Deductibility of employer-paid health insurance premiums allowed where paid by cheque under an approved GIC scheme. A new deductible clause (ib) permits employers to deduct premiums paid by cheque for employees' health insurance under a scheme framed by the General Insurance Corporation of India and approved by the Central Government. Clause (viia) is rewritten to cap deductions for provisions for bad and doubtful debts: specified percentage limits apply to scheduled and non-scheduled banks with an additional specified limit tied to rural branch advances, while banks incorporated outside India are subject to a specified percentage limit of total income.
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.
Deductibility of employer-paid health insurance premiums allowed where paid by cheque under an approved GIC scheme.
A new deductible clause (ib) permits employers to deduct premiums paid by cheque for employees' health insurance under a scheme framed by the General Insurance Corporation of India and approved by the Central Government. Clause (viia) is rewritten to cap deductions for provisions for bad and doubtful debts: specified percentage limits apply to scheduled and non-scheduled banks with an additional specified limit tied to rural branch advances, while banks incorporated outside India are subject to a specified percentage limit of total income.
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