Can deduction u/s 80 D will be availed on premium paid by a company,for a company director who is salaried company employee? What will it be treated as in company's books?
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Directors' Insurance Premium
Replies (7)
Yes... The director can be avail the deduction in his ROI...
What will it be treated as in company's books?
- Account the premium amount into director's Current Account.
What will it be treated as in company's books?
- Account the premium amount into director's Current Account.
Mr. Stupid intelligent (Kevinton), It's not Your advertisement portal...
What will Director's Insurance Premium be treated? as Drawings or Expenses of the company?
Treated as drawings...
In my view company can claim premium paid as expenses. premium payment in the nature of perquisite to employee
If company claim expense then director can't avail deduction in his ITR.
Director can't claim deduction
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