banner_ad

Term insurance premium

This query is : Resolved 
Profile Image

Profile Image

(Querist)
10 September 2010 Can the premium paid for term insurance plan be deducted as business expense? My business income comes from two-three business of which one is futures stock trading. Thanks in advance.
Profile Image

CA SMR

Profile Image

CA SMR (Expert)
10 September 2010 Can you please clarify what you mean by Term Insurance?
Few e.g. In case of Medical Insurance premium and insurance towards pension plan or life insurance the deduction will be from the taxable income u/s 80D and 80ccc.
In case the premium is paid towards Car insurance where the car is used for business purpose,the deduction can be from Business income.
Profile Image

CMA. Subhash Kumar Jha

Profile Image

CMA. Subhash Kumar Jha (Expert)
10 September 2010 So far as "term Insurance" is concerned, its a form of life insurance & hence it should not be treated as business expense.

However, you can claim it under section 80C.
Profile Image

Rasesh

Profile Image

Rasesh (Expert)
10 September 2010 In my view, Yes.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details