What is the deductibility of premium paid under keyman insurance policy in the hands of the employer and taxability of the benefits received at the time of maturity?
Menu
Keyman Insurance policy
Replies (2)
hi mr.dutta nice talking u through this medium.
premium is deductible as business expenditure u/s 37. if they key person dies, it will be taxable on the hands of receipient as income from other sources. if received by the key person it is taxable as profit in lieu of salary.do tell me if i m mistaken any where.take care bi
Thanks Vishal 4 ur reply , but Im miss shrabani not mr. Keep giving replies.
Recent Topics :
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
Related Topics :
CAclubindia
