Thursday, June 23, 2016

[Review] ICICI Pru iProtect Smart - Online Term Insurance Plan

By No comments: - ICICI has just announced new Online Term Insurance Plan "iProtect Smart". It is one of the comprehensive Best Online Term Insurance Plan which has covered Maximum Term (40 years), female organ cancers, Single, Yearly, Half-Yearly, or Monthly of Premium payment, Tax Benefit and accidental death benefit with critical illness covered.

[Review] ICICI Pru iProtect Smart - Online Term Insurance Plan

iProtect Smart also provides facility of special premium rates for women,non-tobacco customer. You can get Sum Assured in case of Accidental death.

Eligibility Criteria :- Minimum age18-65 year for entry and minimum age for maturity is 23-75 years.

There are 3 benefit options Life, Life plus, Life and Health and All in one. which provide different options for entry and maturity age benefit. On below image, Basunivesh has perfectly explained the benefit options of iProtect Smart. Take a look at the image, it will help you to understand the benefit option.
benefit options
This are 3 benefit options and all 3 benefit option have different death benefit payout options. Check out benefit option wise death benefit payout options. In below example, assume Person's age 30 years, term 30 years, sum assured Rs.1cr, accidental rider- Rs.1cr, critical illness rider Rs.10 lakh.
death benefit payout options

you get Income benefit of 10%. 10 income to be paid for 10 years to nominee.And the amount will be increased for every year by 10% of simple interest. It means if you buy Term insurance plan of Rs.1.5 crore, you need to pay 17 thousand of yearly premium. In case of your death, your family will receive Rs.1,25,000 for 10 years.

In another case if you have bought 1cr of iProtect Smart insurance, you need to pay Rs.15k of annual premium, in case you are diagnosed with critical illness, and you need some money, you will get you money and your term insurance will continue. Upon your death, your nominee will get sum assured minus money given for critical illness. 

So do you life  ICICI Pru iProtect Smart insurance plan? Well, before buying this plan, take a look at the comparison of all other available online term insurance plans. On below table you can find detail comparison of features and benefits of online term insurance plans;
best onlien term insurance plan

This table is made by Sanyam Jain from, In which you can find comparison of  ICICI Pru iProtect Smart with HDFC life click 2 protect plus, LIC e-Term Plan, Max Life Online Term Plan, and Kotak life preferred e-term.

Hope now its clear for you that which online term insurance plan is good for you. You can ask us any comment you have.

Official brochure of ICICI Pru iProtect Smart.

Thursday, June 2, 2016

Calculate Service Tax? Current Service Tax Rate in India

By No comments:
Government of India has again increased Service Tax Rate. If you are searching for Service Tax Rate in india, you can find all the details here. Service Tax is additional indirect tax we pay for service we use. Apart from Service Tax, we have 20+ Taxes in India. Here we have explained everything about Service Tax, Service Tax Payment, Service Tax Rules and much more.

Calculate Service Tax? Current Service Tax Rate in India

Current Service Tax Rate in India
Service tax is added to the goods and service price for which customer needs to pay additional price. Money collected from service tax are distributed between central government and state government. we will start with current service tax rate, and additional cess which added upon existing service tax.

Current Service Tax Rate in India

As per the latest account, we are paying 14% of service tax price on goods and service we use, i.e if you buy something of Rs.100, you need to pay Rs.14 extra of Service tax;
  • Service Tax Rate :- 14%
But, In Union budget 2016, Finance minister Arun Jaitley has announced 2 new additional cess, Swachch bharat cess and Krishi Kalyan Cess.

So total Service tax + Cess is;
  • Service Tax = 14%,
  • Swachch Bharat Cess = 0.5%,
  • Krishi Kalyan Cess = 0.5%.
  • Total Service Tax = 15%.

Note :- Krishi Kalyan Cess is just introduced from 1st June, 2016 (which was announced on Union budget 2016, in Feb, 2016).

Why Government levies Service tax and cess on goods and service we consume?

As per the research, only 3% population of india is paying Income Tax in india. So, to provide funds to other government policy, schemes, programs, Government collects Service Tax. As mentioned above, Service tax is extra added to goods and service and no where related to income tax.

How much Government of india earns via Service tax and Cess?

As per the official data, in the year 2015-16, government of india earns Rs.1,81,850.54 cr. While Cess gives around 18.6 % share in service tax.Almost large part of taxes comes from service tax, after income tax.

How much burden consumers need to bear with additional cess?

Since after adding two additional cess, (swachch bharat cess and krishi kalyan cess), we are now paying 1% extra on all service. Below is particle example of Service tax calculation.

1. Internet Bill Charge :- Rs.1000/-
-  Service Charge (4%) :- Rs.40/-
-  Service Tax (12.36%) :-Rs. 416/-
( As it is levied on 40% of price)
- Swachch bharat Cess (0.5%) :- Rs.58.00/-
- Krishi Kalyan cess (0.5) :- Rs.58.00/-
- VAT (12.5%) :- Rs.130/-

Total :- Rs.1337.41

So, For service of Rs.1000/-, you are paying additional Rs.337.41 as Tax.

2. Railway Travel (After increase in service tax)

From Mumbai to Delhi (Rajdhani) Fare :- Rs.2367/- (AC II)
- catering charges :- Rs.295/-
- Reservation charges :- Rs.50/-
- Superfast Charges :- Rs.45/-
- Swachch bharat Cess :- Rs.103/-
- Krishi Kalyan Cess :- Rs.103/-
- Service Tax :- Rs.103/-

Total :- Rs.3066/-

Central government will be more interested to add cess than increasing service tax because, Cess is directly goes to central government's account (state government gets nothing) while  from service tax, central and state govt both gets its share.

Friday, May 27, 2016

Download Form 12BB - Income Tax Deductions Form for Employees

By No comments:
Download Income Tax Declaration Form 12BB for Employees. If you are employee of any company and going to file income tax return form, you need to fill Form 12BB which is new form announced by Income Tax Department of India for Employees to declare income tax. In Form 12BB, employees need to mention provisional statement about proposed investments they made in current financial year and expenses (which can be deducted in Income tax act).

Download Form 12BB - Income Tax Deductions Form for Employees

Effective from 1st June, 2016, Employees whose income are taxable (After investment and expenses), they need to fill IT Form 12BB to declare their income, LTA, LTC, HRA, Home loan interest, and other information which are listed in the Form 12BB.

How income tax of Employee Calculated?

 As per the rules, currently Income tax of employee is deducted by Employer (TDS – Tax deduction at source) from their monthly salary (if the employee’s salary is more than income tax slab). And to calculate TDS income, Employer do count declared investments of employee and also calculates the expenses which can be counted in 80C and other income tax deduction acts of income tax India.
Currently, Employees do not need to fill any form, just need to mention investment/expense in exempt allowance. But this practice will not be valid from 1st June, 2016, as now Form 12BB has been introduced by IT department of India.

List of Things to mention in Form 12BB (Income Tax deduction)

Below is first part of Form 12BB, you can check below list of things you need to mention in Form 12BB (if any applicable);
Form 12BB
Name and Address of Employer :- Fill the name of your company with Address
PAN Number of employee :- Your PAN Card Number
Financial Year :- Mention the Financial year you are filling Form 12BB for
House Rent Allowance: - As per IT Act 10 (13A), House Rent Allowance get exemption from Taxable Income. You need to provide Rent receipts (if you are living on rent house), house owners name and address, amount you paid as a House Rent to be mentioned in Form 12BB.
Note: - You need to mention House owner’s Pan Card number, in case your house rent exceeds more than 1 lac.

- Leave Travel Allowance (LTA):- You need to provide all proof of travel expense you made from LTA money in 12BB form.

- Home Loan Interest :- If you have taken home loan , you can exemption of interest paid for home loan under Section 24, Mention the amount you paid as an interest, your name and address and Pan card number.

- Investments: - If you have made any investment which can be deducted under 80C, 80CCC, 80CCD, 80D, 80G, 80EE or 80E section of income tax, you can mention that in Form 12BB.

- For Employers: - Central Board of Direct Taxes (CBDT) has clearly mentioned that Employers need to give proper evidence of the employee’s income and calculate the TDS according to that. 

- For employees :- if your income is less than income tax slab or if you have paid more income tax than your actual income at the end of financial year, you can claim Income Tax Refund.

Download ITR Form 12BB here

Employees can download PDF format of ITR Form 12BB from this link.

Friday, May 6, 2016

Check Bank Account Balance via Miss Call Banking Toll Free Numbers

By No comments:
Do you want to know about “Miss Call banking”? Here we are providing you bank wise numbers to check balance by miss call, text message. Do check out bank wise list of Miss call numbers for miss call banking and to check bank balance. All the major banks link state bank of India, bank of Baroda, Punjab national bank, Axis bank, HDFC Bank, ICICI Bank etc provides miss call balance checking facility.

Check Bank Account Balance via Miss Call Banking Toll Free Numbers

Miss Call Banking
Since after RBI has announced ATM transaction charges and reduced free ATM transactions, Account holders of different bank are to confused about how to check the Bank balance of their A/C. Since for extra ATM Charges, Bank’s charges RS.20 per transaction, it is quite costly to check bank balance. So, here is a way to check your bank balance for free of cost.

What is Miss Call banking and How to use it?

Miss call banking is where you provided a number from bank to check your bank balance. By miss calling on that number from registered mobile number or sending prefix of SMS, you can check your account balance within minutes.

Below you can find bank wise numbers of Miss Call banking, how to use it and where to send SMS. Since it’s a miss call service, when you call on that number, your call will be automatically will be disconnected and you will receive your bank balance in SMS form. Or if you don’t want to miss call, you can send sms and try to check your bank balance.

Apart from Balance inquiry, you can also get mini statement of your bank account. You will get last 6 transactions of your bank account. Do check out bank wise miss call banking numbers;

How to check Bank Balance of State Bank of India (SBI) Account by Miss call and SMS

To sbi account balance inquiry, SBI bank account holder needs to register first for Miss call banking facility. Just send a SMS “REG<>Your-Account-Number” and send it to 9223488888(Toll free). After that, dial 9223488888 from their registered mobile number to check account balance. Or SBI customers can SMS “BAL” and send it to 9223488888.

How to check Bank Balance of Punjab National Bank (PNB) Account by Miss Call and SMS

For first time customers who are trying miss call banking service with PNB Bank, they have to register their mobile number to bank’s server. For that Just send call Punjab national bank’s customer care at 18001802222 or you can also dial 01202490000.

After registering, you will be provided separate number to use miss call banking service, which you can use it.

How to check Bank Balance of Bank of Baroda (BOB) Account by Miss Call and SMS

Bank of Baroda Bank’s account holder needs to miss call at 09223011311 to check their account balance from registered mobile number. Just dial it and your call will be disconnected automatically and you will receive Account balance via SMS.

How to check Bank Balance of HDFC Bank Account by Miss call and SMS

HDFC Bank customers need to call at “18002703333” to check their Bank balance via Miss call banking service. Or they can also SMS “BAL” and send it to 5676712 to get account balance information. To get Mini statement (last 6 transactions of your account) SMS “TXN” and send it to 5676712.

How to check Bank Balance of Axis Bank Account by Miss call and SMS

Axis Bank’s Miss call banking Services Number is 09225892258, where they need to drop a call and account holder will receive account balance on mobile phone via SMS.

How to check Bank Balance of ICICI Bank Account by Miss call and SMS

ICICI Bank has 2 numbers for Miss call banking service which gives account balance information. To get Account Bank Balance, Dial 02230256767 and drop a call there, you will receive bank balance in 2 minutes. If you want to send SMS, than send a SMS with “IBAL<>Last-6-digit-of-your-a/c-number” and send it to 9215676766.

How to check Bank Balance of Bank of Maharashtra Account by Miss call and SMS

As of now, Bank of Maharashtra has not joined the Miss Call Banking facility. But if you are Bank of Maharashtra account holder, you can still use their phone banking service. For that you need to visit your nearest Bank of Maharashtra Branch and register your self with Phone banking, in which bank will provide you new TPIN. After that dial 1802334526 and follow IVR system, you can get your Bank Balance.

Or If you want to use SMS Banking, you can SMS “BALAVL<>Your-account-number<>MPIN” and send it to 997549499 to get your bank balance.

How to check Bank Balance of CANARA Bank Account by Miss call and SMS

Canara Bank account holder needs to miss call at 09289292892 from your registered mobile number where you can your account information in SMS form.

How to check Bank Balance of Bank of India Account by Miss Call and SMS

To check Bank Balance of Bank of India Account, Customer of Bank Of india needs to miss call at 09015135135, within first ring only, you call will be disconnected and you will get bank balance in SMS.

For all other Bank including Allahabad, central Bank of india, uco bank, IDBI Bank, Union Bank, Andhra Bank, Kotal Mahindra, Oriental Bank of Commerce, Karnataka Bank, Dhanlaxmi , Syndicate Bank, Yes Bank, Vijaya bank United Bank and all other bank, you can check Miss call banking numbers below.

Bank Wise Miss call banking numbers

Bank Name For Account Balance For Mini Statement
Allahabad Bank 09224150150 09224150150
Central Bank Of India (CBI) 09222250000/
UCO Bank 09278792787 09213125125
IDBI Bank 02230256767 02230256868
Union Bank Of India 09223009292
Andhra Bank 09223011300
Kotak Mahindra Bank 1800-274-0110
Oriental Bank of Commerce (OBC) 9915622622
Syndicate Bank 09241442255/
YES Bank 09840909000
Dena Bank 09289356677 09289356677
Vijaya Bank 18002665555
United Bank 9223173933
Indian Bank 9444394443
Citi Bank 9880752484 9880752484
Bandhan Bank 1800-258-8181
Dhanlaxmi Bank 08067747700 8067747711
Bhartiya Mahila Bank 09212438888

For more updates or information on Miss call banking, keep visiting us, India Shine.

Tuesday, May 3, 2016

[Download] Sample WILL Format - How to Write WILL (Template)

By No comments:
Looking for Will Format (Sample WILL Template)? Here we are providing you some sample template, sample Will format which can be drafted as Wills to decide estate planning. Starting from What is Will, how many witnesses we need, online will (e-will) Provider list and process to register e-will, we include everything on this post about wills. 

[Download] Sample WILL Format - How to Write WILL (Template)

Sample WILL Format
What is Will and why we need to prepare Will?
Will is (in simple word) Estate planning about who will receive what after you die. What will happen to your property, will your son/wife/daughter receive any share from your property or not, to clarify things in advance is called Estate planning. 

When people write it down on a legal paper about their estate planning, that legal paper is called will. Will can be on stamp paper or any other paper which have your signature and instructions. Most of people (mostly big billionaires) draft their will in advance and hand over it to their trusted person or legal advisor, and after person’s death, the will opened and estates are distributed/allocated as per the will.

Why we need to draft Will? Because, if the will is not drafted, it can be a lengthy legal process to decide person’s estate. For example Dhirubhai Ambani (father of Mukesh Ambani), Picasso, Abraham Lincon are great examples who didn’t prepared will and their child fought legal betel for their property.

So, for Smooth transfer of your will, to avoid legal battles between your children’s, to take control of your assets, it’s important to Draft Will.

How much it cost to prepare / Draft a will?
The Will preparation process is not as difficult as we assume. Mostly people call their lawyer and prepare their will. In that process, Lawyer in india may charge up to Rs.15-20k to draft will. (Now online e-will can be done on less than that).

How to Write Will? (Things to mention in WILL)

While you declaring or drafting your will, you need to mention some important things about your will, below we have mentioned some of the important things which need to be mentioned (for better clarity) at the time of drafting will. Do check it and mention things without forgetting.
  • Your personal Details: - It is necessary to mention your full name (including your father name), your date of birth, and your permanent address. your draft will must start with your personal details.
  • Date of declaration: - Do mention clearly the date your are drafting your Will. So, it can be helpful to validate it.
  • Validate free Will: - Mention clearly in starting of draft will that you are not under influence of any person or situation and you are preparing will as per your wish.
  • Name of the executor: - It is necessary to mention the name of executor who will execute your will as per your instructions. Provide full name, address, and contact details of the executor.
  • Details of your Assets and Beneficiaries of assets: - You must need to mention that which property/assets and their Beneficiaries after your death.
  • Signature: - Your signature at the end of your drafted will with date of writing.
  • Signature of witness: - You must have signature of 2 witnesses on your Will. Your witnesses must sign below will with full name and address.

Download Sample Will Format in PDF/DOC Format

Here we are providing the 2 sample will format which will help you to draft your will. These sample draft template is available in PDF as well as in Document format.
  • Click here to download Will Format (Will Template) in PDF
  • Click here to download Will Format (Will Template) in document format.

About Online Will - E-WlLL

As we mentioned above, now you no longer need to depend on lawyer and pay them high fees. Blow is mentioned list of portals which provide E-WILL service at Rs.4000/- only. Yes, its almost 80% cheaper than lawyer’s fees. Do check out online will drafting service.
  • HDFC Securities
As of now we have 4 will service provide who provide you will drafting and all other service related to will. In second article of Will, we will discuss in detail about how to prepare will online.

Thursday, April 21, 2016

FASTag E-TOLL is Live Now - Benefits and How to Use FASTag for eToll

By No comments:
The Dream Comes True. FASTag eToll is now live at 275 toll plazas of National highways of india. People who are crossing any toll plazas are must be aware of this fact that how much time they waste on long queue of Toll plaza every day. So, to give solution to this big problem, Union Ministry of Road Transport & Highways and Shipping has announced implementing E-Toll on 275 toll plazas of national highways.

FASTag E-TOLL is Live Now - Benefits and How to Use FASTag for eToll

FASTag E-TOLL is Live Now
One the first phase, 275 out of 350 toll plaza of india go live with E-Toll facility on 25th April, 2016. Car owners who used to pass any toll plaza will get benefit of this facility. Below is detail explanation of FASTag, how to use E-Toll, how it works, benefit of e-Toll and from where to buy FASTag.

What is FASTag?

FASTag is kind of sticker which will be put on car or vehicle’s windscreen which uses Radio-frequency Identification (RFID) technology. Using RFID technology, sensors of toll plaza will identify your vehicle and deduct the amount automatically from your account. You can buy FASTag for your vehicle from ICICI Bank and AXIS Bank only (As of now, more bank will be brought under it soon).

So, now toll plaza which supports FASTag will have different lane where they can drive without stop and you will be charged on the basis of your trip.  

How to buy FASTag?

You can buy FASTag for e-toll facility from the toll plaza which supports it or you can buy it online from ICICI Bank portal or Axis bank portal (for both portal, you need to have account with both banks). You will be charged Rs.200 for basic fastag tag charge and you can recharge it with Rs.100 of multiple (up to Rs.1lac).

Charges for FASTag for each vehicle

Below is list of Charges applicable on FASTag for each vehicle type. Check out and buy your FASTag vehicle tag;

Note :- For recharge and buying online, you will be charged with NEFT/RTGS charges which ever applicable.

What kind of Documents needed to buy FASTag?

You can produce Driving License/ PAN Card/ Passport/ Voter ID Card/ Aadhar Card as your ID Proof and buy FASTag. For corporate vehicles, Public Ltd./ Private Ltd./ Partnership registration form/PAN Card of the corporate/ Photo ID is needed.

Can we Buy monthly Passes via FASTag? 

Yes, you can. For that please call @ 1860-267-0104. Which is toll free number helpline of FASTag? You can sms ITOLL(Space)Pincode(Space)Name to 5676766 to know about monthly passes and your nearest FASTag toll plaza.

Instructions for How to use FASTag

First you need to buy FASTag, and put it on your windscreen of car or vehicle. You will see “FASTag Lanes “on selected toll plaza where FASTag. At FASTag Toll plaza, drivers need to drive at 25-70 km/hr speed, at this speed RFID tag will scan your car’s FASTag from long distance and will signal green and you can move your vehicle without stopping.

Benefits of using FASTag (E-Toll)

  • SAVE Time and Fuel
  • FASTag will allow you to move toll plaza smoothly and it will save your fuel, time and money too.
  • You will receive SMS on each transaction which will inform you about amount deducted and amount left on your account.
  • You can do online recharge of your FASTag using Credit cards, debit cards, NEFT, RTGS or net banking. Also you can recharge via web portals of FASTag.
  • Cash less smooth transactions.
  • SAVE Money: - you can save money as government is giving 10% cash back on promotion of FASTag.
  • It will save Rs.60,000cr of central government.
So, are you exited to use FASTag? Wish more and more people start using FASTag e-Toll and reduce traffic burden at toll plazas.

Wednesday, April 20, 2016

PGVCL Online Bill Payment -

By No comments: - If you are using PGVCL for electricity than no need to pay electricity bills in long queue. Using PGVCL online collection tool, one can Pay PGVCL Electricity Bill online. Under Gujarat Electricity Board (GEB), Paschim Gujarat Vij Company Ltd provides electricity to west side (saurashtra) of Gujarat State. Under PGVCL, 12 district of west Gujarat, namely Rajkot, Jamnagar, Junagadh, Porbandar, Bhuj, Bhavnagar, Surendranagar, Amreli, Botad, Morbi, Devbhumi Dwarka and Gir Somanath are feeded with 24*7 electricity.

PGVCL Online Bill Payment -

PGVCL Online Bill Payment
PGVCL covers 45 division, 240 sub division, and having 13260 employees under them which provides good service to all the 12 district under PGVCL. With approx 51 lac household of west gujarat are provided electricity by PGVCL, they have huge customer base who are looking for the online bill payment of PGVCL.

PGVCL provide 2 month bill cycle, customer will get electricity bill at every 2 months of subscription. And now this electricity bill can be paid online. Below is tutorial for how to pay electricity bill of PGVCL Online and save time and money.

How to Make PGVCL Online Bill Payment ?

The Online payment facility of PGVCL Bill is started 3 year. The company has incorporated on 15th September, 2003. Below is steps to pay PGVCL bill online;

1. Go to official website of PGVCL or you can just follow this direct link to payment of PGVCL.

2. Enter your Consumer no, (e.g. LT - 99911122233) after adding consumer no, it will automatically generate your bill amount for last month.

3. Enter Your Email Address to where you will receive payment receipt.

4. Click on "Submit" and you will be redirected to Bill desk portal where you want to pay your bill amount via available options.

5. After successfully completion of payment process, you will receive payment receipt of online bill payment.

Online Bill payment fees

Yes, the online bill payment of PGVCL is not free. you need to pay below mentioned extra charges at the time of bill payment.

1. You will be charged 1% of bill amount if you are paying via Credit cards and service tax additional (minimum Rs.5)

2. If you are paying via Debit card, you will be charged 0.75% of your bill payment, for bill amount of Rs.2000 or less. For Bill amount more than Rs.2000, you will be charged 1% extra (plus service tax).

Other modes of Online Bill Payment

Customer of PGVCL can pay electricity bill online via or who are providing free service to pay online bill. Also, one can pay electricity bills via their net banking a/c. Major banks like HDFC, Axis, ICICI, SBI provides bill payment facility from their net banking portals.

Benefits of paying Electricity bill online
  • Save timing
  • Save money
  • Easy to access
  • Easy to manage payment receipt
  • Eco friendly 
Apart from this, soon all these portal of bill payment to come under single portal of RBI (reserve bank of India) "Bharat Bill Payments System". If you have any query or want to register new complain, you can call PGVCL at 1800-233-155333 customer care number of PGVCL.
Powered by Blogger.