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Insurance & Pension: Unclear Tax Rules Will Destroy Your Returns

The write-up painstakingly ventured and given publicity , as read and understood, is seen to have dealt with at great length,  thereby bringing to focus, the  must-be-concern of the insured , including ‘pensioners’, in being put to a further erosion in the ‘insured value’, in the aftermath , and as a result, of the newly introduced  TDS Rules. The arena chosen for exposition of the worrisome angles is ‘moneylife’; hence, is mostly confined to the aspect of money loss.

To try and attempt to be somewhat explicit, the point in one’s mind is that there is yet another aspect, which must be of more concern to the impacted insured class. To give a useful clue, that is what is cryptically known and referred to in legal circles as ‘TDS Woes’.

The subject rules, as viewed, have prima facie every potential to add to such woes already being faced with by taxpayers, by reason of the extant rules on the statute , governing TDS requirements in regard to severally varying types of ‘payments’.

For knowing, if interested, the viewpoints shared in public domain, the posted material on certain other websites e.g. Taxguru.com, also shared on Facebook , could be of help and guidance.

A sum-up of which has been updated in personal blogs- ‘swamilook’ – to link > http://vswaminathan-swamilook.blogspot.in/2015/10/tds-woes-of-taxpayers-contd.html

As selected: 

“This is yet another case of insurers not being clear about what they should do.”

No wonder !; in fact, if viewed from a different perspective, insurers deserve every sympathy. For. after all, they have been perforce obligated to ‘cook somebody else’s goose’; in that the subject rules are those as framed by the Revenue; not by the insurers , selves.