Union Budget 2024-25 proposes to slash the rate at which tax will be deducted at source on life insurance policy pay-outs, to policyholders, and insurance commission payable, to agents, from 5% to 2%. The proposal to reduce TDS on life insurance policy cover, including on the sum by way of bonus, by amending Section 194DA of the Income tax Act …
Health is wealth, goes the saying. Traditionally, a ₹5 lakh medical insurance policy has been the most common type of cover taken out by Indians working in the organized sector. Mint looked at available claims data to see whether a ₹5 lakh policy is adequate or whether you need to buy a higher medical insurance cover. View Full Image Graphic: …
