07 July 2012
Please tell me that amount received on the maturity of a keyman insurance policy is taxable to the company or not? Please mention the relevent section or notificatin or circular. Thanks in advance.
07 July 2012
Dear friend, the maturity amount received against Keyman Insurance policy to the company taxable. You must see the defination of income u/s. 28 of the income tax act. Thanks
CAclubindia
