Transfer PPF Account from Post Office to Bank

Transfer PPF account from post office to bank to avail anytime & anywhere banking for PPF

ppf-transferPPF account is a tension free investment for long term on account of its guaranteed returns and tax free returns. PPF account is provided by post office and banks. But not all banks provide PPF account. All public sector banks like SBI, Canara Bank, etc provides PPF account. Recently, in 2012, ICICI Bank is also allowed to provide PPF account. Banks have implemented core or centralized banking and online banking for their savings and other accounts. Banks have extended core or centralized banking and online banking to their PPF accounts too. Whereas post office still uses the paper and pen methods for operating and managing the PPF accounts, that is there no centralized banking and online banking available for post office PPF accounts. Read more…

Triple Death Benefit & Investment – LIC Flexi Plus

LIC’s flexi plus plan provides triple death benefit insurance protection and low risk investment

lic-flexi-plusLIC has launched a new plan – Flexi Plus Plan. LIC’s Flexi Plus is a unit linked assurance plan, which not only provides a lump sum benefit on death but also the maturity benefit irrespective of the survival of the Policyholder. This plan is specially designed for to provide a very good combination of protection and long term savings. Investment risks in the plan is borne by the policy holder. LIC’s Flexi Plus is a Unit Linked Life Insurance product, which is different from the traditional insurance products. Read more…

Tax Cannot be Saved by Gifting & Transferring

Income tax rule club gifted or transferred income to make sure tax is not avoided on income

We Indians love to gift money and assets to our near and dear ones liked wife, kids, etc. We Indians also share or split income and assets between various family members, assuming or thinking that this will reduce the overall income tax on the income or assets. Gifting or sharing income may or may not lower the income tax. Income tax rules specifies certain situations of gifting or sharing or transferring income where transferred income is taxed by clubbing with income of others. These guidelines are called clubbing of income. These guidelines ensure that tax is not avoided by transferring income to others who are in lower or zero tax bracket.

Scenarios of clubbing of income are -

  1. Income earned by minor child
  2. Income transferred but not the asset or investment Read more…

Get Duplicate Policy Doc When Original is Lost

Make sure either original or duplicate life insurance policy doc is always available with you

Any insurance policy document is an important document. The life insurance policy document is even more important document as it is needed to get back the maturity amount, and importantly is needed to claim the death benefit in case of an unfortunate event. So possession and preservation of life insurance policy document by the life insured is essential throughout the term of the policy. The policy document is legal document or contract between the life insured and the life insurance company listing the terms and conditions of the life insurance cover. Read more…

Non CTS Cheque Will Not be Accepted After 31 Mar

Give and accept only CTS complaint cheques after 31 Mar 2013 onwards

CTS Complaint Cheque Features

  1. Bank logo & bank details like address, IFSC code etc is printed on top left hand corner of cheque
  2. Cheque printer details printed across the cheque on left hand side of cheque has text “CTS-2010″
  3. Rupee symbol instead of text “Rs” in amount box
  4. Text indicating where to sign Read more…

Keep Updating Will for Smoother Transfer of Assets

Will needs to be changed and updated periodically based on changes in assets and bequeath list

Will is useful document to transfer smoothly the assets to the near and dear ones after one’s death. So it is important to keep the Will updated from time to time based on changes in your assets and / or near and dear ones. The maker or owner of the Will is legally called testator. The near and dear ones who are beneficiaries in the Will are legally called bequeathed.

The maker or testator of the Will can update or revoke Will at any time during the lifetime of the Will maker. Modifications to the existing Will, can be done by – Read more…

Online Tax Return Filing Completion –Ack for ITRV

Process of online income tax return filing is not completed till ack for ITRV is received from tax office

 

 

 

 

Online filing of income tax return is easy and convenient. Most of us use the online option, without digital signature, for filing of income tax return. And most of us file our income tax return on or before 31st July, the last date for filing of income tax return. As part of the online income tax return, we submit or post a signed copy of ITRV to the tax office, CPC ( Central Processing Centre). ITRV is the 1-page acknowledgement generated after online filing of income tax return. Most of us are comfortable and understand that the online income tax return process is complete on posting the signed ITRV to CPC.

Online Income Tax Return Completion Step Read more…

Fact- General Insurance Never pays 100% of Claim

Be aware of deductibles in general insurance policies to avoid surprises during claim settlement

General insurance products are taken to insure assets like car, house, jewellery, etc. Life insurance products are taken to insure life that is the insured amount is paid on death of the insured during the policy period. In life insurance product full insured amount is paid without any deductions. Full insured amount payment does not hold true for general insurance product. In general insurance products full insured amount is never paid or cannot be paid because of certain deductions in the claim amount. These deductions are logical but either is not shared with the insured or is not made aware to the insured by the insurance agent. It is advisable to be aware of these deductions so that there are no surprises or bad feeling at the time of making and getting the claim. The deductions from the insured or claimed amount are –

  1. Compulsory deductibles
  2. Sub-Limits on Claim Amount
  3. Terms and conditions
  4. Coverage type and amount Read more…

Non-Cashless Settlement in Health Insurance

Confirm with insurance company or TPA for cashless facility at a hospital before admission

Non-Cashless or reimbursement settlement process is payment of the medical expenses to the hospital by the insured, and then claiming the reimbursement of the payment from the insurance company or TPA ( Third Party Administrator ). Reimbursement settlement is either handled by the insurance company in-house, like Star Health, or by TPA, like National Insurance. Refer to the health insurance policy document or health insurance company website to know whether reimbursement claim is settled in-house by the insurance company or by TPA. In either case the reimbursement settlement process is the same. Reimbursement settlement is applicable for the following situations -

  1. The health insurance policy does not provide cashless settlement, that is the policy only provides reimbursement settlement Read more…

Cashless Settlement Process in Health Insurance

Confirm with insurance company or TPA for cashless facility at a hospital before admission

Health insurance product is meant to insure and pay for unplanned and expensive medical expenses. Taking health insurance is first step in insuring against medical expenses. The settlement of medical expenses against the health insurance product is the later on process of paying for the medical expenses. So after taking health insurance product it is advisable to be aware of the medical expenses settlement process. Settlement process can be cashless or reimbursement. This article discusses the cashless settlement process. The reimbursement settlement process will be discussed in a separate article. Read more…

Disclaimer

Mutual Funds, Equity, debt and ULIP investments are subject to market risks. Please read the risk factors, in the investment offer documents, carefully before investing.

Past performance of mutual funds may or may not be sustained in future.

The author of this page is an independent distributor of financial products. The author is a certified AMFI mutual fund distributor. The author is a certified life and general insurance advisor. The articles and information shared on this website is a point of view and for information purpose. One should not consider point of view shared in this website as an investment advice. Please consult your financial planner or broker before making any investments. Better, make your own decisions or judgments before making your investments. The author accepts no liability or loss arising from any investments made by you based on this website articles or comments. The point of view shared in this website is free to view, read and use. Readers of this website are not expected to pay any fee or other consideration for viewing and reading this website.

Privacy Policy

"We take your privacy seriously. Your privacy is important to us.

The application is designed and meant to share information on personal finance in general and Indian mutual funds in specific. The application is not designed to collect information from you. We collect information only when you contact us thru the various contact forms in our application. The collected information is needed to satisfactorily answer your query sent by you thru the contact forms.

We do not use, rent, sell, or share your information with anybody.

We display targeted advertisements thru ad serving companies. The displayed targeted advertisements are based on our application content and your information. We do not share or provide your information to any ad serving companies. The ad serving companies use their own proprietary technologies to display targeted advertisement based on your information provided by your web browser and our application content. For example, displaying targeted advertisements to viewer from a particular geographical area.

You can edit your investment portfolio login password. You can add or edit your new investment data. The added or edited new investment data is not shared with anybody. All your other investment and personal information data is view only. Your displayed investment and personal information data is provided by your investment service providers. The application does not provide any update feature of your investment and personal information data, so your investment and personal data with your investment service providers is safe and secure.

We send email notification to viewer subscribed to our personal finance article newsletter service. User can unsubscribe to the email notification service by following instructions contained in the message they receive.

Next Page »