Gestational diabetes mellitus (GDM) is a health condition marked by elevated blood sugar levels occurring during pregnancy in women who haven't previously been diagnosed with diabetes. While it typically resolves after childbirth, it poses significant health risks for both the mother and the baby during pregnancy and beyond. This blog will delve into the various complications of gestational diabetes, shedding light on the potential impacts on both maternal and fetal health.

What are The Complications of Gestational Diabetes?

If left untreated, gestational diabetes can cause several problems for both the mother and the unborn child. Risks associated with high blood sugar levels can affect long-term health and the success of pregnancies. Some of the major gestational diabetes complications include:

1. Baby-Related Complications:

Problems impacting the baby include:

● Excessive Birth Weight

Babies born with gestational diabetes may weigh more than the typical range. This disorder, called macrosomia, raises the risk of problems during delivery, such as the baby being stuck in the birth canal or getting hurt during delivery. In extreme situations, a caesarean section (C- section) can be required.

● Preterm Birth

Early labour and delivery that occurs before the scheduled date may be caused by elevated blood sugar levels. Risks associated with preterm delivery include respiratory distress syndrome, which makes breathing difficult and needs immediate medical attention.

● Severe Breathing Problems

Respiratory distress syndrome, which causes breathing problems, can occur in babies delivered prematurely as a result of gestational diabetes. Timely medical attention is necessary to safeguard the baby's health in the event of this issue.

● Hypoglycemia

Also known as low blood sugar, this condition can occur in certain newborns whose mothers have gestational diabetes. Severe hypoglycemia episodes might cause convulsions in the infant; thus, stabilising blood sugar levels right away is essential.

● Type-2 Diabetes and Obesity Risk:

It's crucial to highlight that timely intervention and proper management of gestational diabetes are linked to a reduced risk of obesity and type 2 diabetes in the children of mothers with untreated diabetes during pregnancy.

2. Mother-Related Complications:

This comprises of:

● High Blood Pressure and Preeclampsia

Pre-eclampsia and high blood pressure are dangerous pregnancy complications that can pose a threat to the lives of both the mother and the unborn child. These conditions are made more likely by gestational diabetes.

● Increased Probability of C-Section

Because of difficulties associated with high blood sugar and foetal macrosomia, women with gestational diabetes are more likely to have a surgical birth (C-section).

● Future Diabetes Risk:

Having gestational diabetes elevates the risk of type-2 diabetes later in life and increases the possibility of recurrence in subsequent pregnancies, highlighting the significance of continued monitoring and lifestyle changes.

Conclusion

The myriad complications of GDM underscore the critical need for proactive management and prevention strategies. As healthcare continues to evolve, access to comprehensive health insurance coverage becomes paramount in ensuring that mothers and babies receive the necessary care to mitigate the risks posed by this condition.

Understanding the risk factors of gestational diabetes (GDM) is pivotal in prenatal care. Identifying the risk factors associated with GDM is crucial for early detection and effective management. This blog explores the diverse factors contributing to the onset of GDM.

What are the Risk Factors of Gestational Diabetes?

While each pregnant woman has the potential to develop GDM risk factors, some conditions may add to the risk. These include:

• Individuals who are overweight or obese are at a higher risk of developing gestational diabetes due to increased insulin resistance and glucose
• Gestational diabetes risk factors are more likely in those who do not
• Pregnant individuals who have raised blood sugar levels are at an increased
• Cases with gestational diabetes in a prior pregnancy increase the risk of
• PCOS can increase the risk of gestational diabetes due to its association with insulin resistance.
• The risk is increased by a family history of diabetes, especially in close
• A tendency towards gestational diabetes is indicated by a prior delivery of a baby weighing more than nine pounds, which may be due to difficulties regulating glucose throughout pregnancy.

Conclusion

Recognising the risk factors for gestational diabetes is vital for prenatal care. Access to comprehensive health insurance facilitates early detection and management, ensuring optimal maternal and fetal health outcomes for expecting mothers at risk of developing this condition.

Indulging in sugary treats is a common pleasure, but does incur any health costs? You may have wondered, does sugar cause cancer? This article will explore the possibility of sugar causing cancer and the vital aspects associated with its intake.

Can Eating Sugar Cause Cancer?

Sugar by itself is not carcinogenic, or cancer-causing. But, excessive consumption can lead to obesity, a major cancer risk factor. However, there's no proof that sugar directly boosts cancer cell growth or causes cancer. With that in mind, here’s what you need to know about sugar consumption:

1. Maintaining a healthy sugar intake is essential:

It is recommended that healthy adult men and women with a normal body mass index should have up to 6 teaspoons (25g) of sugar daily.

2. Find the hidden sugar in your food:

Check food labels for hidden sugars in pasta sauce, salad dressings, and canned vegetables..

3.Choose natural sweeteners:

Choose natural sugars like molasses, agave, honey and maple. Opt for unsweetened drinks and swap desserts for fresh fruit.

4. Avoid using artificial sweeteners:

Artificial sweeteners have potential links with cancer, which is found in studies with lab animals.

Conclusion

To answer the question Can sugar give you cancer?, there is no current evidence that backs this claim. However, excessive intake may lead to conditions like diabetes and obesity. Having health insurance can significantly reduce the financial burden of medical bills in such cases.

Blueberries are a powerful resource for brain health improvement. Rich in nutrients and antioxidants, they are believed to have many cognitive benefits. Lets delve into the advantages that blueberries offer when it comes to improving brain health.

Blueberries Benefits for the Brain

Antioxidants in blueberries boost the functioning of the brain and improve the overall health of the immune system. These fruits also contain plenty of fibre, vitamin C, vitamin K, manganese, and other essential nutrients. A cup of blueberries provides 84 calories, 21.5 grams of carbohydrates, and 85% water.

The benefits of blueberries for the brain are numerous. Despite their small size, these fruits are rich in anthocyanins (i.e., a class of flavonoids). Anthocyanins prevent inflammation due to neurotoxins and protect glial cells, neurons, and hippocampal nerve cells. As blueberries are an excellent source of anthocyanins, including these fruits in ones daily diet improves long- and short-term memory, a persons verbal fluency, and speed of responding to a situation.

Here, we will look closely at some of the health benefits this fruit offers.

• Promotes brain cell functioning

The healthy functioning of the brain cells can be assisted by the regular dietary intake of blueberries. Blueberries suppress the effects of oxidative stress and slow down the brains ageing process. The brain’s cell signalling improves, which benefits the ageing neurons. A study conducted over 6 years with a sample size of 16,000 aged individuals reveals that the consumption of blueberries and strawberries can delay mental ageing by nearly 2.5 years.

• Improvement of cognitive function

Blueberries offer protection of the brain against the cognitive decline associated with age. Studies prove that the use of blueberries can enhance memory, attention, and overall brain performance.

• Anti-inflammatory properties

Chronic inflammation is frequently related to neurodegenerative disorders such as Alzheimers, dementia, and Parkinsons disease. The blueberries; anti-inflammatory components could also help protect the brain from inflammation and the potential development of neurodegenerative diseases.

• Promotes growth and reproduction of brain cells

Blueberries are known for improving mental clarity. This flavonoid-rich food strengthens neural connections, which lowers the risk of developing cognitive problems in the long run.

Antioxidant-rich blueberries have a positive effect on the areas in the brain influencing intelligence. This leads to better cognitive function. A study shows that eating blueberries can result in improved cerebral blood flow and enhanced brain activity. Individuals coping with mood disorders, like depression, can consume blueberries as they prevent and alleviate symptoms associated with such mental health conditions. Vitamin C in blueberries provide anxiety relief by positively impacting the brain.

As with any food, one should eat blueberries in moderation. You can talk to a nutritionist and find the right amount you should consume every day.

Conclusion

Consuming blueberries for brain health is a wise investment in overall well-being. These provide essential nutrients, and their protective properties are critical for cognitive function and mental well-being. Likewise,health insurance protects against unexpected medical emergencies and prevents financial setbacks associated with the cost of treatment.Hence, remember to keep your healthcare plan active and stay prepared for medical exigencies.

There are several causes of diabetes, and you might be wondering, Can stress trigger diabetes?

The answer is yes! No, we are not talking about trivial stress. Chronic stress is linked with diabetes.

Let us see how!

Does Diabetes Occur Because of Stress?

When you are stressed or anticipate a threat, your body triggers a response, commonly called the fight-or-flight response. This is a natural physiological reaction, and it sets off the release of hormones such as adrenaline and cortisol into your bloodstream. The consequence of the adrenaline and cortisol rush is rapid breathing and your body preparing to respond. However, individuals with diabetes cannot react as other normal people do.

Apart from the issue of reacting, the adrenaline and cortisol surge in their bloodstream can induce blood sugar levels to rise among diabetic people. The reason for this is stress, which disrupts the bodys usual mechanisms that regulate glucose. Stress can be negative or something brought on by happiness.

Conclusion

We have answered the question - does stress cause diabetes - plopping in your mind! It is also appropriate for quick advice: take health insurance to secure against the financial burden imposed by these diseases!

Street food is a beloved part of many cultures around the world. From spicy chaats and crispy samosas to hot momo and sweet jalebis, roadside food is popular for its taste, convenience and affordability. But while enjoying these treats, it's important to be careful. Eating street food without taking the right precautions can sometimes affect your health. Let’s explore the potential risks of street food and learn how to enjoy it safely in this blog.

What is street food?

Street food refers to ready-to-eat food and beverages made and sold by vendors on the streets or in public places. These foods are often cooked in front of you and are available in markets, festivals or near schools and offices. They are loved for their unique flavour and variety, and the way they reflect local traditions and tastes.

Why roadside food can be risky

Here are some common risks:

• Unclean surroundings: Dust, pollution and lack of proper waste disposal can contaminate food.
• Poor hygiene practices: Vendors may not wash their hands properly or clean utensils and surfaces before use.
• Use of unsafe water: Sometimes, unsafe water is used for cooking or washing vegetables, which can lead to health risks.
• Undercooked or stale food: Some food items may be left out for hours and sold again the next day.

Safety precautions to follow while eating street food

To enjoy street food safely, consider these precautions:

• Choose busy stalls: High footfall usually means the food is fresh and has a faster turnover.
• Observe cleanliness: Check if the vendor is using gloves, clean utensils and covered containers.
• Avoid raw or uncovered items: Stick to freshly cooked hot food rather than raw salads or cut fruits.
• Drink sealed water: Always carry your water bottle or buy sealed, packaged drinking water.
• Wash hands or use sanitiser: Always clean your hands before and after eating.

Post-street food tips

Even after eating, there are a few things you can do to stay safe:

• Watch for symptoms: If you experience stomach pain, vomiting or fever, seek medical attention quickly.
• Stay hydrated: Drinking plenty of clean water helps flush out toxins.
• Have probiotics: Curd or yoghurt can help maintain a healthy digestive system after eating outside.

While taking precautions can reduce the risk, it's also wise to be prepared for medical emergencies.

This is where family health insurance becomes important. It covers medical expenses for you and your loved ones in case of illness or hospitalisation.

Conclusion

Street food adds colour and flavour to everyday life, but enjoying it safely is key. By being alert and following simple precautions, you might help protect yourself and your family from health risks. And with a good family medical insurance plan in place, you’ll have an extra layer of security and peace of mind. So go ahead, enjoy your favourite roadside treats wisely and safely.

Disclaimer: The information provided in this blog is for educational and informational purposes only. It is not intended as a substitute for professional advice, diagnosis or treatment. Please consult a certified medical and/or nutrition professional for any questions. Relying on any information provided in this blog is solely at your own risk, and ICICI Lombard is not responsible for any effects or consequences resulting from the use of the information shared.

Health is wealth – this is what we've grown up learning. If you're a planner and believe in taking care of your health, you may already have invested in health insurance plan. Or, you may be on the lookout for the perfect health policy that covers all your concerns. But what would happen if you face a health emergency and your insurance claim gets rejected? That's not something anyone wants even to imagine. To be truly prepared for such a situation, you need to know the grounds on which health insurance claims can be denied. Let's take a look at some of the questions that may pop up in your mind.

What is a health claim?

A health claim is a formal request submitted by a policyholder to their insurance provider to cover medical expenses incurred due to illness, injury, or hospitalisation. These claims can be either cashless, where the insurer directly settles the bill with the hospital, or reimbursement-based, where the policyholder pays upfront and later seeks reimbursement.

When can an insurance claim be rejected?

Health insurance claims can be denied due to various reasons, including policy exclusions, incorrect documentation, or not following the claim filing procedures. Understanding these factors can help prevent unnecessary rejection of claims.

10 common reasons for health insurance claim rejection

The most common reasons for the rejection of health insurance claims are:

1. Incomplete or Incorrect Documentation

For cashless claims, the insurer communicates directly with the network hospital you're treated in. So, in this case, you don't need to worry about missing out on any medical documents.

For reimbursement claims (in case you're treated at a non-network hospital), two scenarios can arise:

• Non-mandatory documents are missing – The insurer will still process your claim.
• Mandatory documents are missing - The insurer will remind you about the missing documents every 15 days, i.e. on the 15th day, 30th day, 45th day, and lastly on the 60th day. Post this final reminder; the claim will be rejected due to non-receipt of mandatory documents.

2. Conditions that are Excluded from the Policy

Health insurance policies have a list of exclusions that are not covered. If you've filed a claim for an ailment falling under these exclusions, then as per the policy terms and conditions this claim would not be accepted. To avoid any confusion at the time of undergoing treatment, we recommend going through the policy wordings thoroughly before purchase.

3. Non-Disclosure of Health Conditions 

Utmost good faith is one of the basic principles of insurance, and all insurance contracts are built on the factor of trust between both parties. When you apply for health policy, you need to disclose the pre-existing diseases that you have, if any. It helps the insurer assess the health risk for your plan correctly. Sometimes people worry about not getting insurance due to diabetes or hypertension, and hence they don't disclose such pre-existing conditions. However, if a claim arises due to such a condition, it may be rejected due to non-disclosure.

4. Pre-Existing Conditions

Some of the common assumptions are related to alcohol, diabetes, hypertension, heart disorders, cancers, etc. People think if they disclose a condition like this, their policy will be denied or claims will be rejected. Hence, they conceal such existing medical conditions while applying for insurance, as well as during hospitalization. This, in turn, may mislead the treating consultant in arriving at an appropriate diagnosis. It is advisable to discuss your health conditions openly with the insurance provider and find a policy that includes pre-existing health conditions.

5. Lifestyle Choices

Lifestyle choices don't directly affect your future claims. However, there are exceptions, such as, but not limited to, alcohol consumption, which impact the admissibility of the claim.

6. Amount of Claims Exceeding the Insurance Coverage

If you've already made a few claims in the policy year and your sum insured (the maximum amount available in the year as per your policy) is used up, then your subsequent claims may be denied. Opting for a higher sum insured is a better idea, especially if you're buying a single policy for the whole family. ICICI Lombard Health AdvantEdge Health Insurance also comes with a reset benefit, whereby we rest up to 100% of the sum insured within the same policy year, in case the sum insured is inadequate due to previous claims and the claim is for a new diagnosis. The reset benefit doesn't apply for the first claim of policy year.

7. Policy has Expired

If you miss the insurance renewal date and end up filing a claim on the expired policy, your claim will be rejected. Renewing the policy in time is crucial to ensuring you don't miss out on a claim during a medical emergency. Although there is a 15-day grace period for renewals, insurance companies usually don't service your claim during this period. So it's best to renew in advance and stay protected against any unexpected health concerns that need immediate treatment.

8. Alternative Medical Treatments not Covered by the Insurance

Most insurance companies, including ICICI Lombard, will not cover hospitalization expenses for evaluation or investigation only. Also, treatment taken at a healthcare facility which is not a hospital is not covered. When you're planning to undergo AYUSH treatment, be sure to choose a Government Hospital or any institute recognized by the Government and/or accredited by Quality Council of India/National Accreditation Board on Health.

9. Failing to File the Claim on Time

As per your policy terms and conditions, you would have a specific deadline to inform us about the hospitalization. If you've not intimated us or the TPA within the stipulated timeframe, your claim may be rejected. Typically you need to inform us 2-3 days in advance about planned hospitalizations. In case of emergency hospitalization, intimate us or the TPA within 24 hours.

10. Waiting Period Limitations

There is a 30-day initial waiting period on most health policies, except accident-related claims. The waiting period is 15 days for COVID-19 claims. There is also a separate waiting period of specified duration like 1 year, 2 years, or 3 years as per the customization of your policy. Most elective surgeries like cataracts, kidney stones, gall bladder stones, joint replacements, maternity-related, etc. fall under this condition. Read your policy documents thoroughly to know more.

Apart from the reasons we've covered, there may be other causes for claim rejection too. To avoid the pain of a denied claim, we recommend reading the policy documents thoroughly so that you're aware of all the terms and conditions. These documents clearly outline the inclusions, exclusions, and deductibles of the policy. Moreover, you must keep yourself informed about the claim process and have the contact numbers of your insurer/TPA handy for assistance.

10 tips to avoid rejection of health insurance claims

Here are 10 tips you can follow to avoid claim rejection in health insurance:

1. Read Your Policy Terms Carefully – Understand inclusions, exclusions, and claim procedures.
2. Disclose Medical History Honestly – Avoid claim denial by providing accurate details.
3. Ensure Timely Payment of Premiums – Keep your policy active to avoid automatic rejection.
4. Check the Waiting Period – Plan hospitalisations accordingly if your policy has a waiting period.
5. Use Network Hospitals for Cashless Claims – Choose hospitals listed by your insurer to simplify claims.
6. File the Claim Within the Specified Timeline – Delayed claims can be rejected outright.
7. Maintain Proper Documentation – Ensure medical bills, reports, and prescriptions are in order.
8. Opt for a Comprehensive Health Insurance Plan – Broader coverage means fewer exclusions.
9. Stay Updated on Policy Changes – Insurers update terms periodically, so review your policy annually.
10. Seek Assistance from Your Insurance Provider – Contact your insurer for any clarification regarding claims.

After taking the above steps, if your claim is still denied and you're not satisfied with the reason, you may provide a written complaint to the Ombudsman. You need to do this within 30 days of receiving a response from the insurance company.

How to claim your health insurance correctly?

Follow these steps for an error-free claim process:

1. Inform the Insurance Company – Notify your insurer immediately upon hospitalisation.
2. Collect All Relevant Documents – Keep hospital bills, doctor’s prescriptions, and medical reports.
3. Fill Out the Claim Form Accurately – Ensure all details match your medical documents.
4. Submit the Claim Within the Specified Period – Avoid unnecessary delays.
5. Follow Up with the Insurance Provider – Track your claim status and respond to any queries.

Managing taxes effectively is crucial for individuals earning a salary exceeding 10 lakhs. With many options available and tax regulations constantly evolving, understanding how to save taxes becomes imperative. Individuals can minimise their tax burdens by exploring legitimate avenues for tax optimisation while making informed financial decisions. In this blog, we will discuss the strategies for tax savings for salaries exceeding 10 lakhs.

Steps to Save Tax for Salary above 10 Lakhs

When aiming to how to save tax for salary above 10 lakhs, employing strategic methods is key. Here are some essential steps:

1. Choosing the Right Tax Regime: Selecting the appropriate tax regime entails aligning with your financial situation and goals. This involves comparing the old and new tax regimes, each with unique advantages. The old regime offers deductions and exemptions, while the new regime boasts lower tax rates but fewer deductions. Assessing income sources, potential deductions and long-term financial objectives guides informed decision-making. Opting for a regime that balances tax efficiency and financial goals ensures maximal savings and overall financial stability.

2. Maximising Section 80(C) Deductions: Take advantage of Section 80(C) deductions by investing in instruments like PPF, ELSS and NSC to reduce taxable income.

3. Taking Advantage of the HRA Exemption: If you’re a salaried individual paying rent, claim the House Rent Allowance (HRA) exemption to lower your taxable income.

4. Claiming 80(D) Deductions on Health Insurance Premiums: Ensure adequate health insurance coverage for yourself and your family and claim deductions under Section 80(D) for the premiums paid.

5. Utilising Tax Deductions on Loans: If you have taken loans for education or housing, you can take deductions available under relevant sections like 80(E) for education loan interest and 24(b) for home loan interest, effectively reducing your taxable income.

Have you ever wondered what is 80C in income tax? If you're looking for ways to save on your taxes, understanding Section 80C can help. Here, you can learn about this Section of the Income Tax Act of India and explore its nuances. Section 80C offers taxpayers various avenues to reduce their taxable income. It includes investing in specified avenues and expenses like NSC, ULIPs, PPF, and more. Let’s delve into what is 80C and what’s in it for you.

Section 80C in Income Tax

As taxpayers, we look for ways to reduce our tax burden. Section 80C of the ITA helps you shrink that bill and boost your savings at the same time. Let’s look at some ways in which you can avail of tax rebates under Section 80C.

• This Section allows individuals and Hindu Undivided Families (HUFs) to claim a maximum deduction of up to Rs 1.5 lakh annually from their total taxable income. The primary objective is to encourage saving and investing.
• Under this Section of the ITA, taxpayers can avail tax exemptions on a wide range of investments and expenses. Some of the key avenues eligible for deductions include contributions to EPF (Employee Provident Fund), PPF (Public Provident Fund), payments towards life insurance premiums, NSC (National Savings Certificate), NABARD Rural Bonds, and ULIPs (Unit Linked Insurance Plans).
• Paying Stamp Duty and Registration Charges for a property makes taxpayers eligible for a tax rebate under Section 80C. However, you can avail of a tax rebate under this Section only in the year that these were paid.
• Taxpayers can avail of a tax rebate for investments made towards SCSS (Senior Citizens Savings Scheme). The tax deduction is applicable up to Rs 1.5 lakh. Taxpayers who opt for VRS (Voluntary Retirement Scheme) after attaining the age of 55 and senior citizens aged above 60 can invest in SCSS. Do note that investments in this scheme come with a lock-in period of 5 years.
• One can avail of a tax deduction under Section 80C for the Principal repayments made towards EMIs for a home loan. However, this is subject to the fulfilment of certain clauses.

Are you looking for ways to reduce your tax burden and increase your savings in India? Understanding the various saving avenues is crucial to optimising your financial resources. Join us as we explore a comprehensive range of strategies to help you save on income tax while strengthening your financial future. Gain valuable insights on maximising tax efficiency and achieving long-term financial stability in India.

How to Save Income Tax in India?

Many often ponder, ‘How can I save tax in India?’ Here, you can discover various steps to minimise your taxable income:

1. Tax-Saving Investment Options under Section 80C: Tax savings can be achieved through investments in diverse schemes like the Public Provident Fund (PPF), Equity Linked Saving Schemes (ELSS) and National Savings Certificate (NSC). Employee Provident Fund (EPF) contributions also qualify for tax deductions under this section.

2. Ensuring the Health of Your Loved Ones and You: One effective method is to purchase health insurance plans for yourself, your spouse, your children and your parents. Premiums paid towards these policies qualify for tax deduction under Section 80D of the Income Tax Act.

3. Submitting Rent Receipts: If you’re a salaried individual residing in a rented accommodation, submitting authentic rent receipts to your employer can enable you to claim House Rent Allowance (HRA) exemption, reducing your taxable income.

4. Making a Charitable Donation: Donating to eligible charitable organisations or institutions is another way to save on taxes. Donations to such entities qualify for tax deduction under Section 80G of the Income Tax Act. Ensure the organisation is registered under Section 80G and obtain the necessary donation receipt.

5. Financing Higher Education: You can avail tax benefits by taking an education loan for your own, your spouse’s or your children’s higher education. The interest paid on such loans is eligible for tax deduction under Section 80E, subject to certain conditions and limits.

6. Buying a House: Repayment of the principal amount of a home loan qualifies for tax deduction under Section 80C. Additionally, the interest paid on a home loan is eligible for deduction under Section 24(b) of the Income Tax Act, subject to specified conditions and limits.

Ensuring thе accuracy of your incomе tax rеturn is crucial, and with thе advеnt of tеchnology, е-vеrification has bеcomе еffortlеssly accеssiblе. Here, wе’ll unravеl thе straightforward stеps of how to е-vеrify your incomе tax rеturn, guarantееing sеamlеss procеss. By еmbracing еlеctronic vеrification, you еxpеditе thе confirmation of your rеturn and contributе to a morе sustainablе and еfficiеnt tax filing process. Join us as wе dеmystify this procеss, еmpowеring you to navigatе thе digital landscapе confidеntly and еasily, еnsuring compliancе and pеacе of mind.

Steps to E-Verify Income Tax Return

You can follow the steps listed below to e-verify your ITR.

• Stеp 1: Accеss thе е-Filing Portal

Thе first stеp in е-vеrifying your incomе tax rеturn is accеssing thе е-Filing portal. You can do this by visiting thе official wеbsitе of thе Incomе Tax Dеpartmеnt of India. Oncе thеrе, locatе and click on thе ‘е-Vеrify Rеturn’ option. This will dirеct you to thе е-Vеrify Rеturn pagе.

• Stеp 2: Providе Nеcеssary Information

On thе е-Vеrify Rеturn pagе, you will bе promptеd to еntеr spеcific dеtails to authеnticatе your idеntity and vеrify your rеturn. Hеrе’s what you’ll nееd to do:

1. Enter Your PAN: Provide your Permanent Account Number (PAN), which serves as your unique identifier for tax-related transactions.

2. Select Assessment Year: Choose the assessment year for which you are verifying the income tax return. The assessment year typically refers to the financial year for which the return is being filed.

3. Enter Acknowledgment Number: Input the acknowledgment number of the Income Tax Return (ITR) that you have filed. This acknowledgment number is generated upon successful submission of your return.

4. Provide Mobile Number: Enter the mobile number that is registered with your PAN Card. This is crucial as the Income Tax Department will send an OTP (One-Time Password) to this mobile number for verification purposes.

• Stеp 3: Vеrify Your Idеntity

Aftеr providing thе rеquirеd information, click on thе ‘Continuе’ button. This will initiatе thе vеrification procеss. You will rеcеivе an OTP on thе mobilе numbеr providеd еarliеr. Entеr this OTP in thе dеsignatеd fiеld to authеnticatе your idеntity.

• Stеp 4: Confirmation

Oncе you’vе еntеrеd thе OTP succеssfully, thе systеm will vеrify your idеntity and validatе your incomе tax rеturn. You will rеcеivе a confirmation mеssagе indicating that your rеturn has bееn succеssfully е-vеrifiеd.

Unlocking the potential of tax-saving strategies is pivotal for sound financial planning. Among these strategies lies the House Rent Allowance (HRA) tax exemption, a vital aspect for salaried individuals who rent accommodation. Understanding the mechanics of how to calculate HRA tax exemption can translate into significant savings. Let’s delve into the details and understand the determinants of HRA so that you have clarity regarding the same.

What is HRA (house rent allowance)?

HRA is an employer-provided allowance to employees to meet housing rental expenses. It forms a part of the salary structure and offers tax benefits under the Income Tax Act when the employee resides in rented accommodation.

Is HRA taxable?

HRA is taxable if an employee does not live in rented accommodation or fails to provide necessary rent receipts. However, if the employee pays rent and complies with documentation requirements, a portion or the entire HRA can be exempted from tax, as calculated above.

HRA for self-employed individuals

Self-employed individuals do not receive a salary; hence, they are not eligible for HRA. However, they can claim a deduction for rent paid under Section 80GG of the Income Tax Act, subject to certain conditions.

HRA for salaried individuals

Salaried individuals receiving HRA as part of their salary can claim tax exemption on it, provided they live in rented accommodation and furnish valid rent receipts. The exemption is calculated based on the criteria mentioned earlier.

How to claim HRA exemption?

To claim HRA exemption:

1. Submit Rent Receipts: Provide your employer with rent receipts or a rental agreement as proof of rent paid.
2. PAN of Landlord: If the annual rent exceeds ₹1,00,000, furnish the landlord's PAN to your employer.
3. Declaration: Some employers may require a declaration form detailing the rent paid and the landlord's details.

How to calculate HRA exemption?

The tax deduction for HRA is determined by the following:

1. Actual rent paid minus 10% of the basic salary

1. Actual HRA provided by the employer

1. 50% of the salary if the residential house is in Mumbai, Delhi, Chennai or Kolkata; 40% of the salary if the residential house is elsewhere.

Please note that for HRA calculation purposes, ‘salary’ encompasses the sum of basic salary, dearness allowance (DA), and other applicable commissions.

These three scenarios delineate how HRA tax exemption is computed. Understanding these scenarios is crucial for optimising your tax advantages. Let’s delve deeper into each scenario to gain a clearer understanding.

• Actual Rent Paid Minus 10% of Basic Salary: This calculation considers the actual rent paid by the employee minus 10% of their basic salary. For instance, if the rent paid is Rs 12,000 and 10% of the basic salary is Rs 2,300, the exemption would be Rs 9,700.
• Actual HRA Offered by Employer: This is straightforward — it’s the HRA amount provided by the employer. Here, the HRA offered is Rs 15,000. However, this may vary depending on the individual’s employment terms.
• 50% of Basic Salary: Half of the basic salary is another benchmark for calculating HRA exemption. This ensures a balanced approach, especially for individuals with high rents relative to their salary.

Do note that the minimum of the above three computations will be the actual amount paid as rent minus 10% of one’s basic salary.

Also, you must remember the following:

• If you pay an annual rent that exceeds Rs 1 lakh, you will require your landlord’s PAN Number to claim HRA exemption. If you are unable to provide the landlord’s PAN Number, you can submit a signed declaration from him/her.
• You cannot claim an HRA deduction for rent paid to your spouse.
• Rent paid to your parents makes you eligible for HRA exemption, but your parents will need to declare it in their ITR.

HRA calculator

Several online tools can assist in calculating your HRA exemption:

• ClearTax HRA Calculator: A user-friendly tool to compute your HRA exemption.
• ICICI Prudential HRA Calculator: Offers detailed insights into your HRA exemption.

How to claim HRA when living with parents?

If you reside in a property owned by your parents, you can pay them rent and claim HRA exemption, provided:

• Rental Agreement: Draft a rental agreement between you and your parents.
• Rent Payment: Transfer rent to your parents' bank account regularly.
• Parents' Income Declaration: Your parents must declare this rental income in their tax returns.

This strategy can be tax-efficient if your parents are in a lower tax bracket or have no taxable income.

How to claim deduction under section 80GG?

Section 80GG allows individuals not receiving HRA to claim a deduction for rent paid, subject to the following:

• Eligibility: Applicable to self-employed or salaried individuals not receiving HRA.
• Deduction Limit: The least of the following:
  • ₹5,000 per month
  • 25% of total income (excluding capital gains)
  • Actual rent paid minus 10% of total income

To claim this deduction, file Form 10BA confirming that you do not own any residential property.

Can I claim HRA and deduction on home loan interest?

You can claim both HRA and home loan interest deductions if:

• Different Locations: The rented and owned properties are in other cities.
• Same City: If both properties are in the same city, provide valid reasons (e.g., distance from the workplace) for not residing in the owned property.

Conclusion

Mastering how HRA tax exemption is calculated is essential for optimising tax savings and maximising take-home pay. Similarly, you can avail yourself of a tax rebate for an individual health insurance plan or health insurance policy for family premium payments under Section 80D of the Income Tax Act. By understanding the various factors involved, individuals can make informed decisions regarding tax planning. By leveraging both HRA tax exemption and health insurance benefits, individuals can build a robust financial foundation and save a significant amount of their taxable income.

Disclaimer: The information provided in this blog is for educational and informational purposes only. It is not intended as a substitute for professional advice, diagnosis, or treatment. Please consult your general physician or another certified medical professional for any questions regarding a medical condition. Relying on any information provided in this blog is solely at your own risk, and ICICI Lombard is not responsible for any effects or consequences resulting from the use of the information shared.

Dealing with taxes is an experience that many find burdensome yet unavoidable. The paperwork, rules and the hefty year-end bill can all contribute to stress. However, amidst the tax landscape, there exists a system designed to simplify things — Tax Deducted at Source (TDS). So, let's find out what is TDS in income tax.

What is the Meaning of TDS in Income Tax?

When we talk about what is TDS, we need to understand its meaning and how it affects us as taxpayers.

• At its core: Consider TDS as a tax payment in advance. When you receive payment for services, a portion is withheld as TDS (tax deducted at source) and remitted directly to the government.
• Key players: The individual or entity making the payment deducts and remits TDS. As the recipient, you receive recognition for the amount already remitted.
• Why opt for TDS: It ensures tax collection by the government, reducing instances of non-payment of taxes.
• TDS in our lives: If you have a job, rent out a property, win a prize or earn interest on investments, TDS is likely to be involved.
• Prevents tax evasion: TDS helps prevent tax evasion by collecting a portion of tax upfront, reducing the chances of people hiding their income.
• Distributes tax payments: Instead of making a large payment at the end of the year, TDS spreads out the tax collection process, making it more manageable for both individuals and the government.
• Varied based on income: TDS rates are not uniform. They differ depending on the type of payment and the recipient's income tax bracket.
• Issuance of TDS certificates: The person deducting TDS provides you with a certificate as proof of payment. This document is crucial when filing your taxes.
• Possibility of TDS refunds: Sometimes, more TDS might be deducted than your tax dues. This situation could result in a refund when you file your taxes.

Dealing with taxes always brings a sense of uncertainty. The paperwork, the rules, and the ongoing quest to find ways to save a few rupees in your pocket keeps you worried. Lately, things have gotten more confusing with the arrival of the new tax system. You've probably heard about the standard deduction. Can you actually use it under this new setup? Also, will it really help you save money? Let's find out whether the standard deduction is applicable in the new tax regime.

Is Standard Deduction Applicable to the New Tax Regime?

The good news is that you can avail of rebates in the tax system. This offers some relief, even if you opt for this new structure.

• The Twist: You won't be able to benefit from deductions, such as House Rent Allowance (HRA), specific investments or health insurance premiums.
• The Amount: Presently salaried individuals can claim a standard deduction of up to Rs 50,000 with variations for retirees.
• Do Your Calculations: It's essential to assess which system is more advantageous for your situation. Consider all aspects; your earnings, the standard deduction and whether other deductions could result in savings under the previous system are all important aspects.
• The Decision-Making Factor: Although the new system offers the standard deduction, taxpayers need to decide between opting for it and utilising deductions and exemptions under the old tax regime.
• Primary Beneficiaries: Note that the standard deduction in the new system is particularly advantageous for individuals with qualifying deductions (such as HRA or substantial investments).
• The Significance of Contrasts: Taxpayers must use tax tools or seek advice from professionals to compare their tax obligations under both systems, taking into account the standard deduction and their individual situations.

In gaining clarity on — is standard deduction applicable in the new tax regime — grasping the concept of the standard deduction in the updated tax structure is one element of a larger picture. Ultimately, making an informed decision requires evaluation. Assess your income deductions from before and how much effort you will invest in filing taxes. If you need assistance navigating these choices, feel free to reach out to a tax consultant. The knowledge and skills of tax consultants can help you save money and ensure you have peace of mind when it comes to finances.

When tax season arrives, that sense of unease sets in. The paperwork, the calculations, and the troubling question: Should we stick with the old tax system or opt for the efficient "new" one that gives us sleepless nights? The Indian government offers choices. Determining which system suits you can seem like solving an age-old riddle and saving every rupee that matters to you. What if a misstep leads to losing out on the rebates? Let's navigate through this together and find out which income tax regime is better.

Which Income Tax Regime is Better?

This decision to switch between the new and old tax regime depends on several factors like —

• Your Income Level: The new tax system features lower tax rates, potentially making it advantageous if you fall into a higher tax bracket. However, do not overlook the deductions and exemptions under the old tax system.
• Utilising Deductions: If you fully utilise deductions such as home loan interest, eligible investments and health insurance premiums, sticking with the old regime might be preferable.
• Ease of Use vs. Financial Gains: Navigating through the old tax system requires paperwork, but it has the potential to result in significant savings if you take full advantage of available deductions. On the other hand, the new system simplifies the process but may not offer generous tax benefits compared to the old tax structure.
• The key is flexibility: The good news is that you're not bound to one system forever! You have the freedom to switch between regimes each year, allowing you to adjust based on changes in your circumstances. But you must either be a salaried individual or a pensioner.
• Looking ahead at your objectives: Apart from cost savings, consider your long-term financial goals. The old system, with its focus on deductions, might be more beneficial if you are actively saving for retirement, purchasing a house, or engaging in investments.
• Employer perks: Does your employer provide tax-saving benefits such as housing allowances or meal vouchers? These perks could complement the old system but may not offer substantial advantages under the new setup.
• Risk tolerance: Opting for the old system entails managing paperwork and calculations, which could increase error risks. If dealing with deduction complexities causes stress, transitioning to the new regime might be worth a slightly higher tax burden.

Advance income tax is payment made beforehand rather than at the end of the financial year. It is to be paid in instalments as per the due dates notified by the income tax department. It is also known as ‘pay as you earn’ and needs to be paid in the same year of earnings.

In today’s busy lifestyle, you can avail yourself of online payment options to avoid last-minute hassles. Advance income tax also helps mitigate stress that a taxpayer might undergo during tax payments at the end of the financial year; paying advance tax helps one as it does not involve shelling out taxes in a lump sum at the end of the financial year.

If you’re wondering how to pay advance tax online, we will explore a stepwise process of how you can go about it.

Advance tax calculator – calculate advance tax liability

You can use online calculators on various financial platforms to determine your advance tax liability. These tools require inputs such as your estimated annual income, deductions, and applicable tax rates to compute the amount payable. Accurately calculating the income and deductions is crucial for precise calculations.

What is advance tax?

Advance tax is the income tax payable if your total tax liability exceeds ₹10,000 in a financial year. It applies to various income sources beyond regular salaries, including rent, capital gains, lottery winnings, and fixed deposits. Timely payment of advance tax helps avoid interest penalties and ensures compliance with tax regulations.

Who should pay advance tax?

The following categories of taxpayers are required to pay advance tax:

• Salaried Individuals: While employers deduct tax at source (TDS) on salaries, individuals with additional income from sources like interest, rent, or capital gains may need to pay advance tax.
• Freelancers and Professionals: Those earning income without TDS deductions must assess and pay advance tax.
• Businesses: Both corporate and non-corporate entities are obligated to pay advance tax on their profits.

Advance tax due dates for FY 2024-25

For the financial year 2024-25, advance tax payments are scheduled as follows:

• On or before 2024 15th June: 15% of the advance tax liability.
• By 15th September 2024: 45% of the advance tax liability, less the amount paid in the previous instalment.
• By 15th December 2024: 75% of the advance tax liability, less the amounts paid in earlier instalments.
• By 15th March 2025: 100% of the advance tax liability, ensuring the entire tax is paid before the financial year ends.

How to pay advance tax online?

Let us go through the steps and clarify how to make advance tax payments online for your quick reference.

• Step 1: Go to the e-filing portal of the Income Tax Department of India.
• Step 2: Go to the ‘Quick Links’ section on the home page and click the ‘e-pay tax’ option. Taxpayers can also search ‘e-pay tax’ in the search box.
• Step 3: On the next page, insert your PAN and re-enter to confirm it. Then, type your mobile number and click ‘continue.’
• Step 4: You will receive a 6-digit OTP on your registered mobile number. Enter the OTP and ‘continue.’
• Step 5: Select the first box labelled as ‘Income Tax’ and click on ‘Proceed.’
• Step 6: Go to the ‘Assessment Year’ as 2024-25, select ‘Type of Payment’ as “Advance Tax (100)’ and click on ‘Continue.’
• Step 7: Enter tax details in the next screen.
• Step 8: Select your desired payment bank and click on ‘Continue.’
• Step 9: You can preview the challan details and click ‘Pay Now’. You may also ‘Edit’ your shared details if required.

This is how to make advance tax payments online through a few easy steps. Once payment is made, you will receive an acknowledgement on the next screen. Check the challan serial number and the BSR code on the right side of the advance tax payment challan. You will need these details while filing your income tax return and future references related to tax issues.

What is advance tax late payment interest?

Failure to pay advance tax on time results in interest penalties under Sections 234B and 234C of the Income Tax Act:

• Section 234B: Applies if advance tax paid is less than 90% of the assessed tax. Interest at 1% per month is charged on the shortfall from April 1st of the assessment year until payment.
• Section 234C: Pertains to delays in instalment payments. A 1% per month interest is levied on the deferred amount for each month of delay.

How is advance tax payment calculated?

To calculate advance tax:

1. Estimate Total Income: Include all income sources such as salary, business profits, interest, and capital gains.
2. Deduct Allowances and Exemptions: Apply eligible deductions under sections like 80C, 80D, etc.
3. Compute Tax Liability: Apply the prevailing income tax rates to the net taxable income.
4. Subtract TDS: Deduct any tax already withheld at source.
5. Determine Advance Tax: If the remaining tax liability exceeds ₹10,000, you're required to pay advance tax as per the specified instalments.

Conclusion

Now that you know how to pay advance tax online, you can explore options to save on taxes. For instance, taxpayers can claim deductions on health insurance premiums under Section 80D of the ITA. Talk to a financial expert to clear doubts before making any tax-related decisions. Paying advance tax on time is crucial for financial discipline and tax compliance. Just as selecting the right health insurance policy or maternity insurance policy ensures financial security during medical emergencies, timely advance tax payments prevent last-minute financial stress and penalties.

Disclaimer: The information provided in this blog is for educational and informational purposes only. It is not intended as a substitute for professional advice, diagnosis, or treatment. Please consult your general physician or another certified medical professional for any questions regarding a medical condition. Relying on any information provided in this blog is solely at your own risk, and ICICI Lombard is not responsible for any effects or consequences resulting from the use of the information shared.

Navigating the complexities of taxation is a fundamental aspect of running a business, especially in Goods and Services Tax (GST). At the heart of GST lies an essential concept: Input Tax Credit (ITC). But what is an input tax credit? Simply, it represents the GST, a taxable entity that pays on purchases of goods and services intended for business use. This credit is a powerful tool, allowing businesses to reduce the GST payable on their sales. However, accessing this benefit requires compliance with specific conditions mandated by tax authorities. Let's look at the Input Tax Credit and see how it helps businesses manage their taxes better.

Understanding the Meaning of Input Tax Credit

• Input credit in GST refers to reducing the output tax paid by the amount already paid on inputs.

• You can claim input credit for taxes paid on purchases if you're a manufacturer, supplier, agent, e-commerce operator, or any other entity registered under GST.

• To avail input credit under GST, it is necessary to possess a valid tax invoice or debit note from a registered dealer for the purchases made, along with the receipt of the goods or services.

• Input credit is available once the supplier has deposited the tax to the government or claimed input credit, filed GST returns, and uploaded the invoice in their GSTR-1, appearing in the recipient’s GSTR-2B.

• Input credit is allowed only if your supplier is GST compliant, ensuring validation before claiming it.

• Unclaimed input credit resulting from higher taxes on purchases compared to sales can either be carried forward to future tax periods or refunded to the taxpayer.

• Taxpayers cannot claim input tax credit for purchase invoices older than one year, except under special circumstances specified in Section 18(1).

• GST input credit applies to goods and services except those on the exempted or negative list, including capital goods.

• Input tax credit isn’t allowed for goods and services for personal use.

• No input tax credit is permitted after filing the GST return for September following the end of the financial year or filing the relevant annual return, whichever comes first.

The process of income tax calculation, governed by The Indian Income Tax Act, is vital for financial planning. Despite no changes in tax slabs in the recent interim budget, understanding how income tax is computed is essential for individuals and businesses.

How to Calculate Income Tax?

We will see how to calculate income tax on our salary:

1. First, Calculate Your Gross Salary

   Gross salary refers to your earnings before any deductions are made. It includes:

• Basic salary
• House rent allowance (HRA)
• Other allowances like transport allowance and other special allowances.
• And other perquisites

2. Secondly, Calculate Allowable Deductions

   Now you have calculated the gross salary, it’s time to make deductions. Now, deduct the eligible amounts under various sections of the Income Tax Act. Common deductions included under the income tax are:

• Section 80C: According to sections 80C, investments in ELSS, PPF, NSC, life insurance and premiums, tuition fees, etc., up to ₹1.5 lakh.
• Section 80D: According to section 80D, premiums paid for health insurance for yourself, your spouse and dependent children are up to ₹25,000 (₹50,000 for senior citizens).
• Section 80E: According to section 80E, interest on education loans.
• Section 80TTA: According to section 80TTA, interest earned on savings accounts up to ₹10,000.

3. Thirdly, Compute Taxable Income

   Your taxable income is the difference between your gross salary calculated in step 1 and deductions calculated in step 2. In other words, the amount of salary left with you after deductions is your taxable income.

4. Fourthly, Apply the Applicable Tax Slabs

   For FY 2023-24, the slabs are as follows for individuals below 60 years:

• Up to ₹2.5 lakh: No tax
• ₹2,50,001 to ₹5,00,000: 5%
• ₹5,00,001 to ₹10,00,000: 20%
• Above ₹10,00,000: 30% Additional cess and surcharge may apply for higher income brackets.

5. Fifth, Calculate Tax Payable

   Now it’s time to calculate the amount of tax you should pay.

• One- Identify the tax slab applicable to you.
• Two- Apply the tax rates on your taxable income.
• Three- Then, add cess (4% on the income tax).

6. Sixth, Adjust for Tax Rebates and Relief

   If your taxable income is up to ₹5 lakh, you will be eligible for rebate under section 87A. If you have received arrears of salary, you can also avail relief under section 89.

7. Seventh, Final Calculation

   To know the actual amount of tax payable, deduct any amount you have paid as tax deducted at source (TDS) from the tax payable you calculated above. This will give you:

• You need to pay income tax or
• The refund you will receive.

Navigating the intricacies of tax filing can be daunting, especially when filling out Schedule 80D in the Income Tax Return (ITR). This vital document pertains to health insurance and medical expenditure deductions, significantly influencing your tax liabilities. Understanding its nuances is paramount for accurate filing and maximising deductions.
Let’s delve into the essentials of completing Schedule 80D in your ITR to ensure compliance and optimise your tax-saving opportunities.

What is Schedule 80D in ITR?

Schedule 80D in ITR refers to the tax deductions taxpayers can claim for the premiums they pay for medical insurance policies. These policies can be for self, parents, spouse, and dependent children. This section also allows for deductions for the medical expenses that are paid by senior citizens. These deductions can be claimed by individuals and Hindu Undivided Families (HUF).

The maximum amount of deductions that taxpayers can claim under this section are:

Individuals –
maximum of Rs.25,000 for self and family members (below 60 years)
maximum of Rs. 50,000 for self, parents, or spouse (below 60 years)

HUFs –
maximum of Rs.25,000 for insurance taken for members below 60 years
Maximum of Rs.50,000 for insurance taken for members below 60 years

Fill Schedule 80D in ITR

Firstly, let us understand the eligibility for health insurance premiums paid under Section 80D of the Income Tax Act:

• Taxpayers below 60 years old can claim deductions of up to INR 25,000 annually.
• Senior citizens can claim a maximum deduction of INR 50,000 each year.
• So, if you pay premiums for senior citizen parents and your health insurance premium, you can avail of a tax rebate of up to INR 75,000 yearly.
• If all policyholders are above 60, deductions of up to INR 1 lakh can be claimed annually.

To claim these deductions, visit the Income Tax e-filing portal and fill out Schedule 80D in ITR.

So, how to fill Schedule 80d in ITR?

• The first step is to visit the ITR e-filing portal and login with your credentials.
• You will find a list of ITR forms. Select the one that applies to you, like ITR-1 Sahaj or ITR-4 Sugam.
• Next, click on ‘Tax Deductions’ under the ‘Gross Total Income’ section.
• You will be directed to a page that has questions regarding tax deductions. In the 5th question, confirm eligibility for deductions related to medical insurance premiums and preventive health check-ups by clicking on ‘Yes’.
• Fill out Schedule 80D accurately on the next window. Enter complete and correct details of health insurance premiums and preventive health check-up expenses that you have incurred during the financial year.
• If you pay premiums for senior citizen parents, provide the necessary information to claim the deduction.
• After filling in all the details, click ‘submit’.

Understanding the intricacies of income tax regulations is crucial for every taxpayer, and Section 80TTA of the Income Tax Act, 1961, is a provision that warrants attention. This section offers up to INR 10,000 deduction on the interest earned from savings deposited in banks, cooperative societies or post offices. Serving as a means to alleviate the tax burden on savings, 80TTA is pivotal in optimising tax liabilities and promoting prudent financial management. Let’s delve into what Section 80TTA entails and its implications within income tax.

80TTA in Income Tax

As taxpayers seek avenues to minimise their tax burden while maximising savings, delving into the nuances of 80TTA becomes essential. Let’s explore what Section 80TTA entails and how it impacts taxpayers within the realm of income tax.

• 80TTA provides a deduction on the interest earned on the savings account.
• This section was introduced in 2013 in the Finance Bill passed, and it was made applicable in the financial year 2012-13 and is in use to date.
• Individuals or Hindu Undivided Families can avail of deduction under section 80TTA of the Income Tax Act.
• This deduction is earned for the interest individuals, or HUF, earn on their savings and post office accounts.
• NRIs Non-Resident Indians are also eligible to claim the deduction under section 80TTA.
• The deduction under Section 80TTA in income tax is over Rs 1.5 lakh under Section 80 C.
• According to the Income Tax Act of 1961, the interest incomes not allowed under Section 80 TTA are fixed deposit, recurring and corporate bond interests in India.