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Treatment of Key man Scheme of insurance policy by the compa

This query is : Resolved 
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(Querist)
01 April 2009 Dear Sir,

Please reply my question that how can be treated the key man scheme insurance which premium is paid by the company.
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CA LOKESH KASAT, FCA, M.Com

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CA LOKESH KASAT, FCA, M.Com (Expert)
01 April 2009 It can be treated as Profit in Lieu of Salary and Added to Salary of Employee. Other Option under B&P Also available for company.
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K V Subba Rao

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K V Subba Rao (Expert)
01 April 2009 Pl check the following link:

https://www.caclubindia.com/experts/experts_message_display.asp?group_id=136531
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CA.MANOJ LAMBA

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CA.MANOJ LAMBA (Expert)
01 April 2009 IT IS TREATED AS EXPENDITURE UNDER THE HEAD BUSINESS OR PORFESSION.
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