Taxpayers should still claim the TDS credit in their ITR even if it is missing from Form 26AS or AIS, say experts. The Income Tax Act protects deductees where tax has been deducted but not deposited by the deductor.
Vaibhav Nakhwa
Hello and welcome to my website. I am Vaibhav A Nakhwa, a Development Officer associated with LIC of India for the past 15 years.
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Will filing your ITR early get you a faster income tax refund? Here's what really determines the processing time
ET NOW 14/07/2026
Filing income tax returns early increases processing likelihood but does not guarantee faster refunds. Successful e-verification and matching tax records are crucial for timely refund processing. Pre-validating bank accounts and avoiding complex disclosures expedite the refund process.
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Irdai Approves 100% FDI in Insurance; BIMA Sugam by Sept
Financial Planning
2026-03-06
Mumbai, Jun 30 (PTI) Irdai chairman Ajay Seth on Tuesday announced that the sector watchdog has approved two proposals for owning 100 per cent stake in general insurance vehicles since the government opened up the space for 100 per cent foreign direct investment (FDI).
Speaking at an event organised by the Insurance Awareness Committee of the Life Insurance Council here, the career bureaucrat-turned-regulator said that the much-awaited BIMA Sugam platform will be launched by the end of September.
Without giving any details, Seth said one of the FDI proposals was given the nod on Monday.
Apart from these two licences on the general insurance front, where there is a perception of higher market opportunity, there is also interest on the life insurance front, he said, pointing to a recent proposal where a foreign entity has shown keenness to enter India with a substantial stake.
There is also interest among existing foreign promoters to increase stake in their joint ventures started with local partners, he said, adding that one proposal has been approved and there is another pending with the Insurance Regulatory and Development Authority of India (Irdai).
Last year the government had announced that foreign entities will be able to own 100 per cent in insurance companies under the automatic route, as against the 74 per cent cap earlier.
Conceding that the BIMA Sugam project, which entails to launch zero commission policies to cut costs of protection, is behind schedule, Seth explained that the project entails creating a market infrastructure institution where insurance companies have to connect their technology solutions and also making some investments.
Motor, health and term plans will be prioritised for sale on the Bima Sugam platform to start with, he added.
Meanwhile, replying to a question on suitability of products for savers and how to protect them from possible misselling, Seth said the Irdai is likely to come up with a distribution reforms consultation paper in July to address the same.
Irdai has also created a Rs 50 crore fund for awareness, which will be working alongside the industry's efforts to deepen the penetration, he added.
Speaking at an event organised by the Insurance Awareness Committee of the Life Insurance Council here, the career bureaucrat-turned-regulator said that the much-awaited BIMA Sugam platform will be launched by the end of September.
Without giving any details, Seth said one of the FDI proposals was given the nod on Monday.
Apart from these two licences on the general insurance front, where there is a perception of higher market opportunity, there is also interest on the life insurance front, he said, pointing to a recent proposal where a foreign entity has shown keenness to enter India with a substantial stake.
There is also interest among existing foreign promoters to increase stake in their joint ventures started with local partners, he said, adding that one proposal has been approved and there is another pending with the Insurance Regulatory and Development Authority of India (Irdai).
Last year the government had announced that foreign entities will be able to own 100 per cent in insurance companies under the automatic route, as against the 74 per cent cap earlier.
Conceding that the BIMA Sugam project, which entails to launch zero commission policies to cut costs of protection, is behind schedule, Seth explained that the project entails creating a market infrastructure institution where insurance companies have to connect their technology solutions and also making some investments.
Motor, health and term plans will be prioritised for sale on the Bima Sugam platform to start with, he added.
Meanwhile, replying to a question on suitability of products for savers and how to protect them from possible misselling, Seth said the Irdai is likely to come up with a distribution reforms consultation paper in July to address the same.
Irdai has also created a Rs 50 crore fund for awareness, which will be working alongside the industry's efforts to deepen the penetration, he added.
Why You Must Secure Your Retirement Income Before Interest Rates Fall Further
Retirement Planning
2025-06-06
The Reserve Bank of India (RBI) recently reduced the repo rate to 5.5%, a step taken to revive economic growth and enhance credit availability. While this move may support borrowing and business activity, it poses a silent challenge to conservative investors especially retirees and those dependent on fixed-income instruments.
As repo rates trend downward, bank fixed deposit (FD) rates and pension returns are also expected to decline, since they’re closely linked. If you're relying on traditional savings tools like FDs or conventional pension plans for your future income, this shift could erode your financial stability over time.
The Silent Threat of Falling Interest Rates
Most investors view fixed deposits and pension plans as "safe" options. While they may be safe in terms of capital protection, they’re not immune to interest rate fluctuations. A falling interest rate environment leads to:
- Lower returns on reinvested fixed deposits
- Reduced pension income from rate-linked plans
- Erosion of purchasing power due to inflation
In such a scenario, it’s critical to diversify your retirement corpus and ensure that at least part of your income is protected from future interest rate cuts.
Jeevan Akshay and Jeevan Shanti: Your Shield Against Falling Returns
LIC of India offers two powerful annuity plans "Jeevan Akshay and Jeevan Shanti" that act as lifelong financial shields in uncertain times.
Key Benefits:
Guaranteed Lifetime Income: Once locked in, your income remains stable, irrespective of market or interest rate changes.
Interest Rate Immunity: Your returns are fixed at the time of purchase and are unaffected by falling repo or FD rates.
Trusted Backing: These plans are issued by LIC, India’s most trusted life insurer, with sovereign backing and long-term credibility.
Flexibility: Options for single life, joint life, deferred annuity, and more based on your retirement goals.
Why Act Now?
With further repo rate cuts likely in the near future, delaying your investment could mean locking into lower annuity rates. Acting now allows you to lock in higher lifelong income while current rates are still relatively favorable.
Ready to Take Control of Your Financial Future?
If you're looking for stability in uncertain times, LIC’s Jeevan Akshay and Jeevan Shanti plans offer a reliable, tax-efficient, and stress-free solution for retirement planning.
Feel free to reach out to learn more about how these plans can fit into your financial strategy.
Every Woman Deserves Financial Freedom
Financial Planning
2025-03-08
In every growing society, women are back bone of it and we are proud to say that we play a small part in strengthening the back bone by helping women become financially empowered.
First step of financial empowerment begins when we guide parents to make an investment in their daughter`s name so that she has a corpus to rely upon in case of any misfortune happening or despite it. Every girl today should have some wealth in her name as she reaches adulthood.
Second step we take is to help young women understand why it is important to invest money and save for themselves. With growing economy, more and more private sector jobs are opening up which on one hand is good but it also means no retirement pension from government.
So it`s imperative that every girl has a retirement plan for herself.
Third step is to guide every young man to make their wife nominee in all the investment they make and most importantly involve his wife in all the decisions. Wife should always be aware of any investment made so that in case any of any misfortune, she can handles it on her own and doesn`t have to rely on anyone.
With these three steps we make sure that all the women who come in contact with our firm directly or indirectly have a legacy in her name.
We invite you to be a part of our mission and help us by educating women and making them self-dependent on anything financial. A financially self-dependent woman creates a strong family and society.
Happy Women`s Day!
Major Highlights of Budget 2025
Budget
2025-02-01
Budget 2025: Key Highlights
Focus: Economic resilience, inclusive growth (poor, youth, farmers, women), MSMEs, startups.
Taxation: No tax up to ₹12 lakh (new regime), relief for higher incomes, simplified slabs/TDS/TCS, higher LRS threshold (₹10 lakh), increased rent TDS threshold (₹6 lakh), no TCS on education loans (up to ₹10 lakh). New tax bill.
Fiscal: FY25 deficit 4.8% GDP, FY26 target 4.4%. ₹28.37 lakh crore tax receipts (FY26 est.), ₹14.82 lakh crore borrowing. ₹10.18 lakh crore capex (FY25 rev.), ₹1.5 lakh crore interest-free loans to states.
Agriculture: Program for low-productivity districts, high-yielding seeds mission, creating sustainable fisheries. Infra: Broadband for schools/healthcare, expanded Udaan, ₹25,000 crore maritime fund, airport/canal projects.
Industry: National Manufacturing Mission, new urea plant, solar/battery ecosystem, footwear/toy schemes, India Post logistics.
Education/Skills: 5 skilling centers, IIT boost, AI centers (₹500 crore), 50,000 tinkering labs.