| It provides tax-free investment growth but applies an exit tax of standard rate, plus 3 per cent on any gain realised on encashment. |
| The product has the attraction of not having early encashment charges, i.e. the investor can exit at any time at daily prices. |
| In the Main Estimates and in all other tables in this RPP, IFI expenditures are provided on an encashment basis. |
| Lower bank charges were due to fewer cash transfer charges and the lower requirement for encashment fees and services levied by the local banks. |
| The umbrella approach ensures flexibility, but incurs tax on all the investments in the portfolio on encashment, regardless of the number of funds being cashed in. |
| Under the new gross roll-up system, tax on investments must now be paid on the encashment of the policy, rather than on an annual basis. |
