Bajaj Allianz Life Insurance has announced the launch of a unit-linked plan that offers a minimum guarantee of 170% at maturity. This Ulip with guaranteed returns will be available for customers from January 11. This is a single-premium life insurance policy, known as Shield Plus, and the term is fixed at 10 years and the minimum premium requirement is Rs 25,000. The returns, which work to around 5.45% on this product, could be compared to that of a bank or a post office deposit. But since the product has an equity exposure, there is a strong possibility of outperformance over the long term, say experts. The sum assured could be equal to 1.1 times or five times of the single premium paid, which takes care of the protection element of the Ulip. However, the insurer has capped the maximum sum assured at 1.1 times the single premium for individuals in the age group of 56-65 years. The product offers a choice of six funds but only Shield Plus Fund offers minimum guaranteed unit price at maturity.
The TDS rate doubles to 20% from 10% if you fail to mention your Personal Account Number IF you run a glance through your pay slip, you will come across something called TDS, which is tax deduction at source. In most cases, the employer deducts this amount at the time of payment of salary itself and pays the total tax amount to the government on behalf of all the employees. If you are a self- employed or practicing professional s, you have to pay this amount yourself. Tax deducted at source is one of the modes of income tax collection by the government. Under the income-tax laws, income tax at specified rates is required to be deducted while making certain payments. The rate of deduction of tax at source on interest and rent payment is 10%. For salary payments, the employers deduct income tax at source on a monthly basis after computing income tax liability on estimated annual taxable income of the employee. Tax benefits on housing loan, investments, etc are consid...
