Premium paid on Keyman Insurance Policies - once the assessee ...

Keyman Insurance Premiums Remain Deductible Post-Assignment if Initially Paid by Assessee, Ensuring Financial Commitment Recognition.

February 26, 2014

Case Laws Income Tax AT

Premium paid on Keyman Insurance Policies - once the assessee after nursing these policies for some time by paying premium thereupon, has been assigned to the partners, then also the payment of such a premium has to be allowed as deduction - AT

View Source

← Previous Next →

Premium paid on Keyman Insurance Policies - once the assessee ...

Keyman Insurance Premiums Remain Deductible Post-Assignment if Initially Paid by Assessee, Ensuring Financial Commitment Recognition.

February 26, 2014

Case Laws Income Tax AT

You may also like:

Keyman Insurance Policy - premium paid for the partners - The premium paid on the Keyman Insurance Policy is allowed as business expenditure - HC

Disallowance of keyman insurance policy of the director of the company paid - The premium paid for keyman insurance policy is allowable to the assessee u/s. 37(1) of the...

Disallowance of premium paid for Keyman Insurance Policies – investment plans with accompanying insurance benefits - cannot be claimed as business expenditure - AT

Disallowance of premium on Insurance Policy - Keyman Insurance Policy - Once the assets are sold, the Keyman policy for the Firm becomes redundant. At the same time, a...

Disallowance of payment of premium under “Keyman Insurance Policy – maturity or surrender amount under the Keyman Insurance Policy was not exempted but taxable under...

GST Council's 53rd meeting recommendations led to amendments in Schedule III of CGST Act, clarifying two key insurance transactions. First, co-insurance premium...

Exemption u/s 10(10D) - addition of the surrender value of the assigned keyman insurance policy - On the basis of Section 10(10D) of the Act, with its Explanation 1, the...

Disllowances towards premium of keyman insurance policies - once it has been sold as a life insurance policy on the keyman to the business, as long as it is in the...

Keyman Insurance Policy - Therefore, the difference between premium paid and surrender value is not taxable in the hands of assignee - AT

Rejection of refund claim - amount paid under protest - tax has been included in the gross amount collected as insurance premium or not - The computation of premium is a...

Keymen Insurance premium - in the absence of any contrary material placed by the Revenue that the 3 Directors are not the key persons, we are of the view that the...

Disallowance of key man insurance premium paid - it is not known how the payment of ₹ 10 lakhs towards premium is going to protect the assessee-company from...

Taxability of amount received from LIC on maturity of key man insurance policies - Insurance company has itself clarified that on assignment, it does not remain a keyman...

Exemption u/s 10(10D) on the maturity value of the Keyman Insurance Policy - Assessee received the amount on maturity of Keyman Insurance Policy after coming into effect...

Amount received by the assessee on maturity of the Keyman Insurance Policy - not eligible to claim exemption u/s 10(10D) - Legislature in its own wisdom never intended...

Quick Updates: