Whether Keyman Insurance policy with life taken on the life of a partner is allowable expenditure while copmuting firm's income?
Menu
Keyman Insurance on Partner of a Firm
Replies (2)
| Originally posted by :Vijay Sarathi H | ||
| " | Whether Keyman Insurance policy with life taken on the life of a partner is allowable expenditure while copmuting firm's income? | " |
Keyman Insurance premium, whether the benefit of maturity goes to the firm or insured, is allowable expenditure. In case the beneficiary is firm, you should treat as income on maturity of policy.
Can I get any Case laws on the same with respect of allowalibility of premium ???
Recent Topic
- Happy CA Day!!
- Share your proudest CA moment 🏆
- Gift recd from brother
- How to show Loan write off in DPT 3?
- Form 10E and Salary arrear
- LTCG U/S 54F. Sale of property plus sale of share
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
Related Topics
CAclubindia
