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| Tax Implications of A Term Life Policy Posted: 07 Dec 2013 02:51 AM PST Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
Any sum received under a life insurance policy is tax exempt under clause (10D) of section 10 on the condition that the premium paid for such a policy does not exceed 10% of actual capital sum assured. Term insurance premiums are tax deductible under Section 80 C of the Income Tax Act up to an amount of INR 1 Lakh.
Happy Investing!! We can help. Call 0 94 8300 8300 (India) Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com
--------------------------------------------- Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
Invest Tax Saving Mutual Funds Online Tax Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)
Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications
These Application Forms can be used for buying regular mutual funds also
Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )
------------------ Best Performing Mutual Funds
|
| What Is the Coverage To Be Taken To Insure Home? Posted: 07 Dec 2013 01:23 AM PST Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
How does one decide the amount of coverage one needs to take in order to insure one's home?A house basically consists of land on which the house is built on, the actual structure of the house and the locality in which the house is built in. If the market value of the house is INR 70 Lakhs the building cost might be only INR 25 Lakhs. The rest of the cost is due to the locality and the market value of the land.The home insurance covers only the cost of the structure and is concerned mainly with the cost of rebuilding the structure.This cost mainly depends on the city in which one resides in. If one is staying in a Metro the costs of construction are relatively higher. The locality might not have too much of a role to play as far as cost of construction is concerned. A house valued at INR 60 Lakhs might have a premium of around INR 1800-2000 for a home insurance policy taken to protect the basic structure and an additional amount of around INR 500 for the protection of the contents of the house up to an amount of INR 10 Lakhs. A premium of INR 1000-1500 is paid as additional coverage for the protection against burglary and damage to doors and windows up to an amount of INR 10 Lakhs.On a payment of additional premium of around INR 5000-6000 per annum one can obtain protection against damage due to terrorism up to an amount of INR 50 Lakhs and the insurance of the contents of the house up to 10 Lakhs, death of a domestic worker due to an accident, Loss of rent due to damage of the house for a period of around 6 months, and the damage caused to the house given for rent for a period of 6 months.
Happy Investing!! We can help. Call 0 94 8300 8300 (India) Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com
--------------------------------------------- Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
Invest Tax Saving Mutual Funds Online Tax Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)
Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications
These Application Forms can be used for buying regular mutual funds also
Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )
------------------ Best Performing Mutual Funds
|
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