Is tax dedcution available for partnership insurance
This query is : Resolved
31 May 2013
Is Income Tax deduction is available from the profit for life insurance premium is paid for partner's life insurance under partnership insurance ?
31 May 2013
I think it will depending on the Partnership agreement and deep. However in any case Income tax doesn't allow it as expenditure while computation of total income and tax liability of the firm.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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