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of <h1>New Tax Rate for Equity-Oriented Fund Transactions with Insurance Companies under Section 98, Finance Act, 2021</h1> Section 98 of the Finance (No.2) Act, 2004, as amended by the Finance Act, 2021, introduces a new entry in the Table after serial number 5. The new entry, 5A, pertains to the sale, surrender, or redemption of a unit of an equity-oriented fund to an insurance company. This applies to transactions on maturity or partial withdrawal concerning unit-linked insurance policies issued by such insurance companies on or after February 1, 2021. The amendment specifies a tax rate of 0.001 percent for sellers involved in these transactions.
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