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Under Section 15 of the Insurance Act 1938 (Submission of Returns), audited accounts and statements must be furnished to the Authority as returns within:
A{'text': '3 months from end of the period', 'letter': 'A'}
B{'text': '6 months from end of the period', 'letter': 'B'}
C{'text': '9 months from end of the period', 'letter': 'C'}
D{'text': '12 months from end of the period', 'letter': 'D'}
Answer & Solution
Correct answer: B. {'text': '6 months from end of the period', 'letter': 'B'}
1. Section 15 sets the timeline for return submission.
2. Four copies of audited returns must reach the Authority.
3. Within six months from the end of the period to which they refer.
_Source: Insurance Act 1938 (incorporating amendments till 2021), noc.irdai.gov.in — "audited accounts and statements ... shall be printed, and four copies thereof shall be furnished as returns to the Authority within six months from the end of the period to which they refer."_