Life Insurance by a trust for its trustee

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....ife Insurance by a trust for its trustee<br> Query (Issue) Started By: - Rahul Bagaria Dated:- 28-7-2010 Last Reply Date:- 1-8-2010 Income Tax<br>Got 2 Replies<br>Income Tax<br>Can a trust take a life....

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.... insurance policy for its trustee.What will be the tax impact on the trust and its trustee at the time of maturity and what will be the tax treatment for payment of premium. Reply By CA UMA KOTHARI: T....

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....he Reply: First see the Trust deed- whether it permit to pay for LIP of trustee? What type of trust is this? What type of trustees are, for whom you want to take policy on a/c of trust? Are they traus....

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....tee in real sense or just executives of trust but nomimated as trustee as well? What are purpose of policy? What will be sum assured,annula premium, tenure and maturaty value etc.? Do you think tha....

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....t your query is full and complete and can be replied in discussion forum? we hope you take things in proper perspective CA Dev and Uma Kothari Reply By Surender Gupta: The Reply: Yes, indeed, the p....

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....urpose and nature limitations under trust deed would help to solve your issue. Assuming trust deed is permitting such policies, than treatment may be same as in case of ordinary business entity.<br> D....

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