CLAIM PROCESSING
Income tax return processing status: How much time it takes for tax department to process ITR
Processing of ITR: The income tax return (ITR) filing deadline for for the financial year 2023-24 (assessment year 2023-24) is July 31, 2024. It's crucial to file the ITR by the specified deadline to avoid penalties and late fees. Additionally, it's important to ensure that the Income Tax Department promptly processes the filed ITR.
NABARD partners with Online PSB Loans Ltd to digitalize Jan Suraksha Schemes for regional rural banks
National Bank for Agriculture and Rural Development (NABARD) and Online PSB Loans Limited have signed an agreement to promote financial inclusion through regional rural banks. The collaboration seeks to smoothen the process of enrolment and claim settlement under the Jan Suraksha Schemes for all 43 Regional Rural Banks (RRBs) onboarded on one platform through the JanSuraksha Portal.
Former New York City Mayor Rudy Giuliani disbarred from New York for Trump's false 2020 election claims
Former New York Mayor Rudy Giuliani has been disbarred for his involvement in Donald Trump’s 2020 election interference, the New York State appellate court ruled. The disbarment, effective immediately, comes as Giuliani faces bankruptcy due to a USD 150 million defamation case and multiple lawsuits. The court cited Giuliani’s false statements and misconduct, highlighting his role in undermining the electoral process. Giuliani has vowed to appeal the decision, calling it politically motivated and corrupt.
How to claim income tax refund online when filing ITR for FY 2023-24
How to claim income tax refund online: You may be eligible for a tax refund if you have paid more taxes than you owe. You can claim the refund when filing your income tax return (ITR) by the deadline of July 31, 2024 for FY 2023-24 (AY 2024-25).
I am legally separated from my husband. Do I have right to wedding jewellery and gifts received as streedhan?
Readers estate planning queries answered.
Nearly 70% health claim users opting for reimbursement mode don't have enough liquid savings to pay bills: Survey
A recent study highlighted challenges faced by health insurance policyholders opting for reimbursement, often resorting to borrowing or dipping into savings for medical bills. Despite expanded coverage, 68% lacked adequate savings for expenses. Cashless treatment remains preferred, with 89% satisfaction, compared to 79% for reimbursements. Delays post-discharge also impact satisfaction.
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Is your medical claim stuck? Find out why you face problems in health insurance claim settlement and how to avoid them
While health insurers can sometimes be blamed putting customers through unending hardship in clearing claims, many a times it’s the policyholder who is at fault. A significant portion of these health insurance claim rejections can be prevented by asking the right questions during policy selection, carefully reviewing policy documents, and conducting thorough research. This article explores common health insurance claim rejection scenarios and explains how to avoid them.
6 questions to ask while buying a health insurance policy to avoid claim rejections later
How to buy the right health insurance policy that will pay for your claims on time? You can avert claim rejections by asking the important questions at the time of buying health insurance and reading the policy details and fine print carefully. Ask these questions while purchasing a health plan or at the time of filling a proposal form.
DICGC lags global peers in processing claims: Michael Patra
DICGC takes about a month or more to reimburse deposits when a bank collapses, while the International Association of Deposit Insurers (IADI) is moving towards reimbursement within seven days from 14 days now, Patra said in his keynote speech at the IADI executive committee meeting in Rome.
EPFO made these four major changes to the EPF account, claims process
Recently, the Employees' Provident Fund Organisation (EPFO) has relaxed several regulations to make life easier for Employees' Provident Fund (EPF) members. While, it has also withdrawn one of the benefits offered before.
Labour Secretary Sumita Dawra chairs review meeting on EPFO reforms
Labour & Employment Secretary Sumita Dawra praised the EPFO's automation of claim settlements to reduce rejections, as per an official statement. In a review meeting, she emphasized the need for close coordination among officials to enhance social security. The EPFO's reforms aim for faster claim settlements and streamlined processes, significantly improving efficiency.
EPFO undertakes multiple systemic reforms to enhance ease of doing business; improve ease of living
EPFO rules: At a review meeting, chaired by labour secretary Sumita Dawra, EPFO said the number of auto transfers generated by the retirement fund body has increased threefold from two lakh in April 2024 to six lakh in May 2024 while more than 25 lakh advance claims have been settled on auto mode.
New EPF account rules in May: EPFO made these four major changes to the EPF account, claims process in May 2024
New EPF rules: The changes include an extended facility of auto-settlement, multi-location claim settlement, faster New rule for EPF death claim. Let us take a closer at each of these four changes.
NHCX, a single portal for all health insurance claims soon: what is the claims process, benefits to policyholders
The digital platform, to be launched in 2-3 months, will speed up and standardise claim settlement process, leading to cost benefits for the insured.
One portal for all health insurance claims: How claim settlement process will change with NHCX
NHCX is a digital platform developed by the National Health Authority and Union Ministry of Health and Family Welfare as part of the Ayushman Bharat Digital Mission. It is being created on the recommendation of the joint working group of the Insurance Regulatory and Development Authority of India (Irdai) and NHA.It brings all the players involved in the claim process, including payers and providers, to one place. Irdai has urged all the players to onboard the platform, and many have already done (Text by Riju Mehta/ET Bureau).
Unclaimed shares moved to IEPF, a govt fund? Here's a step-by-step guide on how to get back shares
Unclaimed shares: If you have found that your shares have been transferred to Investor Education and Protection Fund (IEPF) then do not worry. You can get these shares back from the IEPF Authority by filling up the online IEPF-5 e-form. However before filing up thise-form you need to know certain important aspects like entitlement letter. Read here to know more.
Cashless claims to be cleared in 3 hours
Irdai has also mandated the insurer to decide on the cashless authorisation within one hour of receipt of the request.
Health insurance premiums can be reduced if you don’t make a claim, policy cancellations to be less costly and more: 5 rule changes
Health insurance rule changes: To make health insurance policy more inclusive, flexible and customer-friendly, IRDAI has recently released a master circular on health insurance business. The regulator introduces new measures regarding cancellation charges, standardising no-claim bonus, and increasing claim settlement transparency. ET Wealth Online explores how these regulations empower policyholders and improve their health insurance experience.
Why has Quant Large Cap fund been an outperformer? Shweta Rajani answers
I will highlight two-three points over here. One is definitely a size advantage that a Quant would have, so I am talking about a thousand crore fund versus a 35,000 crore fund, so that helps in the agility of the fund manager to actively manage.
Improvement in tech, backend processes & team strength needed to achieve IRDA objective: Shweta Rajani
It is welcoming move what IRDA has done because it now means that one within three hours in a normal case the insurance company has to authorize the entire documentation and the claim approval has to go through, not only that they are also emphasising that there should be a 100% claim and any claim rejection by the insurance company would internally need internal explanations and approvals.
Health insurance claim rule change: Cashless claims must be cleared in 3 hours; insurer to pay hospital charges for delay in discharge, says IRDAI
Health insurance: The Insurance Regulatory and Development Authority of India (IRDAI) has released a master circular to streamline health insurance claim process. Previously, delays in claim approvals forced patients to stay in hospitals longer. Now, insurers have three hours to approve cashless discharge requests. Additionally, insurers will be liable for extra hospital charges due to delays.
IRDAI in favour of 100% cashless claim settlement in health
In terms of cashless claims, the regulator wants insurers to decide on authorisation requests within one hour of receipt. It has directed insurance companies to put in place necessary systems and procedures to meet the new guidelines by July 31, 2024.
New EPF rules: EPFO relaxes mandatory uploading of cheque leaf image, attested bank passbook for these cases
EPFO eases the requirement to upload image of a cheque leaf and an attested bank passbook. This move will help to expedite the settlement of claims filed online and reduce the number of claims that are rejected
Raut slams EC over slow voting pace in Maharashtra, claims poll panel 'extended branch of BJP'
Shiv Sena (UBT) leader Sanjay Raut accused the Election Commission of favoring BJP in Maharashtra's Lok Sabha polls. He alleged slow voting in areas favorable to Maha Vikas Aghadi (MVA) like Thane and Kalyan.
New rule for EPF death claim: Now physical claims can be processed without seeding Aadhaar
EPF death claim: The EPFO stated that it has received specific references from field offices indicating that they are unable to seed and authenticate Aadhaar in cases of death of EPF members. Note that Aadhaar details cannot be updated or corrected after a member passes away, which presents challenges for the field offices.
Faster EPF claim settlement: EPFO multi-location claim settlement to speed up member claims
Faster EPF claim settlement: By allowing for multi-location claim settlement, this feature will speed up member claims processing and replace the current geographical jurisdiction structure along with productivity in offices nationwide.
LS polls: PDP candidate Waheed Para makes big claim, says violence in J-K "reduced in last 5 years"
Urging people across the UT to "come out and vote" in big numbers, the PDP candidate said, "It has been five years (since the 2019 general elections). Hence I would urge people to come out in large numbers and elect their representative in the Lok Sabha."
Health Insurance Claim: 43% policyholders faced difficulties, some had to wait an extra day at hospital, survey
Health Insurance claim: Many people in India are facing difficulties in getting their health insurance claim processed. "43% health insurance policyholders who filed a claim in the last three years struggled with getting it processed," as per a report by LocalCircles.
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