Group insurance (life & accident) paid by employer - tax consequences

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Hi,

 

I am an employer having a employee strength of 150 and we are paying Group Insurance (Life & Accident) for the employees. How I can claim the amounts. Is it just to charge to P&L or is there any other process involved in this?

 

Please advise. Thank you in advance.

 

Regards,

Kumar 

Replies (1)
YES U CAN CLAIM AMOUNT U/S 36(1)(ib) !!!
PROVIDED, THE PAYMENT OF PREMIA IS MADE BY ANY MODE OTHER THAN CAD

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