NOMINEE & LEGAL HEIR ??

*MUST KNOW LEGALITY - YOUR NOMINEE AND THE LEGAL HEIR*

I wonder how many of us are aware of this legal twist. Will your nominee get the money on your death ? Did you think that your nominee is the person who will get all the money legally from your Life Insurance Policy and mutual funds investments ?
Ha! That is exactly what you think if you are not aware of the legal aspects. We assume a lot of things that sound like they are obvious but are not true from the legal point of view. Today, we all concentrate on nominations in financial products. Ask yourself --

INCOME TAX 2025 (FILING ITR JUL 25 )

 INCOME TAX PROVISIONS FOR FINANCIAL YEAR 2024-25 (AY 2025-26)

(NOTE - This post is further to our post (CLICK) for past FY in this site ) )

1. For the FY 2024-25 (current) even though not many changes have been made from the previous year,  the New Regime has further been made more attractive and beneficial for a larger segment of Middle Class Tax payers.  For a Taxable Income of 12 Lakhs the total savings for  salaried person incl pensioner savings to the extent of Rs 17000 have been incorporated as compared to FY 2023-24.