Exemption for life insurance narrowed: only postal life-insurance under postal rules and PMJJBY remain exempt. The amendment substitutes the exemption text in Schedule I, article 47, division D of the Indian Stamp Act, 1899 to limit exempted life-insurance policies to (a) policies under Postal Life-Insurance issued in accordance with postal rules, and (b) policies under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
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Exemption for life insurance narrowed: only postal life-insurance under postal rules and PMJJBY remain exempt.
The amendment substitutes the exemption text in Schedule I, article 47, division D of the Indian Stamp Act, 1899 to limit exempted life-insurance policies to (a) policies under Postal Life-Insurance issued in accordance with postal rules, and (b) policies under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
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