Peresonal insurance policy of director
This query is : Resolved
22 December 2012
hello to all experts , pls tell me . in case of private company , the expenditure incurred on medical policy and other pesonal (eg happy family floagter) , accidental policy of director's n their families is allowed to be debited in profit n loss a\c ?
22 December 2012
It will be allowed but considers as allowances or perks of the directors if the articles of association of such company provided to that expenditure.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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22 December 2012
it is treated as director benefit expenses is this right?
22 December 2012
Yes,.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
04 January 2013
if it is treated under director's perks & allwances a/c. then T.D.S will also be deducted?
06 January 2013
Yes, TDS also deduct accroding to the the applicable tax rate.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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