Insurance business accounting: profits and gains must be computed under Schedule XIV despite other Income-tax Act provisions. Profits and gains of any insurance business, including those of a mutual insurance company or a co-operative society, must be computed according to ... Summary
Insurance business accounting: profits and gains must be computed under Schedule XIV despite other Income-tax Act provisions.
Profits and gains of any insurance business, including those of a mutual insurance company or a co-operative society, must be computed according to Schedule XIV, irrespective of contrary provisions in other heads of income or specified sections of the Act.
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