Deductibilty of premium on keyman insurance in p&l

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Dear Sirs,

                 Kindly let me know

1)    whether “Premium on Keyman Insurance Policy” paid by a Pvt. Ltd. Co. for its Director is deductible as business expense in P&L?

2)    whether “Rent  ” paid by a Pvt. Ltd. Co. for its Director's RESIDENCE is deductible as business expense in P&L?

 

Kindly reply at the earliest

 

Thank you

Replies (1)

both expenses are allowable under the guidelines of board's resolution on the issues.


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