I am working in Middle East since April-2007. My current salary is INR.12 Lakhs per annum and is totally non taxable.
Apart from above income, I have made a short term capital gain of about INR 2.5 Lakhs by trading in Indian stock markets in this fiscal year so far.
My annual savings includes the following.
1. Public provident Fund1.00 Lakh
2. LIC premium0.60 Lakh
3. LIC Pension scheme premium0.10 Lakh
4. Tax saver ULIP 0.78 Lakh
My queries are:
1.What is my present tax liability?
2.If there is any liability, how and where do I remit the tax?
3.Which form is to be used for filling the return?
Instead of having a Medi-claim policy by paying heavy premium to Insurance Company, can there be direct dealing by each Hospital? Will it not be profitable to the Hospital as well as Citizen? Is such scheme tried in the past anywhere with what results? Only disadvantage to citizen can be, he has to confine to one particular Hospital.
How to recover the amount of premium paid?
LIC offers 25 lakhs term policy with higher premium; a private insurer offers 15 lakh + 10 lakh accident benefit = 25 lakh term policy with less premium. Which one is better? What is the catch in it? Which term policy for Rs. 25 lakh is good. Shall I go for private insurers? I am confused.
Term of policy is 18 years.Please answer the amount of charges in rupees.Please answer
How NAV of ULIP is calculated (daily bassis or Monthly bassis). I need to pay my renewal premium.
Will it make sense to pay the due on the date when sensex is down, or that is not matter.
Thanks in advance