• Yes, please click here for payment.

• Alternatively, log into My Account >> Transact Online, select policy and proceed for payment.

Yes, payment can be made using an international Visa, MasterCard or American Express credit/debit card.

• Yes, auto debit or SI can be set up on any Visa, MasterCard or American Express credit cards issued in India. The same can also be set up on HDFC Bank debit cards. To do so, please click here and opt for "Quick Pay".

• Alternatively, log into My Account >> Transact Online, select policy and proceed for payment.

Yes, payment can be made via Net banking or NEFT/eCMS, UPI facility. For details on NEFT/eCMS, please click here

Auto debit or Standing Instructions (SI) can be set up only on HDFC and ICICI net banking accounts.

Yes, auto debit facility is available on NRE/NRO Account

• If the Claimant resides in Dubai, then claim documents can be submitted at our Dubai liaison office.

• Alternatively, the Claimant can send the physical documents by courier to the following address:
  
  Claims Department
  HDFC Life Insurance Company Limited
  5th Floor, ILFS Building, Plot No. C-22, G-Block, 
  Bandra-Kurla Complex, Bandra (E),
  Mumbai – 400 051
  India

No, the claim would be paid in Indian Rupees (INR) only.

• If the Claimant provides an NRE account number, then the cheque would be issued and dispatched to the communication address.
• A repatriation letter would be issued only if the premium towards the policy has been paid from an NRE Account. Proof of premium payment via NRE account needs to be submitted to enable us to issue a repatriation letter.

To decide the residential status of a person under Income-tax Act, 1961, there are certain basic, additional conditions and other criteria prescribed under section 6 of the Income-tax Act, 1961. Brief description of Section 6 of the Income-tax Act, 1961 is as follows:

A person resident in India if:-

1. His stay in India is for 182 days or more; or
2. He is present in India for 365 days or more during the four preceding Previous Years and 60 days or more in that relevant Previous Year.

If a person does not satisfy the conditions mentioned above, then he is automatically deemed to be a Non-Resident.

Whether a person (Payee) is a tax non-resident or not is to be decided by the person himself in consultation with his Chartered Accountant/personal tax advisor. The person himself/herself will have to confirm his/her tax residential status (i.e. whether he/she is a tax non-resident or not) by responding to certain questions which are included in the payout form itself basis which the TDS will be applied.

The effective tax rate for financial year April 1, 2018 to March 31, 2019 is 35.88% (i.e. basic tax rate of 30% plus surcharge of 15%, as further increased by applicable cesses of 4%) is applicable where the aggregate income (which is subject to deduction) of the non-resident individual is more than INR 1 crore. In cases where the aggregate income of the non-resident individual is more than INR 50 lakhs and less than or equal to INR 1 crore, then the effective rate of tax is 34.32% (i.e. basic tax rate of 30% plus surcharge of 10%, as further increased by applicable cesses of 4%).

In cases where the aggregate income of the non-resident individual is INR 50 lakhs or less, the effective tax rate would be 31.2% (i.e. basic tax rate of 30% plus applicable cesses of 4%) as surcharge of 10%/ 15% is not applicable in such cases. The INR 1 crore or 50 lakh income is based on the declaration made by the customer in the duly signed payout request form.

The tax rates stated above are subject to change every year basis the Finance Budget.

While calculating TDS rates, the provisions under Double Taxation Avoidance Agreement (‘DTAA’) for the relevant country, if any, need to be considered. In case, the Payee fulfils all the conditions as prescribed in the DTAA, then rates as per DTAA will apply. Generally, rates under DTAA will be lower than normal TDS rates.

Tax rates stated in the DTAA are subject to changes basis revision in the DTAA at given point in time.

No, there is no threshold limit to deduct TDS under section 195.

Double Taxation Avoidance Agreement (DTAA) is the agreement between two countries with an objective to avoid taxation on the same income in both countries. Presently, India has comprehensive DTAAs with more than 90 countries.

The Non-Resident deductee has to submit the following documents with us to avail the TDS rates as per DTAA:

1. Tax Residency Certificate (TRC), compulsory.
2. Self-declaration in Form 10F, compulsory.
3. PAN card copy (if any).
4. Passport copy and Visa copy (if any). The above documents need to be submitted every time an NRI customer requests for policy proceeds.

There is no format which has been specified for the purpose of issue of TRC. Each country may have a different format for issuing a TRC. However, the following details should be contained in a TRC, which is not an exhaustive list and would again depend on the TRC issuing authority:

1. Name of the Assessee
2. Tax residency status
3. which the TRC is valid
4. Nationality of the Assessee, etc.

There is a specific format of the Self-declaration in Form 10F (please refer to Annexure 1) which should contain the following details:

1. Name of the Assessee.
2. Status (individual, company, firm, etc.) of the Assessee.
3. Nationality (in case of individual).
4. Country or specified territory of incorporation or registration (in case of person other than individual).
5. Assessee’s Tax Identification Number (TIN) in the country or specified territory of residence or in case no such number, then, a unique number on the basis of which the person is identified by the Government of the country or the specified territory.
6. Period for which the certificate is valid and
7. Address of the Applicant in the country or specified territory outside India, for the period for which the certificate is valid.

Annexure 1 - Form 10F

Generally, most of the treaty countries provide for such relief to avoid double taxation. However, it is important to verify the specific language contained in the relevant DTAA before claiming such relief in consultation with your Chartered Accountant/personal tax advisor.

In that case, TDS will be deducted as per standard rates i.e. 31.2% or 34.32% or 35.88% as the case maybe.