Company paying directors life insurance premium. Is this business expenditure? Allowable as expense?
3 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 20 June 2023
No, It's individual expense.
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 20 June 2023
In addition to above , I would like to suggest, please refer Case law of ITAT ( Income tax Appellate Tribunal) Pune bench ruling in the Case of Gadgil Holding Pvt LTD , In this Case disallowed by ITAT .
CA Rapunzel
(Chartered accountant)
(172 Points)
Replied 21 June 2023
Thank you so much for prompt reply.
Recent Topics
- Issue with refund for person who has filed for rel
- How to take ITC for October 2024 GST Payment in PM
- How to refund a wrong transaction Phone Pe?
- Avoiding tax audit in case of intraday equity loss
- Form 3CEAB
- Form 3CEAA and Form 3CEAB
- DIR 3 Web KYC
- Can i declare LTCG income as business income if I
- Stock entry in new software
- I have an EMI collection shop, what is its SAC cod
Related Threads
CAclubindia
