Insurance enterprise awaiting more tax incentives in Budget

Insurance enterprise awaiting more tax incentives in Budget

The insurance plan enterprise is expecting more tax incentives to enlarge the penetration of existence and typical cover amongst public in the upcoming Union Budget.

In a pre-budget memorandum, the Life Insurance Council has sought a separate deduction in non-public taxes or an increase in the present restrict for the top rate paid for person life policies.

Finance Minister Nirmala Sitharaman is scheduled to current the Budget for financial yr 2020-21 on February 1.

“We request Finance Minister to consider a separate deduction to be provided for top rate paid on individual life policies,” Life Insurance Council’s Secretary SN Bhattacharya said.