Hindu Undivided Family .
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Just because a business was run by a
karta of a Hindu Undivided Family in a tenented premise, there is no presumption that it is a joint Hindu family business, held the Supreme Court in a recent judgment. There can be presumption of Hindu joint family property if the property has been acquired by the male member or if the same has been treated as joint Hindu family. But no such presumption is attached to a business activity carried out by an individual in a tenanted premise , observed the Supreme Court in the case
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Updated Mar 17, 2021 | 06:02 IST
The premium paid for health, term and life insurance is tax-deductible under various sections of the Income Tax Act, particularly 80C and 80D. Here s what you should know Paying insurance premiums covers risk and helps save taxes; here s how | Photo Credit: Thinkstock
Building a safety net for healthcare needs has become a central part of investment planning as Covid-19 laid bare the risks associated with neglecting the same. Insurance is one avenue of tax planning which serves the dual benefit of reducing tax burden while giving investors the much-needed cover against contingencies.
The premium paid for health, term and life insurance is tax-deductible under various sections of the Income Tax Act, particularly 80C and 80D. When it comes to saving taxes, insurance comes as the simplest and handy option for many of us.