- Thursday, December 3, 2009, 1:26
- Income Tax
- 6 views
The Insurance Regulatory and Development Authority (IRDA) has asked the Income-Tax Department and the Central Board of Direct Taxes (CBDT) to consider exemption of Third Party Administrators (TPAs) from Tax Deducted at Source (TDS). According to a recent CBDT circular, the TPAs would have to deduct 10 per cent of the amount as tax when making payments to hospitals on behalf of patients.
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- Saturday, November 28, 2009, 1:42
- Income Tax
- 3 views
SB Mathur, Secretary General of the Life Insurance Council, said either the proposal be changed to retain the present system of exempting a life insurance holder from tax at the time of withdrawal, or tax should be levied only on the real value of the withdrawn sum.
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- Saturday, October 31, 2009, 16:59
- GST
- 8 views
The Finance Minister, Mr Pranab Mukherjee, on Friday hinted at some slippage to the scheduled Goods and Services Tax (GST) system rollout by April 1, 2010. Introduction of the GST, billed as a flagship tax reform measure of the UPA Government, is considered crucial for attracting increased doses of domestic and foreign investments.
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- Tuesday, September 1, 2009, 2:30
- CA CS ICWA, Finance
- 0 views
The Institute of Chartered Accountants of India (ICAI) is likely to come out with insurance specific accounting standards in the next three months, a top official said. ”We are likely to come out with it (insurance sector accounting standards) in the next two-three months,” ICAI President, Uttam Prakash Agarwal, told.
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- Tuesday, July 28, 2009, 0:22
- Government Policy
- 11 views
Circular No: 20/IRDA/Actl/ULIP/09-10 Sub: Unit linked products – Cap on charges The Insurance Industry has introduced ULIPs which have found favour with insurance customers in India. These products prescribe certain charges which are deducted either from contributions or from the fund. In 2005, the IRDA had in its Circular No.032/IRDA/Actuary/DEC-2005 dated 21/12/2005 defined various charges [...]
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- Wednesday, May 13, 2009, 4:21
- CA CS ICWA, Finance
- 4 views
The accounting regulator the Institute of Chartered Accountants of India (ICAI) has constituted an expert group to suggest sector-specific accounting norms for insurance companies. The move aims at ensuring that financial statements of insurance firms reflect true natures of financial arrangements. ICAI president Uttam Prakash Agarwal confirmed the development. “ICAI is planning to come up [...]
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