How can the Indian government enhance tax benefits and incentives for insurance companies as per the recent news
Insurers are looking to capitalize on tax benefits and incentives mentioned in the Union Budget.
- Introduction of tax incentives: The Indian government can consider offering tax incentives to insurance companies to encourage them to expand their services and reach more customers.
- Lower corporate tax rates: Reducing corporate tax rates for insurance companies can help increase their profitability and incentivize them to invest more in infrastructure and technology.
- Incentivizing digital adoption: Providing tax benefits to insurance companies that actively promote digital adoption among policyholders can help improve operational efficiency and customer experience.
- Promotion of insurance penetration: Offering tax deductions to individuals purchasing insurance policies can boost insurance penetration in the country and benefit insurance companies in the long run.
Answered
3 months ago