Insurance is a contract which provides protection against a possible eventuality or risk. So, insurance in its purest form is an expense rather than an investment.Fortunately or unfortunately, many of us mix life insurance and investment. We expect Returns from our investment in Life .......Continue Reading.....
Latest NRI Gift Tax Rules 2019-20 | Gifts to NRIs can be Taxable now!
Gifts, who would not like to receive them? Gift is something we all like to receive from our beloved ones. But, a very common and frequent question running in the mind of taxpayers is the tax implications of gifts in India.What is considered as a Gift under Income Tax Act?A gift is Money or .......Continue Reading.....
Is Rs 1.5 lakh additional Home Loan Tax Deduction really beneficial? | New Section 80EEA
In the latest Union Budget an additional Income Tax deduction of Rs 1.5 lakh on affordable home loans has been announced. A new Section 80EEA will be introduced under the IT Act.As per the proposal, income tax payers will get maximum tax benefit of Rs 3.5 lakh on home loans of up to Rs 45 lakh .......Continue Reading.....
Understanding Maternity Benefits of Health Insurance plans in India
Becoming a parent is one of the most mesmerizing experiences of life.But this happiness come with great responsibilities.If you are planning for a baby in the near future, your first responsibility should be to plan your finances for the big moment, especially the medical expenses during and .......Continue Reading.....
LIC Jeevan Amar Plan : New Offline Term Life Insurance Plan | Details & Review
As per the latest news, LIC is proposing to launch its new offline Term Life Insurance plan called as 'LIC Tech- Term Plan' (Plan no 855).LIC already has been offering different types of Term insurance plans in its term plan product catalogue;LIC e-Term.Amulya Jeevan – .......Continue Reading.....
LIC Tech Term Plan : New Online Term Life Insurance Plan | Details & Review
As per the latest news, LIC is proposing to launch its new Online Term Life Insurance plan called as 'LIC Tech Term Plan' (Plan no 854).LIC already has been offering different types of Term insurance plans in its term plan product catalogue;LIC e-Term.Amulya Jeevan – II.LIC Anmol .......Continue Reading.....
Important & Comprehensive list of Budget 2019-20 Proposals related to Personal Finance | W.e.f AY 2020-21
We are all aware that Interim-budget was presented in Feb 2019 by the then Finance Minister Shri. Piyush Goyal. With a new government now in place, a full general budget has now been tabled in the Parliament by the current FM Smt. Nirmala Sitharaman.In both the Budgets, certain .......Continue Reading.....
Rs 50000 Standard Deduction from FY 2019-20 | What is the impact on your Taxable Income?
In the Union (interim) Budget 2019-20, the Finance Minister has proposed to provide Rs 50000 Standard Deduction from salary income to all employees & pensioners.The Standard Deduction of Rs. 40,000 was made available in Budget 2018 (FY 2018-19 / AY 2019-20). It replaced the transport .......Continue Reading.....
About ReLakhs
ReLakhs.com is a blog on personal finances. The main aim is to present the information on financial products in a simple,unbiased and easy to understand manner .This blog covers wide array of personal finance topics like insurance,home loans,banking services,mutual funds,tax planning,stock .......Continue Reading.....