https://www.taxtmi.com/acts?id=43597 The amendment reduces the tax deduction at source rate on payments under life insurance policies from five percent to two percent for sums payable to residents that are includible in total income; the payor remains responsible for deducting tax on amounts including bonuses but excluding amounts not includible under the statutory non taxable insurance provision, with the reduced rate effective from 1 October 2024. en-us Tue, 23 Jul 2024 15:49:37 +0530 Tue, 23 Jul 2024 15:49:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=43597 The amendment reduces the tax deduction at source rate on payments under life insurance policies from five percent to two percent for sums payable to residents that are includible in total income; the payor remains responsible for deducting tax on amounts including bonuses but excluding amounts not includible under the statutory non taxable insurance provision, with the reduced rate effective from 1 October 2024. Act-Rules Bills Tue, 23 Jul 2024 15:49:37 +0530 https://www.taxtmi.com/acts?id=43597