Composite Rate of Tax - Life Insurance Business

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....e tax on services provided by him under section 66B and rule 6(7A) OPTION A : Rate of tax as per section 66B, shall be @ 14% on the: [rule 6(7A)(i) of Service Tax Rules, 1994] i. Gross premium charged from a policy holder minus ii. Amount allocated for investment or savings Thus, tax at 14% of (i) - (ii) OPTION B: Composite Rate of tax will as follows: [rule 6(7A) of Service Tax Rules, 1....