- TG Team
- | Income Tax - News
- 28 Nov 2009
- 348 Views
- 0 comment
The Life Insurance Council has opposed a proposal in the Draft Direct Taxes Code which says policy holders be taxed at the time of withdrawal of insurance fund.
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a life insurance holder from tax at the time of withdrawal, or tax should be levied only on the real value of the withdrawn sum.
Constituted under the Insurance Act, the council is a forum that connects various stakeholders in the insurance sector.
Tags: Direct Tax Code, dtc
Kindly Refer to Privacy Policy & Complete Terms of Use and Disclaimer.
More Under Income Tax
Latest Posts
- Guidelines for PLI Scheme For Automobile & Auto Component Industry
- Telecom Reforms- Govt. Simplifies KYC processes
- Addition for Cash deposited in Bank out of Business receipts: Draft Submission
- Government Notifies PLI Scheme for Automobile & Auto components
- PLI Scheme for Automobile & Auto components Industry
- Master Direction – RBI (Transfer of Loan Exposures) Directions, 2021
- Clearing Corporation of India: latest updates
- September 2021 GST returns: Time to assess FY 2020-21 books of accounts from GST perspective
- CCI penalises beer companies for indulging into cartelisation
- CBIC notifies manner to issue duty credit under RoSCTL Scheme
Popular Posts
- Join Self-Learning Courses on GST, Customs & Income Tax
- Buy Latest GST Ready Reckoner by CA Raman Singla
- Challenge By Tax Bar Association to New Income Tax Portal System
- CA IPC/Intermediate July 2021 Exam Pass Percentage & Toppers
- Summary of 3 GST Circulars issued on 20.09.2021