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Insurance premium paid is it expenses or investment"?

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Insurance premium paid is it expenses or investment"?

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  1. It is an investment eligible for tax exemption and even the proceeds of the insurance policy is tax free.  If your premium and all other investments, does not exceed Rs1,00,000/ are eligible for tax exemption, beyond that it is taxable.  If it is a business expense, it is treated as business expenses and will be under the head of profit and loss account.

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