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 June 2014 Year 2014 This

Disallowance of premium paid for Keyman Insurance Policies – ...


Keyman Insurance Premiums with Investment Plans Not Deductible as Business Expense, Affecting Financial Statements.

June 3, 2014

Case Laws     Income Tax     AT

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

View Source

 


 

You may also like:

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

  2. 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...

  3. Rejection of expenses on obtention of Keyman Insurance Policy – It is not a ‘term Assurance Policy Plan” as per IRDA guidelines - expenses rightly disallowed - AT

  4. 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...

  5. The premium on the 'Keyman Insurance Policy' of partner of the firm is wholly and exclusively for the purposes of business and is allowable as business expenditure - HC

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

  7. 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...

  8. Expenses towards Keyman Insurance Premium - rule of consistency - Keyman Insurance policies were taken in the name of directors in pursuance to resolution of the Board -...

  9. 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...

  10. 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...

  11. Allowable deduction u/s 37(1) - disallowance of reinsurance premium payment made to non-resident reinsurers who do not have a place of business / branch in India - the...

  12. 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...

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

  14. 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...

  15. 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...

 

Quick Updates:Latest Updates