Personal Finance Print

First-year premiums decline 28% this fiscal due to lockdown

However, participants in the life insurance industry say that there has been high demand for term plans, which are pure protection product by the investors.

Insurers believe that there would be demand of term plans going forward as investors have realised importance of having a basic insurance cover rather than investing in endowments plans.

Income Tax Return filing: New ITR forms for FY2019-20 – Know which one is for you

An important aspect of ITR forms for FY 2019-20 is that the ITR forms have been revised to incorporate the benefits of various timeline extensions granted by government due to Covid-19 and lockdown.

Taxpayers having income from capital gains cannot opt for ITR-4 as well.

Income Tax saving with PPF, ELSS, other 80C options for FY 2020-21: Deadline ends soon [Your Queries]

However, since your daughter’s income in India is less than the taxable limit, she shall be required to pay taxes on the Indian income in Isle of Man only, hence no double taxation.

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Systematic Withdrawal Plan: Invest for three years before going for SWP; Here’s why

Long story short, first invest for three years and then go for SWP and the chances of erosion of capital would be significantly less as compared to redemption before three years.

Fixed Income: Buying bonds? Just hold till maturity

If you buy G-Secs or AAA oriented portfolios (Bharat Bond ETF / high-credit-rated Banking & PSU Funds) and hold till maturity, both credit risk and volatility risk will be taken care of

Covid-19: Five budgeting dilemmas amidst a cash crunch

Being judicious while making difficult choices during tough times can save us from bigger financial crises in the future.

Health insurance: Health policies to cover telemedicine costs

In order to address mis-selling of indemnity-based health insurance policies and increasing out-of-pocket expenses incurred by policyholders during treatment, IRDAI has directed all insurers to standa

How Coronavirus has made life insurance even more important now

For young people, a protection plan is an excellent option. It is best to take term and savings-oriented products together

Switching fee: Home loan borrowers at housing finance companies cry foul

While processing and switching fees have been considered a regular practice for years now, the new repo-linked pricing regime being followed by banks has brought the stark difference in rates into rel

Insurers get 9,700 claims worth Rs 150 crore for Covid-19

Participants in the non-life insurance industry believes that given the current scenario claims would further increase from states like Maharashtra and Delhi in the days to come.

Insurance: How to file claims for damage due to cyclone

Due to Covid-19 pandemic, policyholders are being encouraged to use electronic communication for correspondence while intimating the claim and filing relevant documents

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Covid-19 crisis: Six types of loans you can opt for during hard times

Gold loan allows borrowers to meet their fund requirements by monetising their gold jewellery.

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Your Queries: Moratorium stops your loan from turning NPA, but you still have to pay

The RBI moratorium in these difficult corona times does not do away with your obligation to repay.

Loan EMI Moratorium impact

No big surge in EPF withdrawals during Covid-19 lockdown

This is an indication that many low-wage earners in the organised sector were also under financial stress due to lockdown.

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Failed to make tax-saving investment in March? You can do it now

Considering the disruptions caused by lockdown and financial hardship/ cash flow issued faced by taxpayers due to reduced business activity, due dates for all tax-saving investments has been extended

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How to build DIY insurance corpus

The only difference is that they focus on specific needs of the insurance seeker that may need lesser coverage or premium outgo.

Covid impact: Insurers must press the digital pedal

Insurers must strengthen digital communications with their customers as well as digitise much of the claims process.

Low interest rates: Opt for repo-linked housing loan now; Here’s why

The transmission of low interest rates has been quicker in the case of Repo-Linked Lending Rates than Marginal Cost-of Lending Rate or a Base Lending Rate home loan.

Fixed Deposit: Pre-mature withdrawal, loan on company FDs explained

HFCs and NBFCs now offer pre-mature withdrawal of fixed deposits besides loan against these FDs

Life Insurers take note: It’s the time to connect with policyholders

At a time when many may delay payment of renewal premiums, insurers need to check if they are happy with their policies

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Investing in fluctuating markets: Buy, hold, or exit?

The last time we saw such a precipitous drop was in 2008 when it lost around 60% of its uptrend gains in a year’s time.

For both the above reasons, stock market movements are not entirely rational. However, there is a method to the madness.

Facing difficulty in applying for loan moratorium? This is what you need to do

In the absence of proof, it may not be possible to get moratorium for April 2020. However for availing the moratorium for May to August 2020, drop an email on hello@clix.capital.

The details and link for availing the moratorium will be on this page once the bank has worked out its policy.

Fixed income: Opt for longer tenure to earn higher interest rates

With banks slashing FD rates, investors have to look for alternative debt products like post office FDs, PPF, EPF/ VPF and Bharat Bond ETFs for higher post-tax returns

Your Queries: Franklin Templeton debt fund crisis does not impact its equity funds

In the last week of April 2020, Franklin Templeton Mutual Fund announced its decision to wind up six of its fixed-income schemes.

The Franklin Templeton debt fund crisis does not impact its equity funds, which would continue to function as before.

Tax talk: How TDS at reduced rates will affect taxpayers

Deduction and collection of tax at reduced rates till the end of the financial year 2020-21 shall leave more disposable income in the hands of recipients and shall have the desired impact of enhancing

Monthly payments: Pause SIP if needed, but do pay your EMIs

If you are facing cash-flow difficulties and drawing from your savings, even then continue your EMI as the interest on your loan is likely to be higher than what you would earn from your savings

Laid off? You have to pay tax on severance pay

Additional compensation/ severance pay given by employer is taxed as ‘profits in lieu of salary’. But gratuity, retrenchment compensation or VRS is tax exempt in certain cases

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