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keyman insurance policy

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(Querist)
03 December 2008 wether keyman insurance policy shall be allowed for two or more persons?
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Jitender

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Jitender (Expert)
03 December 2008 yes
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Rajdeep Pawar

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Rajdeep Pawar (Expert)
03 December 2008 There is no such restriction or limit under Income Tax Act that Kayman Insurance Policy will be allowed for only single person. It can be allowed for more than one persons provided it comes within the definition of "Keyman Insurance Policy" as defined in Explanation to clause (10D) of Section 10.
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