Premium paid towards employer employee scheme
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 September 2013
Dear sir/Madam,
We had subscribed for employer employee insurance scheme in 2007.then the 5% cap was not applicable.We had bought the same for our directors.
The directors were given monthly salary.Now one of the directors is staying abroad and we are not debiting any salary for him.can we continue to pay the premium in his name?
We had subscribed for employer employee insurance scheme in 2007.then the 5% cap was not applicable.We had bought the same for our directors.
The directors were given monthly salary.Now one of the directors is staying abroad and we are not debiting any salary for him.can we continue to pay the premium in his name?
06 October 2013
Since the premium is for directors then let me know whether this is key man insurance policy. If it is so then 2 years prior to maturity assign this policy to the directors and let the director pay the premium. You can show the premium paid as directors remunaratin but mind it ST is attracting on this payment.
06 October 2013
Since the premium is for directors then let me know whether this is key man insurance policy. If it is so then 2 years prior to maturity assign this policy to the directors and let the director pay the premium. You can show the premium paid as directors remuneration but mind it ST is attracting on this payment.
Message likes :
1 times
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
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- Transporter Declaration form
- Multiple trade mark
- LC charges in relation to Asset purchased should be Capitalised ?
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
