{"id":5274,"date":"2018-03-13T17:06:45","date_gmt":"2018-03-13T11:36:45","guid":{"rendered":"https:\/\/www.hostbooks.com\/in\/?p=5274"},"modified":"2018-04-02T13:18:26","modified_gmt":"2018-04-02T07:48:26","slug":"rule-6e-limits-reserve-unexpired-risks","status":"publish","type":"post","link":"https:\/\/www.hostbooks.com\/in\/hb\/all-rules\/rule-6e-limits-reserve-unexpired-risks\/","title":{"rendered":"Rule &#8211; 6E, Limits of reserve for unexpired risks"},"content":{"rendered":"<p><strong>6E.<\/strong> In the computation of profits and gains of any business of insurance other than life insurance, the amount carried over to a reserve for unexpired risks including any amount carried over to any such additional reserve which is to be allowed as a deduction under clause (c) of rule 5 of the First Schedule, shall not exceed\u2014<\/p>\n<p style=\"padding-left: 30px;\"><sup>78<\/sup>[(a) where the insurance business relates to fire insurance or engineering insurance and which provides insurance for terrorism risks, 100 per cent of the net premium income of such business of the previous year;<br \/>\n(aa) where the insurance business relates to fire insurance or miscellaneous insurance other than the insurance business covered under clause (a), 50 per cent of the net premium income of such business of the previous year;]<br \/>\n(b) where the insurance business relates to marine insurance, 100 per cent of the net premium income of such business of the previous year:<br \/>\n<strong>Provided<\/strong> that any amount out of the amount carried over to such reserve or additional reserve which is not allowed as a deduction under this rule in respect of any previous year shall not be included in the total income for the assessment year relevant to the immediately next succeeding previous year in the revenue account relating to which the amount aforesaid is credited.<\/p>\n<p><sup>79<\/sup>[Explanation.\u2014For the purposes of this rule,\u2014<\/p>\n<p style=\"padding-left: 30px;\">(a) \u201cnet premium income\u201d means the amount of premium received as reduced by the amount of reinsurance premium paid during the relevant previous year;<br \/>\n(b) \u201cmarine insurance\u201d includes the Export Credit Insurance.]<\/p>\n<p>Reference: www.incometaxindia.gov.in<\/p>\n","protected":false},"excerpt":{"rendered":"<p>6E. In the computation of profits and gains of any business of insurance other than<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":68,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1439,1440],"tags":[],"yst_prominent_words":[6929,6927,831,1080,403,6924,1121,2047,833,477,952,6310,564],"_links":{"self":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/5274"}],"collection":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/users\/68"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/comments?post=5274"}],"version-history":[{"count":0,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/5274\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/media?parent=5274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/categories?post=5274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/tags?post=5274"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/yst_prominent_words?post=5274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}