Register Price / Packages DEMO Option My Bookmarks Daily Newsletters Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    Penalty u/s. 270A - Under-reporting of income /...     TaxTMI    Exemption u/s 11 - assessee has not e-filed or not...     TaxTMI    Taxable supply or not - Entry fee collected from...     TaxTMI    Extinguishment of liability as per order of NCLT -...     TaxTMI    Violation of principles of natural justice -cryptic...     TaxTMI    Determination of time limit for filing of Appeal...     TaxTMI    Scope of SCN - impugned order proceeds on a...     TaxTMI    Penalty levied u/s 271(1)(c) - Transfer pricing...     TaxTMI    Seeking cancellation of the GST registration - The...     TaxTMI    Eligibility for Input Tax Credit - Failure to...     TaxTMI    Levy of penalty @200% - e-way bill which was...     TaxTMI    Levy of interest and penalty - transition of amount...     TaxTMI    Validity of assessment order - non-speaking...     TaxTMI    Benefit of exemption from GST - educational...     TaxTMI    Levy of maximum penalty - penalty imposed on the...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights February 2015 Year 2015 This

Taxability of amount received from LIC on maturity of key man ...

Income Tax

February 18, 2015

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 policy and gets converted into an ordinary policy - advantage drawn therefrom is taxable in the hands of assessee - AT

View Source

 

← Previous Next →

 

You may also like:

  1. 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...

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

  3. 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,...

  4. 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...

  5. 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...

  6. CENVAT Credit - insurance service received by the banks from the Deposit Insurance and Credit Guarantee Corporation - initially there was Difference of Opinion - credit...

  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. Cenvat credit - service tax paid by the insurance providers on various insurance policies taken out by the appellant - insurance policy has another address - credit allowed - AT

  9. The deposit insurance activity undertaken by the appellant, Deposit Insurance and Credit Guarantee Corporation, falls within the taxable service category of general...

  10. A person resident in India allowed to have a general or life insurance policy issued by an insurer outside India - RBI notifies the regulations / conditions

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
F: INQUIRY BY THE APPELLATE AUTHORITY
H: Applicable rate of tax (GST) - Classification of goods - mango pulp su...
H: Exemption from GST - pure services or supply of goods to the Notified ...
H: Interest Liability on Electronic Credit Ledger Payments - Seeking levy...
H: Recovery of short paid duty alongwith interest and penalty - The petit...
H: Validity of assessment order - reply to the ASTM-10 notice was not tak...
H: Refund of the unutilized ITC of GST Compensation Cess on coal - zero r...
H: Classification of the mixed spices - classification accepted under the...
H: Imposition of GST on vouchers - The petitioner, involved in managing c...
H: Validity of assessment order - The High Court opined that the challeng...
H: Refund claim - determination of the turn over for the purpose of refun...
H: Grant of Regular Bail - In a case where the State sought to challenge ...
H: Delay in filing the appeal - Time Limitation - petition delayed for al...
H: Cancellation of GST registration of the petitioner - The High Court ex...
H: Availing and utilization of Input Tax Credit - The applicant had initi...
F: Penalty under Section 73(1) of CGST Act, 2017
H: Addition u/s 68 - unexplained share application money - genuineness an...
F: Refund of IGST Charged and collected from Foreign Customer on Export o...
F: sales Against 0.1% GST- if export not done within 90 Days
F: PAYMENT TO CINE OR TV ARTISTS. LIABILITY UNDER RCM
A: Collection of Entry Fee from visitors for Temple Hall Exempt under GST
A: State-wise Professional Tax Payment Deadlines in India: A Comprehensiv...
A: Low tax effect in pending appeals- The administrative role to withdraw...
C: Clarification on the applicability of 3% amount on account of non-achi...
C: Suspension of inoperative SIONs
N: Amendment in the Export policy of Onions
N: Seeks to amend specified customs tariff notifications to exempt applic...
A: How to become a crorepati via SIP
C: Master Direction – Risk Management and Inter-Bank Dealings: Amendments
A: Roving Judgements!