Shreeniwas P Gadiyar (Abhay to friends) is Commerce and Law graduate of Mumbai University with more than twenty years of corporate working experience. Shreeniwas is Honorary Secretary of Professional Life Underwriters Guild, Mumbai. Shreeniwas is Mutual Fund Advisor and directly empanneled with major Mutual Funds. We offer you totally paperless online service to deal in mutual funds.
Payments made towards health insurance premiums are also eligible for tax deductions under section 80D of the Indian Income Tax Act
At least 988 million Indians - more than the population of Europe and 75% of all Indians - are not covered by any form of life insurance, and an Indian is assured of only 8% of what may be required to protect a family from financial shock following the death of an earning member, according to our analysis of government data and industry data.
Finance minister Arun Jaitley may double the income tax exemption threshold for salaried class from the current Rs 2.5 lakh to Rs 5 lakh and reinstate tax-free status for medical expenses and transport allowance in the interim budget.