Revision in Premium Rates for Motor Third Party Insurance Covers for FY 2016-17 : IRDAI
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The Authority vide its order no. IRDA/NL/NTFN/MOTP/066/04/2011 dated 15th April 2011 notified that it would review and adjust the premium rates for motor third party insurance covers annually.
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Accordingly, an exposure draft on the Revision in Premium Rates for Motor Third Party Insurance covers for the financial year 2016-17 is issued. The same is attached herewith. All stakeholders are requested to review the attached exposure draft and forward their views / comments in the prescribed format (MS Word format) to the undersigned by e-mail at suresh [at] irda [dot] gov [dot] in and a copy marked to nmbehera [at] irda [dot] gov [dot] in.
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The comments/suggestions should reach the Authority by 20th March, 2016 in the format given below:
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(Suresh Mathur)
Senior Joint Director
Senior Joint Director
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FORMAT FOR SUGGESTIONS ON
Exposure Draft on Revision in Premium Rates for Motor Third Party Insurance Covers for the Financial Year 2016-17
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Change suggested by
(Name of Individual / Organisation)
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Address of the Individual/ Organisation
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Date
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Note
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1.    It is suggested that ONE Page may be used for one change.
2.   This will enable us to group all the suggestions and take a decision on the changes suggested
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Page No
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Point/ Para
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Subject Matter
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Comments/Suggestions
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Rationale for the comments/ suggestions
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 Signature
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- Income Tax notice by process server held invalid for non acknowledgement/endorsement
- No income tax is payable on compensation on land acquired under NHAI Act 1956
- Documents filed on the day when assessment order passed are not additional evidence
- Addition of bogus purchases deleted as opportunity of cross examination not given
- GST Registration to be granted automatically and electronically within 3 Working Days
