https://www.taxtmi.com/acts?id=53582 Limits are prescribed on the amount that may be carried to a reserve for unexpired risks in computing profits and gains from insurance business other than life insurance. The permissible reserve is capped by reference to net premium income, at 100% for fire insurance or engineering insurance covering terrorism risks, 50% for fire insurance and miscellaneous insurance other than those covered by the higher limit, and 100% for marine insurance, including export credit insurance. Amounts not allowable as a deduction in a tax year are not included in total income for the immediately succeeding tax year in the relevant revenue account. Net premium income means premium received less reinsurance premium paid. en-us Fri, 20 Mar 2026 18:52:34 +0530 Wed, 08 Apr 2026 17:42:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53582 Limits are prescribed on the amount that may be carried to a reserve for unexpired risks in computing profits and gains from insurance business other than life insurance. The permissible reserve is capped by reference to net premium income, at 100% for fire insurance or engineering insurance covering terrorism risks, 50% for fire insurance and miscellaneous insurance other than those covered by the higher limit, and 100% for marine insurance, including export credit insurance. Amounts not allowable as a deduction in a tax year are not included in total income for the immediately succeeding tax year in the relevant revenue account. Net premium income means premium received less reinsurance premium paid. Act-Rules Income Tax Fri, 20 Mar 2026 18:52:34 +0530 https://www.taxtmi.com/acts?id=53582