DSIJ Mindshare

The Income Tax (IT) department can impose penalty on a taxpayer who resorts to under-reporting or misreporting of income under Section 270A of the IT Act. This section was introduced in the Union budget of 2016.

Insurance companies, of late, have started offering out-patient department (OPD) cover with health insurance policies. TheOPD cover, which comes as an additional feature of the health insurance policy, offers reimbursement of expenses such as ambulance charges, diagnostic tests, prescribed and over-the-counter medicines, preventive health check-ups, etc.

When people want cash on an urgent basis for a short period of time, they usually think of taking a personal loan or a gold loan to tide over the temporary cash crunch. But there is another alternative which is quite popular among business persons, but it has not quite caught the attention of the general public. This is the overdraft facility.

If you are in your early 50s and have not planned for your retirement income yet, it is high time you start your retirement planning seriously. But how does one go about planning for retirement? Here are a few simple steps that will help you to provide adequately post retirement.

Health insurance policies offer tax benefit of Rs 25,000 per year (Rs 50,000 for senior citizens) under Section 80D of the Income Tax Act. To avail this tax benefit, policyholders have to make sure that they do not violate the conditions of tax exemption knowingly or unknowingly.