Keep reading to know more!

1. HDFC Ergo Health’s Optima Restore: 

HDFC Ergo Health’s Optima Restore plan is popular among India’s top 5 health insurance companies in india. Individual and parents’ health insurance is available for individuals up to 65 years of age. The policy has a triumvirate of advantages with a continuation of coverage, which is really unparalleled. The coverage offers sum insured amounts between Rs. 3,000,000 and Rs. 50,000,000. It protects you against a wide variety of medical costs.

2. Aditya Birla health insurance for Families: 

The parent’s health insurance between the ages of 65 is available via the Family Health insurance policy offered by Aditya Birla, a perfect health insurance plan. 

You may tailor the insurance to your needs and budget by selecting an amount protected anywhere from Rs. 3 lakh to Rs. 25 lakh only with one of the top 5 health insurance companies in India. Coverage under the insurance extends to a wide range of medical costs, including inpatient hospitalization, outpatient hospitalization, home health care, emergency room visits, and potentially air ambulance transportation.

3. The Bharti AXA Smart Health Plan: –

Coming with the next of the top 5 health insurance companies in India, with your parent’s health insurance featuring a Smart Health plan, you never have to worry about finances in the face of unexpected medical bills. Depending on your needs, you and your parents may be insured for 1 or 2 years, between Rs. 2 lakh and Rs. 5 lakh. 

This same policy provides numerous advantages, such as reimbursement for an ambulance in the event of an emergency, reimbursement for the cost of an organ donation, reimbursement for the price of a caregiver’s travel to and from the hospital, reimbursement for in-home hospitalization, reimbursement for a health screening, and so forth.

4. Coverage under the Bajaj Allianz Family Floater Health Guard Plan: 

Bajaj Allianz is one of the top 5 health insurance companies in India, you can purchase your parent’s insurance from. The Hospitalization costs associated with accidents or severe illnesses are covered under the Parent Floater Health Guard plan, which is an indemnity-based, comprehensive health care coverage for persons aged three months to 65 years. 

The policy’s range of available sum insured amounts from Rs. 1.5 lakh to Rs. 50 lakh allows it to meet the needs of a wide range of consumers. The insurance may cover you, your spouse, and four of your dependent children. Your parents or parents-in-law may each have their coverage that you can buy.

5. Family Floater Coverage from ACKO health insurance:

Acko Insurance Family Floater policy is a comprehensive parents’ health insurance coverage that covers parents up to 70 years old at reasonable rates. It is on the list of India’s top 5 health insurance companies. The range offers three distinct flavours, Silver, Gold, and Diamond, with varying amounts of insured choices between Rs. 10 to Rs. 20 lakhs. 

This policy offers extensive coverage, including costs incurred before hospitalization (up to 30 days) and after discharge (up to 60 days), costs associated with organ donation, costs associated with daycare procedures, costs related to home care, and the cost of a second doctor’s diagnosis for one of 11 predetermined significant illnesses. Get yours today!

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Everyone nowadays has a mobile, laptop and other small gadgets. Most people do not realise the number of devices they carry around every day and how expensive those are. Any loss/damage to these devices can be financially stressful, and hence it is essential to protect your most valuable gadgets such as laptops, mobile phones, cameras, etc.

Instead of opting for a separate laptop insurance policy or a mobile insurance policy, etc., you can now cover all your expensive devices under one phone protection cover with a Gadget Insurance plan. It’s a one-stop solution for all your gadgets.

A few quick do’s and don’ts before you avail of the new plan for your devices:

1. Keep your gadgets away from direct heat, moisture, rain, electromagnetic radiations and excessive cold.
2. Get your devices serviced periodically
3. Always turn off your devices when not in use. It protects your device from over-heat
4. Always install an anti-virus software
5. Manage privacy settings on social sites to restrict access
6. Avoid using predictable and straightforward passwords
7. Avoid letting the charge fall below 20% or rise above 80%
8. Do not use your laptops as folders to keep papers and other kinds of stuff
9. Always keep your phone’s cover on

An insurance plan for gadgets protect against physical or electronic accidents and is essential for the safety of your expensive devices. Manufacturers usually provide a one-year warranty which is mainly limited to manufacturing defects. So, if your gadget is lost or stolen, you may have to pay from your pocket or buy a new device altogether. For this reason, majorly, people prefer to buy an insurance plan that covers their expensive gadgets and ensure safety.

 While you cannot physically safeguard your gadgets, you can secure your prized possessions financially with a comprehensive insurance plan available.

What should you look for before availing of the insurance for your gadgets?

1. Coverage value 
2. Reimbursement policies
3. Claim policy
4. List of gadgets being covered
5. Duration of the policy
6. Features and benefits – customer care support, ease of application, easy claims, etc

Small Gadgets Insurance cover by Bajaj Finserv is a curated insurance plan that safeguards you financially against accidental damage or breakdowns of your gadgets. The policy covers various small gadgets like a vacuum cleaner, Bluetooth speakers, humidifiers, telephones, digital clocks, smart speakers, power banks, lighters and more. A significant reason to avail of this insurance cover for your gadgets is its hassle-free process and quick claims, thus saving you time.

The plan offers coverage up to Rs. 10,000 at just Rs. 399. You can avail of this policy online and pay via your preferred payment mode.

What is in for you here?

1. You get coverage against perils such as fire, explosions, floods, lightning, earthquakes, cyclones, etc.
2. You get coverage for damages due to riots or strikes.
3. You can claim repair and replacement costs for unexpected mechanical breakdowns of your gadgets. However, your devices should be in your possession at the time of claim.
4. Coverage for accidental damages. However, your gadget must be in your custody while availing of the claim.

However, the policy does not cover:

1. Gadgets that are older than 30 days. You must apply for the policy within 30 days of purchasing the new gadget. The original invoice would be required at the time of policy purchase.
2. A deductible amounting to the first 5% of the claim amount is applicable on every claim unless specifically revised and altered by the insurer and mentioned in the certificate of laptop insurance. The deductible will be a minimum of Rs. 1000 for a sum insured of up to Rs. 20,000 and Rs. 2000 for a sum insured of Rs. 20,000 to Rs. 50,000
3. Loss, damage or destruction of your gadgets due to terrorists’ activities is not covered.
4. The plan excludes loss or damage due to pollution and contamination.

How can you apply?

You must fill in your basic details (Name, Date of birth, etc.) in the online application form. Enter the one-time password you receive on your registered mobile number and pay the premium via debit/credit card, UPI, mobile wallet, or any other available payment mode.

How to file a claim?

To raise a claim, you can contact the customer experience team within 24 hours of damage or loss via the available toll-free number, email or the customer service website. You would require an original invoice or bill copy of your purchased gadget, duly filled claim form and FIR copy in case of theft.

The post Can you insure all your devices under one insurance policy? appeared first on Trending News Paper.

A working capital management involves monitoring cash flows to ensure the business meets its costs of operating, as well as fulfils its obligations to debt in the short term. 

Working capital could be temporary or permanent, depending on the nature of assets used. Permanent working capital is inclusive of the current assets that are central to the venture and its operations. Because these assets are fixed in nature, this working capital is also referred to as fixed, is stable and provides funds for daily operations. In sharp contrast temporary working capital is meant to meet seasonal requirements of the business, is variable in nature, and is prone to fluctuations. 

Sources of Working Capital – Temporary and Permanent

Common sources of working capital under the temporary category include – 

• Indigenous bankers, or private money lenders, might be a source of finance to your business using a loan.
• Trade Credit, is the credit given to businesses by the supplier of goods. If your business has a high credit score and confidence in your supplier, this is a viable option to secure short term finances for your business.
• Commercial banks provide loans, arrange cash credit, instalment credit, advances, account receivable credit and allow you to purchase and discount bills of exchange. 
• Advance payments are welcomed by some businesses from their middlemen and customers. This can be a short term source of working capital and is convenient in minimizing investment.
• Factoring/Account Receivable credit services may cause an increase in liquidity after availing of factoring services. These ensure that your payments from customers arrive on time through discounting customers’ invoices or bills. It also decreases risks involved with credit and enables the seller to focus more on the business.
• Accrued expenses are incurred expenses that have not yet been paid off, also serve as a liability to the business. These provide the business with some capital in the short run.
• Commercial Paper in form of unsecured promissory notes that are issued by banks and financial institutions to businesses and are the cheapest method of securing short term working capital.

Permanent working capital can be obtained from – 

Shares – The units of the capital of a company that are divided and have a fixed value are called shares. The sale of these shares to shareholders are a source of fund for the company. Shareholders buy or invest in shares to get dividends as a return on their investment.

Debentures – A document that is prepared by a company as proof of debt owed by a business is known as a debenture. This debt is without charging the assets of the company. This document is given to the loan creditors of the business, who are called debenture holders.

Public Deposits – Public deposits consist of funds collected from the general public in the company’s bank account.

Profits being ploughed back – Also known as retained earnings, this technique involves using some portion of the profit to reinvest in the business. It need not incur any cost to raise finance for the business using this method.

Working capital management is all about keeping track of the amount of money that comes in and goes out of the business on a daily basis. Entrepreneurs who are able to ensure smooth functioning of the organization and meet financial obligations are the ones who will have comprehended and realized how important it is to manage working capital. 

They can further use this knowledge to predict the financial flow of their venture going ahead. Sources of working capital, both temporary and permanent, add to the financial health of the organization.

A judicious entrepreneur strives to strike a balance between the two so that neither exceeds the prescribed limit.  

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Steps to calculate an income tax online

The steps to calculate income tax are using an online calculator are given below – 

Step 1: Visit the official portal of income tax of India

Step 2: Select the desired assessment year

Step 3: Then, enter the type of taxpayer

Step 4: If a candidate has additional sources of income, click on ‘show details’ and fill up the required details

Step 5: Enter the ‘Profits and Gains of Business or Professions’, if applicable

Step 6: If an individual has agricultural income, they need to enter it in their required field

Step 7: Enter applicable deductions, including ‘life insurance premium paid’, ‘repayment of housing loan’ and others

Step 8: Finally, individuals have to enter their ‘Net Taxable Income’ to calculate income tax

Benefits of using an income tax calculator

The benefits of using for an online tax calculator are – 

1. It provides accurate details on income tax liability for taxpayers and helps them to pay the right tax amount. 
2. This calculator is fast and helps to save time considerably.
3. Calculating income tax manually might be challenging for most individuals. So, using an income tax calculator assists in an error-free calculation and provides the correct financial details. 
4. Finally, this calculator is free to use, and taxpayers can use it multiple times without paying any fees. 

It is important to note that beneficiaries who opted for a home loan have to pay lower income tax than those without an active loan. This is because a home loan fetches certain tax exemptions, which significantly lowers the tax liability. 

Tax benefits on a home loan 

The details about tax benefits of a home loan are provided in more information below – 

Benefit 1: Under Section 80 C

Under this section, an individual can claim a maximum home loan tax benefit of Rs.1.5 lakh on principal repayment every year. Moreover, it is essential to note that this is available on the construction and purchase of any residential property. Section 80C also offers tax exemptions on stamp duty and registration charges. 

Benefit 2: Under Section 80 EE

Section 80EE provides additional tax exemptions of Rs.50000. But, this is only applicable for residential properties below Rs.50 lakhs valuation. Also, the loan amount must not exceed Rs.35 lakhs.

Benefit 3: Under Section 24 B 

Individuals can claim a maximum tax exemption of Rs.2 lakh under this scheme. However, under section 24B, the tax exemption can only be claimed under interest payment of a home loan. 

Besides these tax benefits, leading financial institutions offer lenient home loan eligibility. This allows prospective borrowers to meet the prerequisites quickly to avail of a loan. However, one should remember that these eligibility criteria differ with every lender, and before settling for one, he/she must check these parameters thoroughly.  

Additionally, before availing of a home loan, most lenders advise using a home loan calculator to get a better financial understanding. A home loan EMI calculator provides a comprehensive idea about the financial liabilities of a prospective borrower.

Benefits of using EMI calculator 

A few benefits of using the home loan EMI calculator are – 

1. A home loan EMI calculator provides borrowers insight into the EMI beforehand, which helps in proper financial understanding before availing of a home loan. This assists in easy financial planning for them. 
2. The calculator provides an amortisation schedule that offers a detailed breakup on how payment proceeds throughout the tenor.
3. This calculator is a free tool to use and provides accurate details for prospective borrowers.     

In India, selected HFCs also offer pre-approved offers that simplify and expedite the loan application process. Such offers are available on a range of financial products like loans against property, home loans, etc. Borrowers can enter their name and contact number to check their pre-approved loan offer. 

Thus, individuals can use an online tax calculator for accurate results to calculate tax liabilities for the current financial year. Also, they can check the steps to get proper knowledge on how to use it. 

The post How to calculate your income tax for FY 2022-2023 appeared first on Trending News Paper.

However, before applying for such a credit option, individuals need to know how to avail the funds to ensure a hassle-free loan approval.

Stepwise Process of Getting Rs. 5 lakh loan

Simple unsecured loans like these are a convenient method of availing these short-term loans of lower amounts. Moreover, it allows borrowers to meet emergency monetary needs such as paying credit card bills, sudden home renovation costs, business expenses, domestic travel, and the like. The popularity of these loans is its exclusive features of no collateral and flexibility of fund usage.

Besides, the procedure of availing Rs. 5 lakh loan or more is convenient with various online loan applications. Borrowers will not have to visit the branches and wait for days to sanction the loan amount. Verification is done online without undergoing heaps of documentation. However, individuals need to meet the lender-specific eligibility parameters to obtain the desired amount, whether small or substantial.

Step 1- Meet eligibility requirements

It becomes crucial for borrowers when planning to apply for a personal loan of any small or considerable amount to meet the lender-specific eligibility criteria. Making eligibility parameters a mandate ensures lenders do not risk default or delayed payment. Here are some of the standard qualifying parameters that borrowers must meet:

• Borrower’s age should be within 21-67 years
• Must be employed in a reputed MNC, public or private institution with a stable income
• CIBIL score should be 750 and above
• Must be an Indian resident

Step 2- Submit necessary documents

Apart from meeting the eligibility parameters, individuals need to submit the following documents to avoid an uninterrupted personal loan application:

• KYC documents
• Salary slips of last 2 months
• Employee ID card
• Bank account statement of last 3 months

Step 3- Application process

Here is the stepwise procedure of applying for the best personal loan that suits your financial requirements:

Step 1- At first, visit your chosen financial lender’s website and seek the online application form

Step 2- After getting the application form, fill in a few details and verify with the OTP sent to your registered mobile number

Step 3- Input your KYC and income details

Step 4- Pick the loan amount you wish to borrow

Step 5- Submit the loan application form

After completing this process, one of the representatives will call you to discuss the loan proceedings. After this, funds will be disbursed into your account.

Therefore, by following the procedure mentioned above, one can get instant finance for all kinds of crises.

Features of instant personal loans

Here are some of the exclusive features of a personal loan that makes it an ideal financing option for intending borrowers and allowing to find the right personal loan for them:

• Attractive interest rates

Even during financial emergencies, borrowers can avoid paying considerable interest amounts with personal loans. This is because lenders offer affordable interest rates to eligible borrowers with a good CIBIL score and repayment history. Nonetheless, one must compare the interest rates of different financial institutions before applying for credit to ensure flexible repayment.

• Plausible repayment options

One of the unique features of a personal loan is its repayment flexibility. Borrowers can pick the tenor as per their financial standing and affordability. For more convenience, one can refer to the interest rate calculator available online to determine exact EMIs beforehand and manage their finances efficiently.

• No additional borrowing cost

Borrowers often make grave mistakes by not considering the associated loan charges when borrowing the credit. It increases the borrowing cost and creates a repayment burden on the borrower. However, reputed financial institutions like Bajaj Finserv do not levy additional charges on instant personal loans and keep the credit affordable for borrowers.

Moreover, these NBFCs also provide pre-approved offers on a comprehensive suite of secured and unsecured financial products and make the loaning procedure simplified and hassle-free. Therefore, interested applicants can check their pre-approved offers by mentioning their names and contact details.

To conclude, whether you avail Rs. 5 lakh loan or more, you must ensure repayment of the EMIs and compliance with the credit’s terms and conditions. Any delayed or missed payments can significantly impact your credit score.

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The following changes can be made to the online GST registration:

• The name of the business. (any changes that are made in one state will be reflected al over the country in all states)
• The address of the company.
• The mobile number along with the email address. (the process will be carried out once the official signatory fills out the FORM-GST REG-14 and confirming all the entered details via the online portal)
• Also, changes in terms of addition, removal, withdrawal associated with the partners, CEO, the managing committee of the business can be altered.
• Expansion of the business that might require additional addresses to be entered can be changed.

Hence, through online GST registration from the FORM-GST-REG applications, can you make any changes, and it would take some amount of time before any changes are made with supporting documents for a few of the changes.

A GST consultant might provide essential information o changing any credentials on your GST applications. The steps involved in revising your GST application are as follows:

• Head onto the GST online portal where you would initially go for entering any trade made by the business.
• Once you have entered all the correct credentials, then head onto the “amendment of registration core fields,” after which hit the registration button form the home screen.
• Click on the edit button and make the changes in the specific fields. Also, keep in mind that you will have to enter the date of the change when it’s being made to have a detailed record, and once you feel that everything that you wish to change has been changed, then click on the Save button.
• Once you have changed the data, then you will have to provide a suitable reason for the change.
• Click on the continue button, and a blue tick will appear and showcase the business subtitles where you can change further information that you wish to change.
• Once you feel that all the data that has been entered is correct and accurate to your knowledge, then click on the submit button to finalize the change.

The process is quite simple. It’s better that you keep track of the changes that are being made. Also, ensure that you provide a valid reason for the change and take the help of a GST consultant if any more steps are involved after you have made any changes to the GST portal to avoid any penalties and problems in the future. 

The post What Is The Process For Revising GST Registration Details Of A Business? appeared first on Trending News Paper.

Here are some benefits of home improvement loans.

Competitive Interest Rate as compared to other options

When procuring a loan for any purpose, one of the key elements to look out for is the interest rate implied on it. This where the home renovation loan wins when compared to availing a personal loan for the latter is typically quite high, given the fact that it is an unsecured loan. Therefore, it is a no-brainer that home improvement loans are cheaper as compared to personal loans. This would result in significant savings for a borrower..

Tax Benefits

Tax benefits are perks that everyone wants to have as who opposes to some extra savings. When applying for a home improvement loan, you are entitled to deductions of up to Rs. 30,000 per annum, as mentioned under Section 24, on the interest you are going to pay against the loan. This deduction applies to the interest payments on the home purchase and home improvement loans put together qualify of up to Rs. 2 lakh. The tax benefits involved in this lowers the overall cost of borrowing, which is a win-win situation for the borrower.

Lower EMIs

When we buy a home, we are already making an expensive investment in our future, and it takes away a large chunk of our monthly salary. If we add to this the renovation cost, this becomes unbalanced equity for a salaried person. The home renovation loan becomes a boon to the borrower as the EMIs included with them are quite low for a more extended period; which would mean a lot more savings. Thus if you are a salaried person, secured home improvement loans are always the best option to maintain the cost incurred monthly.

Minimal Documentation Involved

One of the most tedious processes involved in procuring any loan is the document required to validate your loan request. Home improvement loans entail relatively fewer documents when compared to other loan approval processes. If you have already taken a home loan from a lender, and then you approach them for a home improvement loan; this would require less paperwork. Most of the times, the lender would directly initiate a loan disbursal against your request, but there might be some instances where a physical check of the property conducted.

Flexibility of Usage

Home renovation loans are your answer to any of the improvements you want to make in the house. Once you have acquired the funds, you can remodel or revamp your house. The renovation can be anything from making a balcony or extending a room or be it improving the wardrobes, or it may be anything you wish to add on to this list. This kind of loan gives you the flexibility to enhance any work that pertains to the structure of your home.

Home renovation loans enable a home owner to invest substantially in renovating her home. Renovating our home instils great confidence and helps maintain a peaceful space of mind. A home renovation loan can help you to inch closer to having that perfect home of your own by offering a substantial amount to spend on customising. (Suggest Lenders for Home Improvement Loans) Those who are looking to avail of a home improvement loan can consider Muthoot Fincorp as it offers comprehensive home improvements loans at attractive interest rates

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