Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
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.
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