Income Tax - Article discusses about Deduction in respect of Life Insurance Premium, PPF, NSC, etc. [Section 80C]/ medical insurance premium [Section 80D]/ expenditure on training/ medical treatment of a dependent, being a person with disability [Section 80DD]/ expenditure on medical treatment of specified diseases [Section 80DDB], Amount of deduction...
Read MoreIncome Tax - A medical emergency can heavily impact your emotional as well as financial life. Hence, it is prudent that you buy a health insurance plan early in life. You should even consider buying critical illness insurance and personal accident insurance for specific coverage. Moreover, when you buy health insurance plans in your early 30s, you get...
Read MoreIncome Tax - All of us in our day to day life are incurring medical expenses either for ourself or for the dependent family members like spouse, children, parents, brothers and sisters. In this article we are going to talk about the funding of these medical expenses and income tax treatment of these expenses and reimbursements thereof (if any)....
Read MoreIncome Tax - By now, you might have already submitted investment proofs to your company’s finance department to claim a tax deduction. However, if you have been running behind date, here are some useful tips to save your hard-earned money and taxes before the D-day. ...
Read MoreIncome Tax - So, this is It? Checklist to Choose your Best Health Insurance Policy:- 1. Hospital Room Rent Eligibility, 2. Co Payment and Sub Limits for diseases (if any), 3. Waiting Period for Pre Existing Disease, 4. Waiting period for few specific diseases like Cataract, Hernia etc, 5. Cover Amount and Premium charged as compared to other players w...
Read MoreIncome Tax - We invoke your kind attention towards the repeated violation of Drugs & Cosmetics Act by selling pharmacy through their respective e-commerce channels which is adversely affecting the business of lakh of Medicine Retailers, Chemists etc who are giving medicines to needy people by observing all provisions of the law and the rules....
Read MoreIncome Tax - A new 10.3% service tax has been introduced on all cashless mediclaim transactions from July 1, to be paid by Third Party Administrators (TPA) to hospitals later. What does this mean for consumers? According to lawyer and consumer activist Jehangir Gai, "Consider that a patient with a cover of Rs 1 lakh has been allowed a claim of the fu...
Read MoreIncome Tax - Medical care at overseas hospitals could well be within your reach with a number of health insurance providers planning to launch a premium health cover shortly. Health insurance providers, both private and state-owned, are readying products targeted at high networth individuals that would provide a cover of about Rs 50 lakh....
Read MoreRef: IRDA/HLT/MISC/CIR/030/02/2011 - (10/02/2011) - There have been several representations from consumer associations and policyholders for enabling portability of health insurance policies from one insurer to other insurer. Persons shifting from one region to other regions are many times put to disadvantage due to lack of insurers’ office provid...
Read MoreNA - (21/08/2010) - The Public Sector General Insurance Companies have been incurring health insurance claims in excess of premium received and after factoring in acquisition costs, which are around 10%, and the management expenses which are over 25%, the Combined Ratio i.e. the total expenses for health portfolio exce...
Read MoreNA - (18/08/2010) - Statement in Response to Calling Attention Motion Notice on Unilateral Revision / Withdrawal of Medical (Cashless) Insurance Products by Public Sector Insurance Companies. The Minister of State for Finance Shri Namo Narain Meena made the following Statement in response to the Calling Attention Motio...
Read MoreNA - (13/07/2010) - Concerned over the plight of patients after withdrawal of the cashless treatment facility by some hospitals at the behest of PSU insurance firms, noted heart surgeon Naresh Trehan on Monday said all-out efforts are underway to resolve the issue....
Read MoreNA - (23/06/2010) - Mediclaim policyholders, who are not satisfied with the service of their existing service providers, will be able to switch to another insurer soon without any change in the premium outgo.However, this facility will be available to those policyholders who are insured for a sum of Rs 1 lakh and above...
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