Computation of insurance business profits must follow the designated schedule, overriding other income heads and provisions. Computation of profits and gains of any business of insurance, including businesses run by mutual insurance companies or co-operative societies, must be ... Summary
Computation of insurance business profits must follow the designated schedule, overriding other income heads and provisions.
Computation of profits and gains of any business of insurance, including businesses run by mutual insurance companies or co-operative societies, must be made in accordance with the provisions of the specified schedule, and this requirement overrides other heads of income and the referenced statutory provisions.
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