Section 40B of IA : Section 40B: Limitation Of Expenses Of Management In Life Insurance Business
IA
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Explanation using Example
Imagine a life insurance company, 'SecureLife', operates in India and is planning its budget for the upcoming financial year. According to Section 40B of The Insurance Act, 1938, 'SecureLife' must ensure that its expenses of management do not exceed the limit specified by the regulat...
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