Govt unlikely to roll back tax plan on high-value life insurance
The Indian government is unlikely to make changes to its budget proposal of taxing the total returns on high-value life insurance policies, two government officials said on Wednesday, amid demands by insurance companies to reconsider the move.
The government, presenting the 2023/24 budget on Feb. 1, said it would scrap the tax exemption on the total returns upon maturity of life insurance policies if their aggregate premium exceeded Rs 5,00,000 ($6,103).
The move, which will come ..
Read more at: ECONOMIC TIMES
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