Company paying directors life insurance premium. Is this business expenditure? Allowable as expense?
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Directors LIC premium
Replies (3)
No, It's individual expense.
In addition to above , I would like to suggest, please refer Case law of ITAT ( Income tax Appellate Tribunal) Pune bench ruling in the Case of Gadgil Holding Pvt LTD , In this Case disallowed by ITAT .
Thank you so much for prompt reply.
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