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of <h1>Finance Bill 2021 amends Section 98, setting 0.001% tax rate on equity fund transactions with insurance firms.</h1> Clause 156 of the Finance Bill, 2021 proposes an amendment to section 98 of the Finance (No.2) Act, 2004. It introduces a new serial number 5A in the Table, specifying a 0.001% rate for the sale, surrender, or redemption of a unit of an equity-oriented fund to an insurance company. This applies to unit-linked insurance policies issued by such companies on or after February 1, 2021. The amendment is set to take effect retrospectively from February 1, 2021.
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