Can deduction u/s 80 D will be availed on premium paid by a company,for a company director who is salaried company employee? What will it be treated as in company's books?
7 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 16 April 2020
Yes... The director can be avail the deduction in his ROI...
What will it be treated as in company's books?
- Account the premium amount into director's Current Account.
What will it be treated as in company's books?
- Account the premium amount into director's Current Account.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 16 April 2020
Mr. Stupid intelligent (Kevinton), It's not Your advertisement portal...
rutuja prabhune
(107 Points)
Replied 16 April 2020
What will Director's Insurance Premium be treated? as Drawings or Expenses of the company?
CA VISHWAKEERTHI.P.S.
(CA)
(1045 Points)
Replied 16 April 2020
In my view company can claim premium paid as expenses. premium payment in the nature of perquisite to employee
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 17 April 2020
If company claim expense then director can't avail deduction in his ITR.
Recent Topics
- Softex For freelancer ?
- GST ON REIUMBURSEMENT ENTRY ON GST PORTAL
- Missing invoice in gst
- GST on consultancy
- Linking adhaar to UAN without employer
- WHETHER ITC REVERSAL TH. GSTR 3B OR DRC03
- Advance Tax For Freelancers
- Is fvu 8.8 version available ?
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
Related Threads
CAclubindia
