Air Force Group Insurance Society , which is registered under the Societies Registration Act (XXI of 1860). It came into force wef 01 Nov 1975. The Society is established by Armed Forces of the Union (Air Force) for the welfare of the past and present members and their dependants.
The Registered Office of the Society is situated at Delhi and its present address is Air Force Group Insurance Society Bhawan, Subroto Park, New Delhi - 110 010.
AIR FORCE GROUP INSURANCE SOCIETY
AFGIS BHAWAN, SUBROTO PARK,
NEW DELHI - 110 010
E-Mail Address (Public Internet): firstname.lastname@example.org
FAX No. : 011-25691182
|PS to Principal Director||23307502
|PA to Secretary||WAC-5172||011-25694068||-|
|Enquiries and Reception||23307511||011-25683995
|Claims (Death/Disability/Final Withdrawal)
|IAF Social Security Deposit Scheme(IAFSSD)||-||7835063040|
|Loan Payments (HBL / MCL / PCL) Dept||-||7835063031|
|ECHS Bus Service||23307513||-|
|Loan Recovery (HBL/MCL/PCL)
Medical Insurance Scheme (MIS)
|Joint Director (Systems & Contribution)||Wg Cdr CP Gupte||23307525||011-25684572||7835063703|
|Joint Director (Finance)||Wg Cdr S Dasgupta||23307510||011-25695414||7835063704|
|Secretary||Gp Capt S Shankar||23307504
|Principal Director||Air Cmde NM Desai||23307500||011-25694415||-|
|ACAS (Accts & AV)||Member|
|Principal Director AFGIS||Member Secretary|
|Principal Director, AFGIS||Chairman|
|OIC AFRO Coord||Member|
|OIC Medical AFRO||Member|
|OIC Legal AFRO||Member|
|JD SDC, Dte of IT||Memer|
|JD Accts (NPF)||Member|
|JD (Fin), AFGIS||Member Secretary|
The objects, as stated in the memorandum of Association, are as follows:-
To Members. All contributions made by members towards life insurance are to be treated as insurance premium and would qualify for relief under Section 80C of Income Tax Act, 1961.
To the Society. All incomes received by the Society are eligible for exemption under the provisions of Section 10 (23) (c) (iv) and Section 10 (23 AA) of Income Tax Act, 1961.
On Interest Earnings. Ministry of Finance have issued Notification vide F 275/29/85 IT (B) dated 05 Jun 85 extending the exemption under Sub Section 3 of Section 194A of IT Act to Air Force Group Insurance Society. Accordingly, no income tax will be recoverable by Companies and Banks on the interest payable to the Society.
Foreclosure of Deposits with Companies without penalty. Gazette Notification No. 482 (E) dated 05 Jun 85, has been issued by the Government stating that deposits made by Air Force Group Insurance Society could be foreclosed during National Emergency before the expiry of maturity date and provisions of Rule 8 of Acceptance of Deposits Rules, 1975 regarding penalty clause would not apply in such contingencies. This has been made applicable for deposits made earlier to 05 Jun 85 also.
Exemption from GST. As per Govt of India, Ministry of Finance (Department of Revenue) notification No.7/2017 dated 02 Feb 2017 introduction of section 105(1), (2) & (3) of Finance Act 2017, AFGIS along with other sister insurance societies (Army Group, Naval Group) have been exmpted from service tax.