Keyman insurance policy receipts treated as specified income, including bonuses, modifying tax treatment of those payments. The amendment broadens official designations by substituting Commissioner titles to include Assistant Director and Deputy Director, and adds a provision treating any sum received under a Keyman insurance policy, including bonuses, as a specified item within the income-tax definitions, with 'Keyman insurance policy' defined by the cross-referenced Explanation.
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Provisions expressly mentioned in the judgment/order text.
Keyman insurance policy receipts treated as specified income, including bonuses, modifying tax treatment of those payments.
The amendment broadens official designations by substituting Commissioner titles to include Assistant Director and Deputy Director, and adds a provision treating any sum received under a Keyman insurance policy, including bonuses, as a specified item within the income-tax definitions, with "Keyman insurance policy" defined by the cross-referenced Explanation.
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