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 ?
Dintakurthi Tirumala
(Expert)
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
Message likes :
1 times
Dintakurthi Tirumala
(Expert)
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?
Dintakurthi Tirumala
(Expert)
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
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
- EPF ECR NEW FILE SEP 17TH 2026
- GST on Renting godown to KFCSC for Storage of Raagi
- Non filing of I T Returns
- Capitalgain tax purposes for valuation report compulsory
- Under marginal scheme
- TAX AUDIT ON PROFESSIONAL INCOME
- TDS on Fixed Assets purchased
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- Oct 2025 Invoices
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- 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
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
