Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: articles on VAT and GST in India :: VAT Audit :: cpt :: ACCOUNTING STANDARD :: TDS :: VAT RATES :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4%
 
 
News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

Exempt micro-insurance from service tax: UN
June, 07th 2007

The government should exempt micro-insurance from payment of service tax to make products cheaper and encourage penetration of insurance services in low income rural and social sectors, a UN report has suggested.

"The service tax of 10.2 per cent on premiums adds to the price of insurance. To help keep premiums low for rural poor, government could consider waiver of service tax on micro-insurance products for a limited period," the UN Development Programme (UNDP) report said.

Micro-insurance sector has the potential to generate a business of two billion dollars (over Rs 8,000 crore) in the next two-three years in India, Anuradha K Rajivan, author of the report, 'Building security for the poor: Potential and prospects for micro-insurance in India', said.

The report suggested partnership of insurance companies with micro-finance institutions for providing such products to the rural populace according to their specific needs.

"Insurance products made for the urban populace cannot be suitable for their rural counterparts. They may need insurance for a single tree or insurance against snake-bite, the things that affect them more frequently and directly," Rajivan said.

The report suggested pooling of data between insurance companies and the government as building and sharing claims histories can help in aligning pricing decisions with actuarial calculations, thereby reducing price.

The report added an investment of 1.65 million dollars would be needed to develop the micro-insurance business and tap the growth potential.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

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