Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2014 Year 2014 This

Assignment of Keyman insurance policy by the firm – Taxability ...

Case Laws     Income Tax

April 30, 2014

Assignment of Keyman insurance policy by the firm – Taxability u/s 2(24)(xi) r.w. section 10(10D) – nothing is taxable out of the maturity value of the policy received from the insurance company by the assessee employee - AT

View Source

 


 

You may also like:

  1. 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...

  2. Taxability of Keyman Insurance Policy - accrual or receipt basis - From the provisions of section 2(24)(xi) read with section 28(vi), it is evident that the amount of...

  3. 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...

  4. 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...

  5. 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...

  6. Key man insurance policy - Taxability of the sums received on maturity of life insurance policy - Assessee claimed it as exempt income u/s 10(10D) - It was contended...

  7. Key Man Insurance Policy - once it has been sold as a life insurance policy on the keyman to the business, as long as it is in the nature of life insurance policy,...

  8. After assignment of the policy in favour of the assessee, it changes its character from that of a Keyman Insurance Policy to that of an ordinary policy and that once it...

  9. 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...

  10. 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...

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

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

  13. 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...

  14. Accrual of income u/s 2(24) - Scope of Amendment to Section 2(24) by the insertion of sub-cause (xviii) - taxability of incentives given by the Government - the...

  15. Keyman Insurance policy - assignment in favour of the appellant - even though the assignment has happened during the year, surrender value as computed as on the date of...

 

Quick Updates:Latest Updates