ASN Professionals (Business Development) (78 Points)
20 October 2011Can the premium paid on Life Insurance Policy for employees be claimed as expense in P&L A/c by a employer?
Phalgun
(Audit Manager)
(327 Points)
Replied 20 October 2011
Expenses are allowable :
a) If they are not personal in nature
b) If the expenses is not a capital expense
Insurance premium on employees paid by employer ia an allowable expense. As it is like any other staff expenses (salary,bonus)
CA VISHAL RANA,CS,B.Com,AMFI
(Chartered Accountant in Whole Time Practice)
(4354 Points)
Replied 27 October 2011
It is treated as amount for benefits of employees.....deduction for these expenses will be allowed to employer
Sandip
(Accountanat)
(56 Points)
Replied 05 November 2011
its treated as employees benifits... this exp allowed for deduction
CAclubindia
