Ahura Insurance

The income tax department with a view to encouraging savings and investments amongst the taxpayers has provided various deductions from the taxable income under Chapter VI A deductions. Section 80C being the most famous, there are other deductions that are beneficial for the taxpayers to reduce their tax liability. Let us understand these deductions in detail:   Section 80C - Deductions on Investments: Section 80C is a favorite section for all taxpayers as it helps them to reduce the taxable burden with relevant tax-saving instruments or on allowed expenses. A taxpayer can have a maximum deduction of Rs 1.5 lakh every year from the total income.   Individuals and HUFs can take benefit from this deduction. Companies, partnership firms, and LLPs are not allowed to avail the benefit of this deduction.   Section 80TTA - Interest on Savings Accounts: As an individual or as a HUF, you can claim a deduction of a maximum of Rs 10,000 against interest income from y...

Marine insurance is one of the oldest types of insurance, dating back centuries. The concept of insurance actually started with marine insurance. Later, with time, it developed a lot with the expansion of trade and business. Marine insurance mostly addresses international trades that involve the transit of goods from one place to another through ships. Oceans are always unpredictable, and hence, these transshipments of goods always carry a huge amount of risk. Therefore, it is crucial to secure your goods from unforeseen uncertainties or disasters with the help of marine insurance. Additionally, marine insurance is crucial because it provides protection against any loss or damage to the commodities and cargo that the ship is transporting. A marine policy offers financial protection against damage or loss to cargo or goods while they are being transported by truck, vehicle, ship, vessel, courier, etc. A marine insurance policy provides protection against a variety of dangers that cargo,...

You may be aware of the basic features of your health insurance policy. But do you know that there are additional options that you can use to customize your health insurance policy? Each of these options (called covers) can be opted for depending on your preferences.  Accident Hospitalisation: As per the Ministry of Road and Transports annual report on road accidents based on the data reported by Police authorities throughout India, road safety continues to be a cause for concern:  Therefore, it is sensible to opt for additional accidental cover, it will be of great help in case of hospitalization due to accident. This amount will be in addition to the normal hospitalization Sum Insured. Donor Expenses: cover the cost of medical expenses (subject to applicable limits) incurred in respect of the donor for allowed organ transplant procedures. These are usually part of the features within a policy. However, most companies will require continuous insurance for at least 2/3 year...

  Although the new regime has lower slab rates and fewer exemptions, deductions and exclusions are still a part of the previous regime. Prior to the start of the fiscal year, employees must tell their employers what kind of tax structure they desire. WHY DO YOU HAVE TO OPT FOR A TAX REGIME?  Employers are requesting information on the preferred regime from their Employees because the Central Board of Direct Taxes (Circular no 04/2023) made it COMPULSORY for them to do so. The employer will apply the proper TDS fees. In order to avoid the Employer automatically deducting TDS in accordance with the New Tax Regime, you must choose between the New and Old Tax Regimes. It makes no difference whether the taxpayer files an income tax return under the Old or New Income Tax Regimes what the purpose of TDS on Salary is. You can make adjustments before sending your ITR. TIPS ON WHICH IS THE RIGHT TAX REGIME FOR YOU  For Income up to Rs 7 lakh the New Tax Regime is better  In ca...

It's a crucial query that requires careful reflection. Let's examine the relevance of term plans and the timing of their purchase in order to respond to this query.  Financial decisions: We typically only purchase items that will benefit our family and refrain from splurging on frivolous items. When buying toothpaste or a car, we employ a yardstick of utility, product quality, etc. Therefore, it makes sense that when we spend or invest money, we give careful consideration to the product's quality and financial returns. In a similar vein, we should be aware of the financial value of our human lives. You need term insurance right away if your current insurance coverage is less than the cost of a human life.  Loss of income: When we have cough, cold, fever or other medical issues, we take rest for a limited period. During those time it doesn’t strike us as temporary loss of income, maybe since we are getting paid. If these days of temporary income loss were to stretch then you...

What is Health Insurance? Health insurance is commonly referred to as Mediclaim that covers unforeseen medical expenses. It provides financial aid for the costs of surgery, hospitalization and medical treatment. It is a type of insurance coverage that covers the medical and surgical expenses of an insured person. What is a pre-existing illness? Diseases or health conditions that the insured had before purchasing a health insurance policy are referred to as pre-existing conditions. According to IRDAI, a condition is regarded as pre-existing if the insured person had a diagnosis of it up to 48 months before to enrolling in insurance. All chronic medical disorders including diabetes, asthma, thyroid, high blood pressure etc., are considered pre-existing conditions. Pre-existing diseases in a health insurance plan All health insurance plans come with a pre-existing disease clause. Purchasing medical insurance might be challenging for those having pre-existing conditions. Understa...

 Policy Term: Premium Paying Term: Commission It was previously stated how the changes in the IRDA regulation will affect bonus entitlements, and minimum death benefits with exclusions. Definition once again Endowment insurance plans are made to provide a sizable payout in the event of death along with, if necessary, survival, maturity, and profit sharing. Policy term Policy Term, during which the policyholder has to pay premiums to keep the contract valid. Under no circumstance can the Premium Paying Term be greater than the Policy Term. Premium paying term The time span during which the policyholder must continue paying premiums in order to maintain the contract's validity is known as the Premium Paying term. The insurance term is the same duration as the regular premium payment term. Yet, certain insurance contracts may allow the insured to select a premium payment schedule that is shorter than the policy's duration. The Insurance Term may not, under any circumstances, excee...