Sir,
Post offices functioning in J&K have received instructions from their higher ups to charge service tax @ 10.5 % from all the holders of Postal Life Insurance Policies whenever they come to post office for depositing the monthly premium (already stands calculated) with effect from 1st November 2013, which is a big dent on the pockets of customers who are mostly Government / semi- Govt. employees and have never been told at the time of taking a policy from the PLI that this tax would also be payable by the customers in addition to the monthly premium calculated and conveyed in writing. Intention, of opening an account with PLI was to save something for the old age, after paying a small amount on monthly basis but this action of the authorities has completely broken the customers’ back bone who are shocked to hear that they would be finally put into a big loss at the maturity of thepolicy as this 10.5 % will not be coming back to them.
Authorities involved may very kindly reconsider the orders passed and withdraw such instructions so that those who are already included in the PLI schemes, could keep their policies alive and also more and more customers keep joining the PLI which is at present giving a good turnout of the savings to the postal authorities of India.
Yours etc…
J M Behl
Sainik Colony, Jammu
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