SUBSCRIBE NEWSLETTER

Change Language

Insurance IRDA proposes changes in DTC, media reports

IRDA proposes changes in DTC, media reports

At the 14th Global Conference of Actuaries J Hari Narayan, IRDA Chairman reportedly stated that IRDA feels that certain provisions in the Direct Tax Code (DTC) are not in the best interest of the industry.

Team Cafemutual Feb 21, 2002

At the 14th Global Conference of Actuaries J. Hari Narayan, IRDA Chairman reportedly stated that IRDA feels that certain provisions in the Direct Tax Code (DTC) are not in the best interest of the industry.

According to DTC, only life insurance policies providing a sum assured of 20 times the annual premium are eligible for tax exemption; the current norm is 5 times. The IRDA has written to the government to revise it to 10 times the annual premium.There are certain repercussions of the above provision on other products as well. It renders fewer takers for retirement benefit products and makes endowment products unaffordable for older people.

Like what you are reading?

Login to get instant access to this article and many other such articles on business development, success stories and industry updates.

Don't worry ... it's FREE!

Have a query or a doubt?
Need a clarification or more information on an issue?
Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

Latest Articles

Which general insurers are brokers favorites?

Max Life is now Axis Max Life

Huge difference in claim settled and claim amount paid in non life industry

Govt. to appoint 2 lakh women agents through LIC India

Govt proposes stringent penalty on insurers and intermediaries for mis-selling

Soon, insurance agents can work with multiple insurers

Insurance industry to become Rs.930 lakh crore industry by 2047: BCG Group

Delay in commission payout and lack of transparency are two major pain points of insurance agents

Insurance industry to become Rs.930 lakh crore industry by 2047: BCG Group

Life insurers bats for same day commission payment to agents/intermediaries

Click to clap

Disclaimer: Cafemutual is an industry platform of mutual fund professionals. Our visitors are requested to maintain the decorum of the platform when expressing their thoughts and commenting on articles. Viewers are advised to refrain from making defamatory allegations against individuals. Those making abusive language or defamatory allegations will be blocked from accessing the web site.

0 Comment

Be the first to comment.

Login or Sign up to post comments.

More than 2,07,000 of your industry peers are staying on top of their game by receiving daily tips, ideas and articles on growth strategies. Join them and stay updated by subscribing to Cafemutual newsletters.

Fill in the below details or write to newsdesk@cafemutual.com and subscribe to Cafemutual Newsletter now.

POLL

As regards Portfolio Management Services (PMS), what is your status

Actively selling PMS

Not selling PMS but considering it seriously

Not selling PMS and not considering it either

EVENTS FORUMS

Cafemutual is an independent media platform and focuses on providing knowledge and information for the benefit of finance professionals. We do not promote any particular brand or asset category.

INSIDE CAFEMUTUAL

Advertise With Us

Editorial Policy

SOCIAL

SUBSCRIBE NEWSLETTER

NEWS

Thought Leadership Corner

News From Press

CLIENT MANAGEMENT

Business Development

RESOURCES

Empanelment Forms

MF FACTS & FIGURES

Fund Fact Sheets

KNOWLEDGE

Capability Building

MY RESEARCH DESK

Financial & SIP Calculators

Fund Performance & NAV

Success Stories

Youtube Channel

© Cafemutual.com. All rights reserved. Reproduction of news, articles, images, videos or any other content in whole or in part in any form or medium without express written permission of cafemutual.com is prohibited.

Powered by Barcode Design Studio