Insurance of partner
This query is : Resolved
bhavesh goswami
(Querist)
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
CA Roshan Jha
(Expert)
27 June 2012
No. In my opinion such insurance premium of partners paid by the firm shall be treated as partners drawings.
Message likes :
1 times
bhavesh goswami
(Querist)
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Tax on Amount transferred in HUF Account
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
