Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
Foreign direct investment in insurance is permitted up to 100% under the automatic route, subject to approval and verification by IRDAI and compliance with the Insurance Act, 1938 and applicable insurance investment rules. The amendment replaces Schedule I entry F.8 to set sectoral caps and conditions for insurance companies, LIC and insurance intermediaries, including resident Indian citizen requirements for key management, pricing guidelines for further investment, disclosure obligations, and separate treatment for bank-promoted insurance companies. LIC remains subject to the Life Insurance Corporation Act, 1956 and the specified insurance investment conditions apply to it with necessary adaptation.
Foreign direct investment in insurance is permitted up to 100% under the automatic route, subject to approval and verification by IRDAI and compliance with the Insurance Act, 1938 and applicable insurance investment rules. The amendment replaces Schedule I entry F.8 to set sectoral caps and conditions for insurance companies, LIC and insurance intermediaries, including resident Indian citizen requirements for key management, pricing guidelines for further investment, disclosure obligations, and separate treatment for bank-promoted insurance companies. LIC remains subject to the Life Insurance Corporation Act, 1956 and the specified insurance investment conditions apply to it with necessary adaptation.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
