TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Bill 2010: Amended Rule 5 Adjusts Insurance Profit Calculation, Aligns with IRDA Guidelines from April 2011</h1> Clause 52 of the Finance Bill, 2010, amends rule 5 of the First Schedule to the Income-tax Act, focusing on the computation of profits and gains for insurance businesses. Effective from April 1, 2011, the amendment stipulates that any gain or loss from investment realization, not reflected in the profit and loss account, must be adjusted accordingly. Additionally, any provision for the diminution in investment value debited to the profit and loss account must be added back. These changes align with regulations by the Insurance Regulatory and Development Authority and apply from the assessment year 2011-2012 onwards.
TaxTMI 
TaxTMI 
