An Insurers charge a premium at the time of recieving a premium they use it to build up a fund. That received fund then earns interest however the insurer incurs some costs not only on writing the business, selling the policies but also on administering the fund. In addition the fund must be sufficient to pay out claims (deaths). The life insurance companies use mortality … [Read more...]
Ways to Reduce Your Tax Liability By 20%
Ways to Reduce Your Tax Liability By 20% Tax rebate under Section 88 is available to an individual and HUF. The following are the investment schemes which qualify for deductions from tax payable at a flat rate of 20% of the contributions made. The aggregate contribution to all these schemes qualifying for deduction is subject to a ceiling of Rs. 60,000. Contribution or … [Read more...]