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Unit linked insurance premium
what is the treatment of payment for UNIT LINKED INSURANCE PREMIUM. by the employer
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Is this insurance premium paid by the employer ( company) on behalf of the employees ?. please elaborate in detail.
In the question it is give that employer paid ₹24000 towards ulip for employee
you have show under indirect expenses in profit and Loss account .
Also check premium paid on behalf of employees is allowable deduction under 36(1) (ib) of the income tax act 1961 or not .
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