Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: VAT Audit :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: empanelment
 
 
Service Tax »
 A 5-Point Guide For Buyers To Understand The Effect Of GST On Real Estate
 Stalled unsorted diamond imports to resume after GST rate revision
 TDS, TCS deductors can apply for GST registration from 18 September
 E-commerce companies face tax heat as I-T department says discounts should be treated as capital spend
 Central Goods and Services Tax (Sixth Amendment) Rules, 2017
 GST will also impact direct tax collection
 Seeks to extend time period for filing of details in FORM GSTR-6 for months of July & August
 GST: Is input tax credit available for tax paid on mobiles given to staff?
 GST filing, reconciliation solution launched
  Finance Ministry asks taxmen to submit note on high-pitched assessments
 Step by Step Guide for GST Enrolment for existing Central Excise / Service Tax Assessees

Service tax on single premium annuity plan cut
March, 02nd 2016

Budget 2016 proposes to reduce service tax burden on single premium annuity plans. Called the Immediate Annuity plans in the insurance industry, the composition rate of service tax on single premium annuity (insurance) policies is proposed to be reduced from 3.5% to 1.4% of the premium charged. This will be in cases where the amount allocated for investment, or savings on behalf of policy holder is not intimated to the policy holder at the time of providing of service, with effect from 1st April, 2016. Effectively, returns in the hand of investor will be high.

These single premium annuity policies ask for a lump sum payment and then the insurer starts paying annuity (regular income) for lifetime. One may invest in such single premium annuity plans of most of the life insurers. They provide - Guaranteed income for as long as you/your partner lives, wide range of annuity options to cater to your diverse needs, flexibility to choose frequency of annuity from monthly/quarterly/half-yearly/annual options.

Also, when NPS matures, the annuity is to be provided by the life insurers through such annuity schemes. The NPS holder has to take the corpus to a life insurer and buy a single premium annuity scheme from any of them to start getting lifetime pension ( annuity) from them.

Also, it has been proposed that the service of life insurance business provided by way of annuity under the National Pension System regulated by Pension Fund Regulatory and Development Authority (PFRDA) of India be exempted from Service Tax with effect from 1st April, 2016.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software Development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions