Procedure to be followed by NRI’s to get exempted from paying service tax for LIC Policies
In order to get exemption from paying service tax for existing policies or new policies, following documents have to be submitted at the concerned branch office.
- Proof of residence that the policyholder was residing outside India (any one of the documents)(a)Attestation by Attorney/Indian Embassy affirming the place of residence (b)Rent/ownership agreement of the place of residence(c)Latest utility bills
- A self declaration stating that he/She is not a resident of India in that year
- Passport copy that reflects the trips to india in that year
If you want to download the original LIC circular of claiming Service Tax Exemption on Premium of LIC policies of NRI’s FNOI’s , download it by clicking here.
Download a free software to calculate the maturity value and other benefits of LIC policies
Download a software to calculate the revival amount of LIC policies
Calculate your Income Tax liability in few steps
- All about LIC’s New Critical Illness Benefit Rider - February 15, 2017
- Five myths of Indians about Insurance – which cannot be uprooted - March 8, 2016
- All about Income Tax rules applicable for Life Insurance policies. - February 20, 2016