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AI Drafter ✕

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

Step 1 – Issue Identification & Review

The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.

• Review the issues identified by the AI
• Add, edit, remove, or refine issues as required


Step 2 – Draft Generation

Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.

• Relevant statutory provisions
• Judicial precedents and Supreme Court, High Court and other citations
• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

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Premium for insurance of stock-in-trade or Store - (New) Section 30(a) / (Old) Section 36(1)(i)

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....stores used for the purposes of business or profession; allowed as deduction while computing the Income Chargeable under section 26. [ Section 30(a) ] Nature of deduction • The expense must be insurance premium. • It is revenue in nature, not capital expenditure. What is insured? • Stock-in-trade (goods meant for sale) • Stores (consumables....

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Full Text of the Document

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.... premium. • It is revenue in nature, not capital expenditure. What is insured? • Stock-in-trade (goods meant for sale) • Stores (consumables used in business, like raw materials, supplies) • The policy must cover risk of loss, damage or destruction, such as: • Fire • Theft • Natural disasters â€....

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