Telangana Tax Authority issues GST Notice of Rs 138 crores to LIC
The Telangana Tax Authority issued GST notice of Rupees 138 crores to Life Insurance Corporation of India (LIC). The "demand order-cum-penalty...
![Insurance Premium for paid for Keyman Insurance Policy of LIC, allowable as Expenses: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Insurance-Premium-Keyman-Insurance-Policy-LIC-Keyman-Insurance-Policy-of-LIC-Expenses-ITAT-Income-Tax-taxscan.jpg "Insurance Premium for paid for Keyman Insurance Policy of LIC, allowable as Expenses: ITAT [Read Order]")
![Rough Notings by Assessee to Prove Payment of LIC Premium Sufficient to Prove Genuineness of Cash Deposit: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/ITAT-assessee-actual-transactions-LIC-Premium-taxscan.jpeg "Rough Notings by Assessee to Prove Payment of LIC Premium Sufficient to Prove Genuineness of Cash Deposit: ITAT deletes Addition [Read Order]")
![Insurance Premium paid which wasn’t claimed Deduction u/s 80C cant be taxed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Insurance-Premium-Insurance-Premium-claimed-deduction-us-80C-Insurance-Premium-cannot-be-taxed-ITAT.jpg "Insurance Premium paid which wasn’t claimed Deduction u/s 80C cant be taxed: ITAT [Read Order]")
CIT (A) require to Examine Documentary Evidences filed by Assessee before merely Confirming Findings of AO: ITAT [Read Order]
The Amritsar Bench of Income Tax Appellate Tribunal has held that CIT (A) require to examine documentary evidences filed by assessee before merely confirming finding of Assessing Officer. The...
![CIT (A) require to Examine Documentary Evidences filed by Assessee before merely Confirming Findings of AO: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/CIT-A-Documentary-Evidences-Assessee-AO-ITAT-taxscan.jpg "CIT (A) require to Examine Documentary Evidences filed by Assessee before merely Confirming Findings of AO: ITAT [Read Order]")
Income Tax on Maturity of LIC Policy: Proportionate Principal Amount of Premium Deductible as per CBDT Circular, rules ITAT [Read Order]
In a significant ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the assessee is entitled to deduct the proportionate principal amount paid for obtaining the 1st...
![Income Tax on Maturity of LIC Policy: Proportionate Principal Amount of Premium Deductible as per CBDT Circular, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/LIC-Policy-Principal-Amount-Premium-CBDT-Circular-ITAT-taxscan.jpeg "Income Tax on Maturity of LIC Policy: Proportionate Principal Amount of Premium Deductible as per CBDT Circular, rules ITAT [Read Order]")
Deduction allowable on Payment towards LIC Group Gratuity Scheme: ITAT grants relief to Andaman & Nicobar State Corporation Bank [Read Order]
In a major relief to Andaman & Nicobar State Corporation Bank, the Income Tax Appellate Tribunal, Kolkata bench has held that deduction is allowable on the payment towards LIC Group Gratuity...
![Deduction allowable on Payment towards LIC Group Gratuity Scheme: ITAT grants relief to Andaman & Nicobar State Corporation Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Deduction-Payment-LIC-Group-Gratuity-Scheme-ITAT-Andaman-Nicobar-State-Corporation-Bank-Corporation-bank-bank-Taxscan.jpg "Deduction allowable on Payment towards LIC Group Gratuity Scheme: ITAT grants relief to Andaman & Nicobar State Corporation Bank [Read Order]")
LIC ought to deduct TDS while paying Conveyance Allowances to its Development Officers: Orissa High Court [Read Order]
The Orissa High Court ruled that the Life Insurance Corporation of India (LIC) ought to deduct TDS while paying the conveyance allowances to its development officers. Mr. S.K. Jena, the counsel...
![LIC ought to deduct TDS while paying Conveyance Allowances to its Development Officers: Orissa High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/08/Life-Insurance-Corporation-LIC-deduct-TDS-allowances-development-officers-Orissa-High-Court-Taxscan.jpg "LIC ought to deduct TDS while paying Conveyance Allowances to its Development Officers: Orissa High Court [Read Order]")
Cash Medical Benefit to LIC Employees does not attract TDS: ITAT grants relief to LIC [Read Order]
In a significant ruling granting relief to the Life Insurance Corporation of India (LIC), the Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that the corporation does not required to...
![Cash Medical Benefit to LIC Employees does not attract TDS: ITAT grants relief to LIC [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/Cash-Medical-Benefit-LIC-Employees-TDS-ITAT-LIC-Taxscan.jpg "Cash Medical Benefit to LIC Employees does not attract TDS: ITAT grants relief to LIC [Read Order]")
