Players in the insurance sector are worried that the government may implement a Direct Taxes Code suggestion that suggests insurance cover offered be 20 times the premium paid, instead of the current 10-times, a move that will hurt profitability.
They also want a bigger tax deduction threshold under section 80-C to generate more demand for policies, something executive vice-president of Kotak Mahindra Old Mutual Life Insurance, Suresh Agarwal strongly supports.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
