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<a href="http://www.accessmylibrary.com/coms2/summary_0286-19195281_ITM" title="Facts and information about SOLVENCY FUNDS' TAX TO HIT PVT INSURANCE COS (Income-Tax Department asks Life Insurance Corporation to deposit Rs2,000 crore).">SOLVENCY FUNDS' TAX TO HIT PVT INSURANCE COS (Income-Tax Department asks Life Insurance Corporation to deposit Rs2,000 crore).</a>
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SOLVENCY FUNDS' TAX TO HIT PVT INSURANCE COS (Income-Tax Department asks Life Insurance Corporation to deposit Rs2,000 crore).
(From India Business Insight)
The decision by the Government of India to tax funds set aside as reserves to meet solvency margin requirements prescribed by the Insurance Regulatory and Development Authority (IRDA) will affect private insurance companies. While the IRDA Act requires that companies should maintain 100 percent of their …
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