Service tax exemption for bima yojana

The Centre has granted service tax exemption on the services of life insurance business provided under the Aam Aadmi Bima Yojana (AABY) and Janashree Bima Yojana (JBY). Launched in August 2007, the AABY covers death and disability insurance for the benefit of rural landless households.AABY provides for insurance of the head of the family or earning member of the family of rural landless households between the age of 18 and 59 years against natural death or accidental death and partial/permanent disability.