You are here: Home >> English News & Features >> BUSINESS & ECONOMY

Pension plans by life insurance cos are taxable

DNMUM394288 | 8/11/2017 | Author : Harsh Roongta | WC :821

personal finance

Brijesh called me with a query on a pension plan. Many years back he had (mis)sold a pension plan with an annual premium of Rs 5 lakh which he had faithfully paid for five years but had since stopped paying. The fund value was around Rs 32 lakh and he wanted to redeem the money. The insurance company had told him that the entire surrender value of Rs 32 lakh would be treated as his income and he would have to pay tax on the full amount.
Brijesh was annoyed about the entire affair. He had assumed that the proceeds were tax free simply because he was dealing with a life insurance company and in his understanding all policies issued by insurance companies were tax free. It was only now that he realised that “pension policies” i
Read full story



Copyright restricted. Under license from www.dnasyndication.com   
Add To Lightbox
Calculate Price

More on BUSINESS & ECONOMY

Yields may hit 6.55%; buying may pick up
DNMUM394938 | 8/21/2017 12:00:00 AM | Author : N S Venkatesh | WC :274

A short week, by courtesy of two public holidays, was characterised by some unfortunate terror atrocities in both Spain and Finland in the international arena while local market participants got to analyse two key pieces of news: the much-await
Add To LightboxCalculate Price

A jackpot in one-stop shop
DNMUM394939 | 8/21/2017 12:00:00 AM | Author : Priyanka Golikeri | WC :546

Leaving no stone unturned in servicing customers, a string of multi-service start-ups are attempting to carve a space for themselves in an environment that rides high on volatility and shutdowns. Offering every service, from event organisation,
Add To LightboxCalculate Price

Home buyers yet to reap benefits of GST
DNMUM394945 | 8/21/2017 12:00:00 AM | Author : Ateeq Shaikh | WC :598

Mumbai: The goods and services tax (GST) was expected to bring down real estate prices, but it hasn’t happened into almost two months of the new taxation regime.Developers do not see prices coming down under GST due to a plethora of reaso
Add To LightboxCalculate Price

Bull-run helps many stocks regain pre-split value
DNMUM394946 | 8/21/2017 12:00:00 AM | Author : Kumar Shankar Roy | WC :637

Kolkata: Companies that went for stock split last year are reaping rich gains in the current bull-run.One out of every seven stocks that went for stock-split since January 2016 has recouped at least 50% of its original value in the rally that began i
Add To LightboxCalculate Price