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sudarshan shetty Chartered Accountant [ Scorecard : 42]	Posted On 29 December 2007 at 15:32 Report Abuse / Feedback Name Email Subject Message Verify      Note : The above form can be used to intimate the moderators regarding abuse of the platform.
	Whether keyman insurance premium paid of a Partner to whom no salary is paid during the current year allowable under Income Tax as an expense?
Late CA Sampat Jain Chartered Accountant [ Scorecard : 4631]	Posted On 30 December 2007 at 10:56
	check out :: http://icai.org/icairoot/publications/complimentary/KeymanInsurance.pdf
Ashish Mitra (Guest)	Posted On 30 December 2007 at 23:43
	The situation is different in case of working and non-working partner. In case of non-working partner, no amount paid to him shall be deductible within the meaning of SEc.40(b)(i). In case of working partner, the amt. shall be deductible if such is provided in the partnership deed.[SEc.40(b) ]

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