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LIFE INSURANCE TAXABLE
GST on insurance premium: Why you may not get full benefit of GST reduction by 18% unless there's clarity on exemption vs nil-ratedStarting September 22, 2025, the GST on individual health and life insurance premiums will be slashed to zero. However, insurers are uncert...
Returns from ULIP investment to get tax treatment as capital asset in these conditions, clarifies Budget 2025Budget 2025: ULIPs to which exemption under clause (10D) of section 10 does not apply, is a capital asset and any profit and gains from the...
Income tax made easy: NRIs' complete guide to income tax filingSrishti, an NRI, discovered INR 20,000 TDS on her NRO account. Does she need to pay tax in India? Is filing income tax return mandatory? Ex...
Budget 2024: Payout should be tax free up to Rs 10 lakh premium on life insurance products, says Sumit Rai of Edelweiss TokioThe annuity double taxation is a big one because India is one of the largest grey countries and a part of the reason annuities are not doin...
Now, life insurance maturity money will not be fully tax-exempt: CBDT issues new tax rulesThe Central Board of Direct Taxes (CBDT) has issued guidelines on how tax exempt portion from life insurance policies will be calculated (b...
How to buy life insurance to maximise tax-free maturity amount after CBDT's new curbsThe Central Board of Direct Taxes (CBDT) has issued guidelines in August 2023 on how tax-exemption on maturity amount received from life in...
Maturity proceeds of life insurance policies with annual premium of over Rs 5 lakh to be taxed: FMAs per the Budget proposal, maturity proceeds of all life insurance policies (other than unit-linked insurance policies or ULIPs) that are ...
Budget 2023: Life insurance cos tank up to 11% on demand worriesShares of HDFC Life Insurance nosedived 12% to Rs 510.30, while SBI Life Insurance plunged 9% to Rs 1,119. The country’s largest life insur...
Life insurance proceeds taxable for premium over Rs 5 lakhCurrently, the maturity proceeds for all types of life insurance policies, which include death benefits, maturity benefits and accrued bonu...
Budget 2019 proposes 5% TDS for taxable life insurance proceeds on net income portionThe benefits are not extended to policies where the annual premium exceeds 10% (20% in case of policies sold prior to April 2012) of the su...
Can I file ITR based on payslips if there is no Form 16?Based on your income tax slab, you can compute your taxes, claim TDS and pay-off balance taxes, if any, and file your return of income.
How is life insurance money taxed?Proceeds received by the nominee on the death of the insured is tax free in the hands of the nominee.
What insurers anticipate from Arun Jaitley this budgetThe draft report of a committee suggests that life insurance companies pay income tax at corporate tax rates proposed at 25% as compared to...
Budget 2016: Lower TDS for life insurance proceedsFinance Minister Arun Jaitley did not announce big-ticket proposals for the life insurance sector, but he did dole out some minor tax relie...
- Are your company directors insured?
Firms purchase a life insurance policy on the key employees, pay the premium and are the beneficiary of the policy. Insurance policies to c...
- Understanding life & taxes attached to it
Loss of a dear one leaves a void that cannot be filled. The family besides being emotionally disturbed, is also at loss on financial front,...
- Non-life insurance firms may get full tax credit
The cost of non-life insurance policies may come down as the government is set to allow firms providing both taxable and exempt insurance s...