Following life Insurance schemes are covered in Mega Exemption Notification and hence exempt

  1. Janashree Bima Yojana (JBY); or
  2. Aam Aadmi Bima Yojana (AABY)
  3. life micro-insurance product as approved by the Insurance Regulatory and Development Authority, having maximum amount of cover of  50,000
  4. Varishtha Pension Bima Yojna 
  5. Pradhan Mantri Jeevan Jyoti Bima Yojna 
  6. Pradhan Mantri Jan Dhan Yojna 
  7. Services of life insurance business provided by way of annuity under the NPS regulated by PFRDAI is now exempt   (New Amendment)

(PFRDAI :- Pension Fund Regulatory and Development Authority of India (PFRDA) under the Pension Fund Regulatory and Development Authority Act, 2013)

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.