life insurance times

When the budget for 2006 was presented and passed, people in life insurance industry heaved a sigh of relief that there was no announcement about taxing the claim proceeds of life insurance policies (as well as PPF etc allowed for deduction u/s 80C) according the principle of EET (Exempt, Exempt and Tax) evolved in last budget, even though the EET committee appointed also is understood to have submitted a report in favour of taxing life insurance proceeds! Read more