https://www.taxtmi.com/acts?id=51810 Profits of life insurance business are computed separately from other business income on the basis of the annual average surplus disclosed by actuarial valuation, with inadmissible expenditure added back and specified tax credits adjusted. Other insurance business profits are computed from profit before tax and appropriations, subject to add-backs for inadmissible expenditure, investment adjustments, diminution provisions, and deductions for prescribed reserves. Non-resident insurance profits may be apportioned by premium income, and the Schedule defines investments and life insurance business for these purposes. en-us Thu, 14 Aug 2025 13:23:05 +0530 Thu, 02 Apr 2026 16:07:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51810 Profits of life insurance business are computed separately from other business income on the basis of the annual average surplus disclosed by actuarial valuation, with inadmissible expenditure added back and specified tax credits adjusted. Other insurance business profits are computed from profit before tax and appropriations, subject to add-backs for inadmissible expenditure, investment adjustments, diminution provisions, and deductions for prescribed reserves. Non-resident insurance profits may be apportioned by premium income, and the Schedule defines investments and life insurance business for these purposes. Act-Rules Income Tax Thu, 14 Aug 2025 13:23:05 +0530 https://www.taxtmi.com/acts?id=51810