1) Finance Act 2014 has introduced a new provision in the Income Tax Act for tax deduction at source (TDS) on insurance policies. It shall be effective from 1 October 2014.2) If the policy proceeds, whether interim or on maturity, exceed Rs 1 lakh, the amount shall be subject to TDS at the time of payment to the policyholder.3) If the policyholder

It wouldn't be a New Year without resolutions. Whether it’s a prudent tax planning or firming your portfolio, the key isn't making a list, it’s sticking with it. Here are some useful tips that one must follow to make new year tax friendly.Plan your tax savings in timeLeaving tax planning for March may not be a wise idea. It will expose you to