Enhanced deduction rate for qualifying life insurance policies increases allowable proportion for persons with disability or specified ailments. The amendment substitutes the previously prescribed lower percentage with a higher percentage for computing deductions on life insurance premiums where the policy, issued on or after the 1st day of April, 2013, insures the life of a person with disability or a person suffering specified diseases, with the proviso taking effect from the 1st day of April, 2014.
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Provisions expressly mentioned in the judgment/order text.
Enhanced deduction rate for qualifying life insurance policies increases allowable proportion for persons with disability or specified ailments.
The amendment substitutes the previously prescribed lower percentage with a higher percentage for computing deductions on life insurance premiums where the policy, issued on or after the 1st day of April, 2013, insures the life of a person with disability or a person suffering specified diseases, with the proviso taking effect from the 1st day of April, 2014.
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