Income Tax Act, 1962 (Act No. 58 of 1962)
Regulations in terms of section 12T(8) of the Income Tax Act, 1962, on the requirements for Tax Free Investment
Part VIII : Transactions not allowed
16. Risk cover not allowed
A policy in respect of which a tax free savings investment is comprised may not provide for any cover against the occurrence of an unforeseen event, including disability, illness or death.
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Appropriation Act, 2011