Life insurance
This query is : Resolved
vibha surana
(Querist)
11 May 2014
Hi,
If employer pays life insurance premium for employee is it allowed as an expense? and is it tax free for employee or is it considered as perk for him?
Nikhil Kaushik
(Expert)
11 May 2014
see, for an employer it is an expense anyways, if it is keyman insurance policy, then it will be an insurance related expense. otherwise, it would included in employee cost as perquisite.
Nikhil Kaushik
(Expert)
11 May 2014
needless to say, once it is included in the salary, employee can claim deduction under 80C
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- Import Order Cancelled.
- TDS on Dashcam rent and allied services
- GSTR-9C filing
- Working on Gold wastage during Melting of old gold jewellery
- IMS (import of goods) ITC related
- Capital gains in IT returns
- Section 269ST applicability for capital introduced by partner to his partnership firm
- GST ITC as per notification 12/2023- central tax
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- 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
- 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
- How to pay remaining amount of TDS after due date?
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
