Get Similar Answers, Custom Writing & Assignment Help Services

To hire a writer, fill the order form in a few guided steps - with details from your paper's instructions.

Posted: February 28th, 2022

Fdi Norms, Foreign Participation in an Indian Insurance Company

As per the current (Mar 06) FDI norms, foreign participation in an Indian insurance company is restricted to 26. 0% of its equity / ordinary share capital. The Union Budget for fiscal 2005 had recommended that the ceiling on foreign holding be increased to 49. 0%. The government approved the much-awaited comprehensive Insurance Bill that seeks to raise foreign direct investment (FDI) cap in private sector to 49 per cent from 26 per cent. abc 4JVGh 7596 Insurance Market in India: Past-Present-Future pic2 pyYXW 7596
FDI Cap 49% from 26%: Impact on Indian Insurance Industry A higher foreign direct investment (FDI) will unshackle the insurance industry and drive growth and long-term development enrich the business by bringing world-class business practices and processes expand distribution capabilities and deepen market penetration. Over US$ 2 billion of foreign capital could flow into the country if the Government were to pass the Insurance Amendment Bill that raises the FDI limit. Scene 1: Change in waive service tax on micro insurance products
The growth of the rural insurance industry necessitates a waiver of the service tax, which currently stands at 10. 3 per cent, including education cess. This tax is detrimental to the growth of the rural insurance industry and insensitive to the plight of rural populace which lacks quality healthcare and is vulnerable to numerous perils, including illness, accidental death and disability, loss of property due to theft or fire, agricultural losses, and disasters of both the natural and man-made varieties.

Rural insurance has an enormous potential for growth and a service tax waiver will make micro insurance products more affordable for the rural populace, and will drive pan-India penetration of this market. Scene 2: Revision on Service tax on small transactions There is an urgent need to increase the threshold for the levy of service tax on policies. The present notification exempts small transactions involving premium of less than Rs 50 (except motor insurance) from the ambit of service tax.
The threshold limit of Rs 50 which was fixed in 1994 needs urgent revision. Small transactions involving premium up to Rs 1,000 should be exempt from service tax which will benefit the under-privileged sections of our society. Insurance premium for covering small and medium enterprise risks should be exempt from service tax. For other insurance products, we would like a reduction in the service tax by at least 3-4 per cent. Scene 3: Exempting personal insurance from service tax
There is an overwhelming demand across all players in the industry that individual health insurance policies should be totally exempt from service tax. Exemption of health insurance from the service tax will make health cover affordable and accessible for the layman. Consequently, cheaper health insurance will increase its pan-India penetration. Additional IT exemption for householders’ policies and concessional IT rates will give a fillip to home insurance and will also reduce the burden on the government in the event of catastrophes. Scene 4: Exemption for profit on sale of investments
To encourage general insurance players to be active participants in capital markets, there is a requirement for specific exemption from income-tax on profit on sale of investments. The issue of admissibility of UPR (unexpired premium reserves) as per IRDA regulations rather than as per Insurance Act only, for IT deductions. The UPR is at present restricted to the extent of limits specified in rule 6E of the Income Tax rules due to which insurance companies need to pay tax beyond their profit disclosed in their audited accounts. Hence, the UPR created as per IRDA regulations should be allowed as per rule 6E.

Order | Check Discount

Tags: Buy Cause And Effect Essay, Buy Compare And Contrast Essay, Buy Thesis Online, Case Study Writing Service, Nursing APA Assignment Help

Assignment Help For You!

Special Offer! Get 15-30% Off on Each Order!

Why Seek Our Custom Writing Services

Every Student Wants Quality and That’s What We Deliver

Graduate Essay Writers

Only the most qualified writers are selected to be a part of our research and editorial team, with each possessing specialized knowledge in specific subjects and a background in academic writing.

Affordable Prices

Our prices strike the perfect balance between affordability and quality. We offer student-friendly rates that are competitive within the industry, without compromising on our high writing service standards.

100% Plagiarism-Free

No AI/chatgpt use. We write all our papers from scratch thus 0% similarity index. We scan every final draft before submitting it to a customer.

How it works

When you decide to place an order with Nursing Study Bay, here is what happens:

Fill the Order Form

You will complete our order form, filling in all of the fields and giving us as much guidelines - instruction details as possible.

Assignment of Writer

We assess your order and pair it with a skilled writer who possesses the specific qualifications for that subject. They then start the research/writing from scratch.

Order in Progress and Delivery

You and the assigned expert writer have direct communication throughout the process. Upon receiving the final draft, you can either approve it or request revisions.

Giving us Feedback (and other options)

We seek to understand your experience. You can also review testimonials from other clients, from where you can select your preferred professional writer to assist with your homework assignments.

For Similar Answers, Custom Essay Writing & Assignment Help Services

Find an expert with a few clicks and guided steps, fill an order form for your nursing paper. We write AI-plagiarism free essays and research papers. Anytime!.

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
$0.00