Taxability of various Insurance Plans for NRIs

Taxability of Insurance plans of NRI shall be governed by FATCA - US residents and CRS for the non-US residents. But TDS shall be applicable at the time of policy payout u/s 195 of the Act only if the policy is not exempt u/s 10(10D). Further, no tax will be deducted for countries where DTAA benefit is available as per section 90 of the of The Income Tax Act, 1961, and the customer has submitted complete & valid Form 10F and Tax residency certificate with the company.