Monthly Archives

August 2012

The Concept & Advice on Health Insurance

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Mr. Gerard Colaco: Health/Medical insurance is compulsory for all. Life and property insurance are optional, to be taken only if you need them and to the extent that you need them.

This must be compulsorily taken for the whole family. It should be taken even if your employers provide you with a family cover.

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Foreign Banks & Financial Accounts (FBAR) – Filing Requirements

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Query: I have received a query from one of my NRI clients In the U.S. regarding the above subject. He says, he would have to disclose /pay tax in the USA on investments made in India. Since you have a sizeable number of clients based in the USA, I wanted to know if you have any details on this.

The link below sheds more light on the subject
http://www.irs.gov/businesses/small/article/0,,id=210244,00.html

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The Concept & Advice on Life Insurance

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Mr. Gerard Colaco: No insurance in the world is more wrongly sold than life insurance. We will discuss about whether you require it or not, later. First, let us have some ideas on insurance which are based upon the advice of some of the world’s best writers on financial planning, insurance and investment.

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SEBI’s Concept Paper on Regulation on Investment Advisors

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Query: Your feedback on SEBI’s Concept Paper on Regulation on Investment Advisors?

Mr. Gerard Colaco: My preliminary views are as follows. It was only a matter of time before investment advisers had to be regulated in India. There has been too much wrong advising and mis-selling. But what SEBI has not realised is that the main damage to investors is done by stock brokers and insurance agents, both of whom will escape the regulation on investment advisers.

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