https://www.taxtmi.com/acts?id=48995 Life insurance profits are computed by annual averaging of the actuarial surplus for the last inter valuation period, excluding earlier period adjustments, with inadmissible expenditures added back; where valuation periods exceed twelve months, tax credit treatment is limited to annual averages of tax deducted at source. For other insurance, taxable profit is profit before tax and appropriations per statutory accounts subject to add backs for inadmissible provisions, adjustments for investment realisation gains or losses, add back of diminution provisions, and deductions for prescribed reserves for unexpired risks. Non resident branch profits may be apportioned by premium ratios when reliable data is lacking. en-us Fri, 14 Feb 2025 15:43:11 +0530 Thu, 20 Feb 2025 17:04:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48995 Life insurance profits are computed by annual averaging of the actuarial surplus for the last inter valuation period, excluding earlier period adjustments, with inadmissible expenditures added back; where valuation periods exceed twelve months, tax credit treatment is limited to annual averages of tax deducted at source. For other insurance, taxable profit is profit before tax and appropriations per statutory accounts subject to add backs for inadmissible provisions, adjustments for investment realisation gains or losses, add back of diminution provisions, and deductions for prescribed reserves for unexpired risks. Non resident branch profits may be apportioned by premium ratios when reliable data is lacking. Act-Rules Bills Fri, 14 Feb 2025 15:43:11 +0530 https://www.taxtmi.com/acts?id=48995