Wednesday, March 11, 2015

[aaykarbhavan] Keyman Insurance Premium paid by firm for its partners was allowable as business exp.



 

Keyman Insurance Premium paid by firm for its partners was allowable as business exp.

March 11, 2015[2015] 55 taxmann.com 54 (Bombay)
IT : Where partnership firm obtained insurance policy on life of two partners, expenditure was incurred for benefit of firm and same was allowable under section 37(1)
Regards
Prarthana Jalan


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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>


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