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    Refund of GST paid deposited by the Vendor on...     TaxTMI    Salary income - Taxability of "fringe benefits" or...     TaxTMI    Reopening of assessment under old regime - scope of...     TaxTMI    Liability of tax arising on account of inadvertent...     TaxTMI    Validity of assessment order - Disparity in Returns...     TaxTMI    Rejection of refund claim - Status of the...     TaxTMI    Time Limitation for filing refund claim - Impact of...     TaxTMI    Condonation of delay in filing an appeal before the...     TaxTMI    Validity of assessment order - Utilization of Input...     TaxTMI    Violation of principles of natural justice - notice...     TaxTMI    Income from Other Sources u/s 56(2) - interest...     TaxTMI    Imposition of GST under the reverse charge...     TaxTMI    Reversal of ITC - The High Court found that certain...     TaxTMI    Detention of goods alongwith penalty - Expired...     TaxTMI    Exemption from GST - Hostel accommodation -...     TaxTMI    Rejection of rectification petition - turnover of...     TaxTMI    AIRs of Duty Drawback - Customs Notification No....     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 September 2015 Year 2015 This

Disllowances towards premium of keyman insurance policies - once ...

Income Tax

September 25, 2015

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 nature of life insurance policy, whether pure life cover or term cover or a growth or guaranteed return policy, it is eligible for coverage of Section 10(10D) - AT

View Source

 

← Previous Next →

 

You may also like:

  1. 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...

  2. 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,...

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

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

  6. 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...

  7. 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...

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

  9. 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 -...

  10. 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...

  11. 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...

  12. 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...

  13. 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,...

  14. 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

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

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
F: GST of skill training services
F: ITC under GST
F: Delivery of assessment order
F: typo error in 3B year 18-19
C: Applicability of Notification No. 71/2023 dated 11.03.2024
C: Enabling provisions for import of inputs that are subjected to mandato...
F: Reconciliation of Eway bills
F: Refund of IGST Charged and collected from Foreign Customer on Export o...
H: Levy of penalty - non filling up of Part B of the e-Way Bill - existen...
H: Violation of principles of natural justice - The court observed that w...
H: Rejection of the petitioner’s claim for budgetary support - Violation ...
H: Validity of determination of GST liability (demand) u/s 73(1) - Reject...
H: Blocking the input tax credit against the petitioners - The High Court...
H: Faceless Assessment Center u/s 144-B - territorial jurisdiction - The ...
H: Non-jurisdictional AO proceeding with the assessment - decentralizatio...
H: Deduction u/s 80-O - brandishing newspaper cuttings as proof to show i...
H: Condonation of delay in filing of revised return of income - CBDT reje...
H: Assessment completed u/s 144C against a petitioner/Non-Resident Indian...
H: Exemption u/s 10(23C)(iiiad) - Threshold limit of Rs. 1 Crore - The Ap...
H: Denial of deduction claimed under Chapter VI-A i.e. Section 80G/ 80GGA...
H: Levy of penalties under various sections - The Appellate Tribunal, in ...
H: Application seeking approval u/s 80G(5)(vi) rejected - Assessee is pre...
H: Revision u/s 263 - Bogus LTCG/Share transaction - as per CIT AO failed...
A: Mohit Agarwal Vs. CIT (All)- Appeal of assesse was earlier admitted th...
A: DEPRECIATION ON GOODWILL
A: Deciphering GST Notices: A Comprehensive Guide to Understanding and Re...
F: ITC CLAIMED AFTER DUE DATE
F: INQUIRY BY THE APPELLATE AUTHORITY
N: Extension in Import Period for Yellow Peas under ITC (HS) Code 0713101...
C: Uploading of judicial orders related to insolvency proceedings by Inso...