Enjoy tax benefits on your life insurance policy in India
As an NRI life insurance customer, you are eligible for tax* benefits on the premiums paid under section 80C and money received from your life insurance policies subject to section 10(10D)..
*Tax benefits are subject to conditions of Section 80C, 10(10D), 115BAC & other provisions of the Income Tax Act, 1961, and are subject to amendments made thereto from time to time.
Tax Center – FATCA/ CRS
Central Board of Direct Taxes (CBDT) has notified rules on due diligence, maintenance of information and reporting of the accounts regarding non-resident Indians who are covered under the Foreign Account Tax Compliance Act (FATCA-US person) or Common Reporting Standard (CRS)( Non-US person) on August 7, 2015.
Who is impacted by FATCA/CRS?
It is applicable to all the policyholders, where any of the following indicia is true:
Citizenship or tax residency outside India
Place of birth outside India
Mailing or residence address (including P.O.Box) outside India
Telephone number (residence or mobile) outside India
Standing instruction of transfer funds to an account domiciled outside India
Power of attorney or signatory authority granted to a person with address outside India
A "hold mail" instruction or "in-care-of" address in a jurisdiction outside India if the reporting financial institution does not have any other address on file for the account holder
What are the details required for submitting FATCA/CRS?
Following additional details will be mandatorily required at the time of account opening and at the time of renewals for pre-existing accounts as defined under FATCA/CRS, if not provided earlier. Same has been incorporated in the NRI questionnaire.
Country of Birth
Country of residence as per tax law
Tax Identification number (TIN)
Where can you find more detailed information on FATCA and CRS?
To update your FATCA/CRS details, click here
Get Answers To Common Tax-Related Queries
Can NRIs claim TDS refund?
What is the tax rate* for NRIs in India?
Do NRIs pay property tax in India?
Is basic exemption available to NRI?
Is TDS applicable on insurance payouts to NRIs?
Is PAN mandatory?
What is DTAA and how it can be useful for getting a TDS exemption?
Double Taxation Avoidance Agreement (DTAA) is signed by the governments of two nations to eliminate double taxation on the same income in both the countries. DTAA prescribes, the country in which the income earned from a foreign country will be taxable.