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insurance of employee, Income Tax

Issue Id: - 2866
Dated: 4-3-2011
By:- d.v. gupta

insurance of employee

Contents

sir,

whether insurance premium paid for emplyees life deductible as business expediture.if deductible as business expenditure, premium will be added to salary of employee.

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Showing Replies 1 to 1 of 1 Records

Page: 1

1 Dated: 4-3-2011
By:- CA Rachit Agarwal

No premium will not be required to be added to salary of employee.

Insurance premium on employees is deductible expenditure.

However please note that insurance of employees is deductible under general deductions under Section unlike insurance on plant & machinery which is deductible u/s 31.

Page: 1