Personal Finance

Moneyalerts: Benchmarking diamonds

| Updated on April 30, 2011 Published on April 30, 2011

Ever wished for a benchmark for diamond prices? Well, wishes aren't horses any more in this case. The All India Gems and Jewellery Federation and the International Diamond Exchange (IDEX) have together launched a Diamond Retail Benchmark Index for Indian consumers. Prevailing prices of polished diamonds can be gauged, for any number of combinations of the 4Cs – cut, colour, clarity and carat. Clarity on diamond prices means that you no longer have to take the word of your jeweller on polished diamond rates. The index is accessible at www.idexindiaretail.com/pages/diamondretailbenchmark.php. The daily prices of polished diamonds can be got, in both rupee and USD terms.

New ITR Forms notified

With the tax-paying season fast approaching, the income tax return forms relevant for the assessment year 2011-12 have been notified. Prominent among the changes are new returns named ‘Sahaj' and ‘Sugam'. Sahaj, the newly designed ITR-1 replaces the SARAL. This is for individuals having income from salary/ pension or income from one house property or income from other sources. Sugam (ITR-4S) is the redesigned form for those with presumptive business income. With simplified schedules, worksheet for computations and bar codes in every page, these two are the first technology-enabled forms in the country. As the entire tax return process is automated, refunds are expected to be quicker in these two cases. Put an end to your curiosity. Visit incometaxindia.gov.in to take a first look!

Baby? Pays to plan it late

Targeting newly-weds, the Star Health group has launched the ‘Star Wedding Gift' that will cover child birth related expenses (caesarean/normal delivery) and expenses on treatment of any congenital diseases of the child. The cover is however for the first delivery only and most importantly - it starts after three years from the purchase of the policy. Any claims before completion of 36 months under the policy will not be accepted! The policy has two options for sum assured- Rs 3 lakh and Rs 5 lakh. There are however sub-limits for delivery, pre and post natal expenses and for treatment of the new-born. Couples aged between 18 years and 40 years can avail this policy.

Cheaper travel at Mumbai airport

Air passengers departing from Mumbai have reason to be pleased as their travel bill will come down, at least for now. Domestic passengers will now pay Rs 100 less on their flight ticket while international passengers will save Rs 600. This was being paid by passengers from April 2009 as part of the airport development fee (ADF). The Supreme Court on Tuesday squashed an earlier Delhi High Court order allowing such levy. The airport could however levy this fee once again later, if it gets an order passed by the Airports Regulatory Authority of India.

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