Ten common mistakes that can fetch you a tax notice

THE ECONOMIC TIMES Tue, May 17, 2016 | 09:34 AM IST ET Wealth Newsletter

WHAT'S HOT #HealthInsurance,#TermInsurance

Ten common mistakes that can fetch you a tax notice Some of these mistakes are merely calculation errors that will result in a tax demand. But some others are serious transgressions that can invite fines. Why gilt funds are not a great investment idea right now Gilt funds witnessed heavy inflows in early 2015, as investors were betting heavily on yields to soften with the government cutting rates. ET Wealth-PlanCover.com ratings: Best health plans for single women In this issue, we list the top contenders for single women in the age group of 18-40 years. From our Partners How to meet out-of-pocket expenses with Daily Hospital Cash plans There could be out-of-pocket and incidental expenses during hospitalization which even a Mediclaim policy does not reimburse. A Daily Hospital Cash plan comes handy in tackling such medical costs. From our Partners All about critical illness plans and how to choose one Buying a health insurance plan may not be sufficient. Get a second level of protection through critical illness plan for self and family. Don't financially subsidise your earning adult children Well meaning parents tend to financially subsidise the lifestyle of their earning children, not realising that this behaviour does both parties more harm than good. Best smartwatches available in India today The smartwatch as a wearable device has been evolving over the past few years. ET Wealth lists the best options available in India for smartwatches. Know the new rules of the Sukanya scheme There have been some changes in the scheme, but it continues to be among the best debt options. Save on power bills by switching to solar energy Shifting to solar energy will not only trim your power bills, but you will also be subsidised by the government, which will bear 30% of the cost. From our Partners Should one revive a lapsed term plan or buy a new one? Many people are faced with the dilemma of whether to revive a lapsed term insurance policy or buy a new one. From our Partners Looking to pay life insurance policy renewal premium; Here are your options Insurers provide a variety of ways to pay renewal premiums. Get to know the ones that your insurer offers to be able to renew your policy conveniently.

Financial Calculators Tax Impact Calculator This tax calculator will let you know how your tax liability changes post-Budget 2016. Just input your personal income details and know how much tax would now be payable. Home Loan Refinance Should you refinance your home loan? Use this calculator to find out if it is worthwhile to shift your home loan to another bank? Just enter the data and click next. It's that easy. More Calculators

5 tips to tackle crises on a foreign holiday If you are on a vacation abroad and lose your passport or misplace insurance documents, what should you do? Here's how to deal with five such emergencies. What is a good time to exit your investments? Evaluate the decision to exit mutual fund investments on two parameters, the first is personal portfolio objectives and second, any issues with the mutual fund itself. Focus on cutting debt may make JSPL good long term investment This counter is plagued by multiple problems, only long-term investors should think of getting in. Mortgage borrowers most likely to repay their loans Mortgage loans have the best repayment record, and business, agricultural, commercial and education loans the worst, says a credit trends study. Family Finances: Waman Prabhu must streamline income, expenses for smoother financial journey I want to know if any change is required in my mutual fund investment as well as insurance purchases, Waman Prabhu 41-year-old Taneja can cut tax outgo by tweaking pay structure, investing in NPS ET Wealth advises readers on how to restructure their income, investments and expenses to optimise their tax. It was a good move to bring down small savings rates: A K Sridhar, IndiaFirst Life Insurance "IT firms will not command the same pricing power as before. It's no longer a massive growth story", says A.K. Sridhar CIO, IndiaFirst Life Insurance. Women favour health insurance plans offering preventive check-ups: Survey One-third of those polled identified maternity cover as a must-have feature, while 28% wanted their health policy to cover lifestyle diseases. How to obtain probate of a will A probate is granted by the High Court with the court seal and a copy of the will attached. Are gifts received on marriage taxable? Gifts received by the bride and the groom, on the occasion of their marriage, are exempt from tax. Pune-based startup Amura helps marketers maximise returns via digital marketing (Front row) Vikram Kotnis (left) and Ketan Sabnis; (back) Vinayak Katkar, Kiran Narasareddy & Prateek Rokade

More Newsletters

ET Mutual Fund A weekly round-up of the top news and views

Markets Watch Round up of stock, currency, bond, money and real estate market

Daily Newsletter Special stories that round up the major developments of the day

View All

Follow Us on ET:

About us|Advertise with us|Feedback|Sitemap|Code of Ethics © 2016 Times Internet Limited.

To ensure delivery directly to your inbox, please add etnotifications@indiatimes.com to your address book today. If you are having trouble viewing this newsletter, please click here

To unsubscribe or edit your subscriptions please click here