Insurance firms eye tax reliefs in upcoming Budget to boost penetration

Quick Summary:

The insurance regulator has set a vision of achieving insurance for all by 2047.

Under this section, a person can claim a deduction of up to Rs 25,000 for health insurance premium and expenses incurred towards medical expenses under the old tax regime.

Life insurance companies have called for tax deductions on annuity products as well as lower goods and services tax (GST) on their products.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Budget 2024 Tax refunds Insurance Sector Insurance companies

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-02 @ 17:33:16 (5 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 466 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21460371

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About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 98 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 3 hours ago

Coverage Areas: India

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News Language: English

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Publisher ID: #49

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