Taxpayers can claim a refund when their income tax (I-T) liability is less than the tax they have paid in a financial year. Refund can be claimed only by the person to whom it is due. Should the taxpayer die or be incapacitated, a legal representative can apply for the same. In such cases, his/her guardian or legal heir is also entitled to claim and receive the refund.

What is a tax refund?

Business Standard

Value deals are available at Rs 2-10 lakh, giving investors an opportunity to make some good buys.

Art as alternative investment 

Jeevan Arogya is the first defined health insurance product to be introduced by India&rsquo;s largest life insurance company, LIC of India. It will pay the customer a fixed daily cash amount as well as cover specific surgeries.

Not a standalone policy 

Banks need to be convinced about regular income for such loans.

Close to retirement? Getting a loan won't be easy

Joseph Martin and his brother-in-law jointly bought a property in Mumbai in the early 80&rsquo;s. After Martin&rsquo;s death, his share was passed on to his daughters. Bought at Rs 3.5 lakh back then, the property&rsquo;s value has appreciated over the years. Today, it can easily fetch over a crore. While the sisters want to unlock the value of their share by selling the property, their uncle, the other owner, still occupies the flat and is unwilling to exit the property.

How to exit joint property

My son is going to the US in September to pursue an MBA course. His expenses will amount to Rs 35 lakh over the two-year period. However, banks are willing to lend a maximum of Rs 20 lakh only. Can I apply for two separate loans? I can afford to pay the higher equated monthly instalments (EMIs).

Banking: Uday Sareen

Insurance agents often push a prospective customer into signing the proposal form, saying they will take care of everything else. To get the policy issued without any hassle, some of them make incorrect statements in the proposal, without the knowledge of the insured. Later, when a claim is filed, it is rejected on the ground of false declarations or suppression of material facts. It is possible to challenge such a repudiation.

Wrong info doesn't mean suppression of facts 

Over a five-year period, both have given similar returns.

Mid-cap, large-cap muddle

Book in advance and route smartly to cut expenses.

How to make customised travelling cheaper

I am 25, single and working in Dubai. I intend to return to India after five years, and buy a house on loan. My current salary is Rs 60,000, and expenses total Rs 25,000. I invest Rs 15,000 a month in mutual funds for my retirement corpus, and another Rs 5,000 in the Public Provident Fund (PPF). I am left with a surplus of Rs 15,000, which I plan to invest in high-yield products for five years to part-fund my house.

Financial planning: Gaurav Mashruwala

Retail investors should park only a small portion of money in arbitrage funds.

Using market volatility to your advantage

One of my neighbours is a retired bureaucrat, who lives his life well &mdash; thanks to his habit of saving and investing. The 75-year-old owns the house he lives in and enjoys a somewhat frugal lifestyle by today&rsquo;s standards, but a comfortable one. He earns a monthly pension, as well as some returns on his investments. His worry is not his corpus or his income, but his falling ill. He wants to know how he can fund his medical bill, without falling back on his children.

Retirement planning beyond corpus building

The insurance regulatory body makes it mandatory for investors to buy an annuity with two-thirds of the corpus.

Making the right choice

With reports of both builders and bankers colluding in questionable property deals, the home loan borrower is getting jittery about investing in under-construction properties to buy his dream home.

Interest payouts versus EMIs

A couple of investing methods which have worked .

Doing away with timing

The value of money will continue to be hit by inflation. The only way to counter it is by having investments that give better returns.

Learning to live with inflation

A 75:25 debt-equity investment strategy ensures no loss of principal, plus returns as well.

Protect capital with diverse investments

Check the tax guidelines before you book profits on gold holdings.

More liability on jewels

The Insurance Regulatory &amp; Development Authority&rsquo;s (Irda&rsquo;s) much-awaited health insurance guidelines are expected to include standard treatment norms for diseases, a common list of exclusions and a tightened noose around claim settlement.

Irda likely to set uniform norms for health cover

Recently, I read about life insurers offering universal life plans (ULPs).

life insurance: Kamesh Goyal

Stay away from small companies that are easily manipulated.

How to Identify an operator-driven stock

Personal Finance: Read about the smart strategies for Personal Finance Planning, Investing, Insurance, banking, budgeting, loans Tax Planning, retirement and insurance. Browse Business Standard to learn more on Personal Finance.

Personal Finance: Investing, Planning, Retirement, Loans, & Insurance | Business Standard

Read about the smart strategies for Personal Finance Planning, Investing, Insurance, banking, budgeting, loans Tax Planning, retirement and insurance. Browse Business Standard to learn more on Personal Finance.

Page 858 - Personal Finance