Key man insurance policy
This query is : Resolved
27 November 2012
Sir
Premium paid by employer under Key man insurance policy can be claimed as expense and the maturity proceeds are taxable under section 10 (10D).
But what is the tax treatment for non key man insurance policy taken by the employer for his employees. Premium and Maturity are fully exempt or taxable? Please clarify
Premium paid by employer under Key man insurance policy can be claimed as expense and the maturity proceeds are taxable under section 10 (10D).
But what is the tax treatment for non key man insurance policy taken by the employer for his employees. Premium and Maturity are fully exempt or taxable? Please clarify
04 December 2012
premium can be claimed as expenses but income is exempt in the hands of employee. maturity proceeds of key man insurance is taxable.
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