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Insurance premium for vehicle used for business is tax exempt
Wed, Apr 02 2014. 06 40 PM

Insurance premium for vehicle used for business is tax exempt

No deduction if there isn’t income from business
Health insurance premium for parents is tax deductible
Tue, Apr 01 2014. 08 05 PM

Health insurance premium for parents is tax deductible

You can claim up to Rs.15,000 as additional income deduction
Debentures and bonds are two separate debt instruments
Mon, Mar 31 2014. 07 37 PM

Debentures and bonds are two separate debt instruments

In India, the two are used interchangeably
Have an equity-oriented portfolio for long-term goals
Fri, Mar 28 2014. 06 42 PM

Have an equity-oriented portfolio for long-term goals

Constituents of your portfolio would be determined by number of years you have to reach your goal
Dividend income from foreign MFs taxed at normal slab rates
Thu, Mar 27 2014. 07 18 PM

Dividend income from foreign MFs taxed at normal slab rates

Dividend income received from these MFs would be treated as “income from other sources” in India
Advance tax provisions are not applicable to senior citizens
Wed, Mar 26 2014. 06 21 PM

Advance tax provisions are not applicable to senior citizens

Senior citizens are required to pay tax if taxable income exceeds basic income exemption threshold
Easier to pay regular premiums than a big one-time payment
Tue, Mar 25 2014. 06 10 PM

Easier to pay regular premiums than a big one-time payment

You can also retain option of stopping payment in the future
Ex-wife doesn’t have recourse to property bestowed to minor
Mon, Mar 24 2014. 05 42 PM

Ex-wife doesn’t have recourse to property bestowed to minor

However, she would become the natural guardian
Stay invested during the course of market ups and downs
Fri, Mar 21 2014. 07 07 PM

Stay invested during the course of market ups and downs

Investors would do well to consult with an adviser
Non­-resident ordinary account taxed as per individual’s slab rate
Thu, Mar 20 2014. 08 32 PM

Non­-resident ordinary account taxed as per individual’s slab rate

There are no separate rules for income earned on NRO account balances
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