Life insurance exemption extended to IFSC-issued policies without premium cap, improving parity for non-residents and clarifying scope. Exemption for amounts received under life insurance policies, including bonuses, will expressly apply to policies issued by IFSC insurance offices; the ... Summary
Life insurance exemption extended to IFSC-issued policies without premium cap, improving parity for non-residents and clarifying scope.
Exemption for amounts received under life insurance policies, including bonuses, will expressly apply to policies issued by IFSC insurance offices; the proposed amendment removes the existing premium-cap condition for IFSC-issued policies to provide parity for non-resident policyholders, while leaving other exemption conditions intact, effective 1 April 2025.
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