Refund Of Service Tax In Varishtha Pension Bima Yojana

Varishtha Pension Bima Yojana (Plan 828) was launched by Government of India o15/08/2014for person aged more than 60 years to provide a social security throughlifetimepension to senior citizens. Varishtha Pension Bima Yojana was sold andadministered by Life Insurance Corporation of India. From 15/08/2014 to 31/03/2015 service tax at the rate of 3.5% was collected from the customers on premium, which rangedfrom Rs. 2333 to Rs. 23333. In the Budget 2015 finance minister providedrelaxationofservice tax on Varishtha Pension Beema Yojana with effect from 01/04/2015..................MORE