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TMI BlogLife Insurance by a trust for its trusteeX X X X Extracts X X X X X X X X Extracts X X X X ..... Life Insurance by a trust for its trustee X X X X Extracts X X X X X X X X Extracts X X X X ..... e insurance policy for its trustee.What will be the tax impact on the trust and its trustee at the time of maturity and what will be the tax treatment for payment of premium. Reply By CA UMA KOTHARI: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Reply: First see the Trust deed- whether it permit to pay for LIP of trustee? What type of trust is this? What type of trustees are, for whom you want to take policy on a/c of trust? Are they trau ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stee in real sense or just executives of trust but nomimated as trustee as well? What are purpose of policy? What will be sum assured,annula premium, tenure and maturaty value etc.? Do you think th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at your query is full and complete and can be replied in discussion forum? we hope you take things in proper perspective CA Dev and Uma Kothari Reply By Surender Gupta: The Reply: Yes, indeed, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... purpose and nature limitations under trust deed would help to solve your issue. Assuming trust deed is permitting such policies, than treatment may be same as in case of ordinary business entity. X X X X Extracts X X X X X X X X Extracts X X X X ..... Discussion Forum - Knowledge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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