Service tax on Health services may be rolled back

Posted: 08 Mar 2011 08:00 PM PST

The government is likely to withdraw the service tax imposed on healthcare services in the Union Budget for 2011-12 following a strong reaction from the public and the medical fraternity. "A review is on...The government is looking at a rollback," a finance ministry official said. Finance minister Pranab Mukherjee had proposed to levy a 10% service tax, with an abatement of 50%, on treatment...

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TERM PLANS SCORE OVER ULIPS AGAIN

Posted: 08 Mar 2011 03:25 AM PST

Term insurance products are back in favour with insurers. The cost of term plans has come down by 40-50 per cent over the past year. A year before, a term plan insurance for a cover of Rs 50 lakh for a person aged 25-30 years attracted a premuim of Rs 12,000. The average cost of such a plan is now Rs 6,500-7,000. A term insurance...

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