Union Budget amid Covid-19 pandemic.

Budget 2021, Union Budget 2021-22 Expectations, Direct Taxes, Covid-19 pandemic, finance minister Nirmala Sitharaman, income tax, capital gain tax, long-term capital gain, hospitalisation expense, incom tax slabs, tax-saving investments

Financial Management for Senior Citizens: How to beat inflation while getting regular income

The absence of regular income severely limits the risk-taking capacity of senior citizens and the safety of capital becomes the topmost priority.

Financial Management for Senior Citizens, How to beat inflation while getting regular income, fixed deposit, FD, FD rate, liquid fund, cost of living, inflation, emergency fund, regular income, equity, debt

Budget 2021 Expectation: Exempt LTCG tax on equities to boost capital markets

Budget 2021 Expectations for LTCG Tax on Equities: The tax on Long Term Capital Gains (LTCG) on equities has been reintroduced in the Union Budget 2018.

Budget 2021, Union Budget 2020-21 Expectations, LTCG tax on Equities, long-term capital gain tax, securities transaction tax, stamp duty, dividend distribution tax

Budget 2021 Expectations: Taxpayers want the old income tax regime to continue

Budget 2021 Expectations for Income Tax: Although, the new income tax regime has lower tax rates on income between Rs 5 lakh to Rs 15 lakh, but no tax exemptions and deductions will be available in the new regime.

Union Budget 2021, Union Budget 2020-21 Expectations for income tax, Income Tax benefits, affordable house, interest on home loan, old income tax regime, new income tax regime, tax benefits, tax slabs, tax rates, tax exemption, tax deduction

Budget 2021 Expectation: Tax relaxations, incentives to enhance insurance penetration

Budget 2021 Expectations for Insurance Industry: While most lenders force the borrowers to insure the assets, purchased on loan for financial security, relaxations in taxes may make people take insurances voluntarily.

Union Budget 2021, Budget 2020-21 Expectations for Insurance Industry, tax incentive, tax relaxation, income tax benefit u/s 80C, GST, Life Insurance, Health Insurance, Fire Insurance, Motor Insurance, Home Insurance
Income Tax Calculator, Budget 2019, How to Calculate Income Tax


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