LIC launches single-premium Dhan Vridhhi (plan no. 869) with guaranteed return; available till September 30, 2023

The Life Insurance Corporation of India (LIC) has launched a new insurance plan — Dhan Vriddhi on June 23, 2023. It is a non-linked, non-participating, individual, savings, single premium life insurance plan which offers a combination of protection and savings, the insurer mentioned in a press release. LIC Dhan Vriddhi plan provides financial support for…

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EPS higher pension: ‘Unable to submit,’ EPFO members complain on Twitter as deadline nears

Many employees and pensioners who are eligible to apply for higher pension from the Employees’ Pension Scheme (EPS) are complaining on Twitter that they are unable to submit their application forms. This is happening when there are less than four days left to submit the applications for higher pension. The Employees’ Provident Fund Organisation (EPFO)…

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3-in-1 insurance: Soon, you can get life, health insurance and market linked investment in one combo product

The Insurance Regulatory and Development Authority of India (Irdai) has allowed insurance companies to launch individual & group unit-linked life and health insurance products and combi products without seeking prior approval from the regulator. In a circular released on June 20, 2023, the regulator adds additional categories to the existing ‘use and file’ procedure for…

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How consultants, professionals can continue to opt for old tax regime from FY 2023-24: CBDT issues new rules

The Central Board of Direct Taxes (CBDT) has issued a notification specifying the process consultants, professionals – having business income– should follow to continue with the old tax regime from the current financial year, i.e., FY 2023-24. The change in the process has been introduced as from this financial year, the new tax regime has…

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