Deduction for insurance premiums permits claims for stock, cattle life, and employer paid employee health insurance. Deduction for insurance premiums is permitted in computing income chargeable under section 26 for premiums paid to insure stocks or stores used in business; for premiums paid by a federal milk cooperative society to insure the life of cattle owned by a member of a supplying primary society; and for premiums paid by an employer, by any mode other than cash, to effect or keep in force employee health insurance under a scheme framed by the General Insurance Corporation or any insurer approved by the Insurance Regulatory and Development Authority.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction for insurance premiums permits claims for stock, cattle life, and employer paid employee health insurance.
Deduction for insurance premiums is permitted in computing income chargeable under section 26 for premiums paid to insure stocks or stores used in business; for premiums paid by a federal milk cooperative society to insure the life of cattle owned by a member of a supplying primary society; and for premiums paid by an employer, by any mode other than cash, to effect or keep in force employee health insurance under a scheme framed by the General Insurance Corporation or any insurer approved by the Insurance Regulatory and Development Authority.
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