About Me

My photo
Trichy, Tamil Nadu, India
Working as an Assistant in LIC of India, Rockfort BO, Trichy, TN. Having a strong belief that LIC's welfare is our welfare and always trying to work towards that. Also functioning as an office bearer of AIIEA Thanjavur Division.

Wednesday, December 30, 2015

Refund of Service tax in Varishtha pension Bima yojana

Source: InsuranceBlog

"LIC of India has made the provision for ONE TIME Refund of Service Tax under Varishtha Pension Bima Yojana (Plan 828) policies, issued from 14/8/2014 to 31/03/2015"

Varishtha Pension Bima Yojana (Plan 828) was launched by Government of India on 15/08/2014 for person aged more than 60 years to provide a social security through lifetime pension to senior citizens. Varishtha Pension Bima Yojana was sold and administered 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 ranged from Rs. 2333 to Rs. 23333. In the Budget 2015 finance minister provided relaxation of service tax on Varishtha Pension Beema Yojana with effect from 01/04/2015.

Recently government of India issued a notification for the refund of service tax collected on Varishtha Pension Beema Yojana. And following the government’s directive LIC of India has issued the circular regarding the refund of service tax on varishtha pension bima yojana.

How the customer will get the

Sunday, September 6, 2015

LIC enters Diamond Jubilee Year!

Designed by: Arivukkadal

Friday, September 4, 2015

Rs.161.75 Crore profit in one day

Source: The Financial Express
IOC share jumped 4.36% in volatile trade on Tuesday, reflecting a mark-to-market gain of Rs 161.75 crore on LIC’s investment.

Life Insurance Corporation (LIC) of India acquired a “substantial” quantum of shares in the Indian Oil Corporation (IOC) offering on Monday, valuing the investment in the state-owned refiner at Rs 8,077 crore, showed stock exchange disclosures.
The insurance behemoth purchased 20.87 crore shares, representing an 8.59% stake, in the secondary market offering that saw lukewarm response from foreign institutions and retail investors amid a rout in global equities. LIC’s stake in IOC will now rise to 11.11% from 2.52% earlier.
After the stake sale, the government’s stake sale drops to 58.57%. The government sold 10% of the equity capital of the oil refiner at a floor price of Rs 387 per share, mopping up more than

Profile of LIC - 2015