Guidelines for charging Income-tax on life insurance policies

The new amendments state that any sum received under a life insurance policy issued on or after April 15, 2023, excluding unit-linked insurance policies, will not be exempt if the annual premium payable for any year during the policy’s term exceeds Rs 5,00,000.

National Nursing and Midwifery Commission
Act, 2023

The Act provides for regulation and maintenance of standards of education and services by nursing and midwifery professionals, assessment of institutions, maintenance of a National Register and State Registers and creation of a system to improve access, research and development and adoption of latest scientific advancement and for matters connected therewith or incidental thereto. This Act has come into force on 14th August, 2023.

Pharmacy (Amendment) Act, 2023

The Amendment Act inserts a new provision in the Pharmacy Act to allow the inclusions of pharmacists from Jammu and Kashmir. This Amendment Act was notified on 15th August, 2023.

Amendments in Bidding Documents for lnter-State Transmission Services

The Ministry noted that several private transmission developers had encountered challenges in meeting the technical requirements for bidding on HVDC systems via the TBCB route, specifically related to the qualifying criterion regarding the aggregate capital cost of projects and aggregate payments received (CAPEX) to be fulfilled by the bidding company or lead member of the Bidding Consortium.