19 February 2014
Dear Sir, If an Employer purchase Insurance of 6 pay 15 yr maturity on the name of his employee and assigns this on the name of same employee just after paying 6 term premium after receiving the surrender value. Will the maturity of this policy will be non taxable (As per 10 (10D)) for the said employee?
20 February 2014
Very vital issue is if the employee is paying the premium then nothing is taxable but if the company is paying the premium and on maturity it is key man's insurance policy then it is taxable in the hands of the company.
20 February 2014
Very vital issue is if the employee is paying the premium then nothing is taxable but if the company is paying the premium and on maturity it is key man's insurance policy then it is taxable in the hands of the company.
CAclubindia
