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House rent allowance or HRA, is paid by employers to employees for the accommodation every year. Under Section 10 (13A) of the Income-tax Act, 1961 employees can get tax exemption on house rent allowance. The employees can get tax exemptions on the house rent allowance only if they are salaried professionals, and their salary structure includes HRA. Also, they must not own the house and live in a rented house to get the tax exemption. These are the following factors on which HRA is calculated: i) Actual HRA received ii) 50% of salary if living in metro cities, or 40% for non-metro cities iii) Excess of rent paid annually over 10% of annual salary Some exceptional scenarios where you can get HRA exemptions under HRA exemption rule: 1. Paying rent to the parents 2. Paying rent in another city 3. Individuals who are not getting HRA You may not receive any exclusions on your HRA in the following circumstances. 1. If your spouse/ minor child/member of Hindu Undi

The Ayushman Bharat Yojana has been implemented from 25th September 2018. It is a national healthcare program that aims to protect 10 crore families and almost 50 crore individuals by providing a cover of Rs. 5 lakh per year per family for the hospitalization expenses along with other medical services. The people to be benefited have been marked on the basis of the Socio-Economic Caste Census. The two main objectives of this Modicare scheme are: To create a health infrastructure that can provide comprehensive primary health care services.  To provide health insurance to 40$ of the country’s population, which is deprived of secondary and tertiary services.  Following are some key benefits of the Ayushman Bharat Scheme :  The scheme covers all kinds of diseases, along with pre and post-hospitalization expenses.  There is no bar in the scheme on the basis of gender, age, or family size.  The state government will be forming a State Health Agency to implement the scheme

An income tax return is a document in which you file with the Internal Revenue Service or Income Tax department reporting your income, profits and losses of your business and other deductions as well as details tax liability. An income tax refund is a process of refunding tax when an assessee declares details of income, deductions, exemptions, taxes payable on their taxable income and the IT department calculates that the payer in excess has paid the tax. Filing an income tax return is mandatory to claim tax deductions, eligible exemptions like long-term capital gains exemptions, which might eventually bring your taxable income to zero. Individuals whose annual income is more than the basic exemption limit, i.e. Rs 2.5 lakh need to mandatorily file their income tax returns. Even when there is no tax liability, an income tax return (ITR) must be filed if the total income exceeds the threshold as mentioned above. In case you disagree with the tax demand raised in the notice f

Credit cards are a great tool to provide financial freedom to every woman, be it a working woman or a retired woman. However, what comes with freedom is a sense of responsibility; it is thus critical to make a prudent choice while selecting the right financial product. Compare credit card Here are different types of credit cards available exclusively for women: Kotak Royale Signature Credit Card-  No annual fees Points on travel, dining or international spending 30,000 reward points on yearly retail spend of Rs. 8 lakhs. For Single women The American Express Gold Card  Bonus membership award on joining Zero liability 20% off on dining at select partner restaurants. Working women No pre-set spending limit YES First Preferred 10,000 bonus points on card renewal 15,000 points on spending within the first 90 days of getting this card No annual fees Low-interest rates 25% discount on movie tickets booked on BookMyShow IndusInd Bank Platinum

Fixed deposits and recurring deposits are two popular investment schemes available for investing funds for the long term. The investments are not subject to any market risks and can earn a fixed rate of interest for a fixed tenure. While the two investment schemes have a lot of striking differences. Here are some differences between the two which will help you to decide which scheme is better : Mode of investment: The major difference between the two is that in fixed deposits you have to make a lump sum payment that you want to invest in a fixed deposit account. However, in the case of RD you have the option to make fixed payments at regular intervals. Returns: The returns earned on fixed deposits are higher than the recurring deposits because the amount of the fixed deposit is invested together at the beginning of the investment period so the interest will be calculated on the same principal amount for the same tenure. However in recurring deposits, as yo