what is the tax planning for receipt of keyman insurance policy for a partner of the firm? The firm had taken KIP and on receipt the whole amount was assigned to partner. Now is there any tax planing / investment options available?
1 Replies
Late CA Sampat Jain
(Chartered Accountant)
(4772 Points)
Replied 30 December 2007
check out :
https://icai.org/icairoot/publications/complimentary/KeymanInsurance.pdf
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