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TMI BlogEmployee Employer Insurance- Income Tax treatmentX X X X Extracts X X X X X X X X Extracts X X X X ..... Employee Employer Insurance- Income Tax treatment X X X X Extracts X X X X X X X X Extracts X X X X ..... my client company has paid for insurance policy in the name of directors i.e. employees as a retention tool. Terms and conditions are as follows: - Employer is the proposer and life to be assured is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the employee. Employer is the policy owner and pays the premium. -Employer has fixed condition and period by when the policy will be assigned in favor of employee. - Is the premium paid (annual &# ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8377; 1 lakh) eligible as revenue expenditure under section 37 to the company without any dispute?? now after 4 years of payment by company (Total Payment -Rs.4,00,000 /-), policy got assigned to emp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... loyee i.e. director in his personal capacity. at that time, surrender value was ₹ 1,75,000 /-. what should be the treatment here in company's hand and in employee's hand? After that emp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... loyee pays balance 6 premiums i.e. total ₹ 6,00,000 /- and gets ₹ 12,50,000 /- as maturity amount. Which amount should be taxable in the hands of employee? total 12,50,000 /- or ₹ 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0,75,000 (i.e. net or surrender value at the time of assignment). Thanks Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: The premium paid may be treated as revenue expenditure since it relates to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e business. X X X X Extracts X X X X X X X X Extracts X X X X
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