Insurance of partner
This query is : Resolved
27 June 2012
Dear Sir,
Whether insurance premium of partner paid by Firm is allowable as deduction to Firm???
Pls it's urgent
Thanking you in advance.
Bhavesh
Whether insurance premium of partner paid by Firm is allowable as deduction to Firm???
Pls it's urgent
Thanking you in advance.
Bhavesh
27 June 2012
No. In my opinion such insurance premium of partners paid by the firm shall be treated as partners drawings.
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28 June 2012
Dear sir,
My question is whether it should be disallowed or not?
If staff insurance paid by firm is allowed as deduction so what about premium of partner paid by firm??
Kindly suggest.
thanx in advance
My question is whether it should be disallowed or not?
If staff insurance paid by firm is allowed as deduction so what about premium of partner paid by firm??
Kindly suggest.
thanx in advance
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