Section 124 of the Indian Contract Act of 1872 makes life insurance a contract of indemnity. An indemnity holder is permitted to collect all losses that he may have been forced to pay in any suit relating to any subject specified in the agreement.
For financial investors, the RPT (related party transaction) framework can be an important consideration when evaluating investment opportunities. The level of transparency and disclosure required for related party transactions can provide valuable information about the risks associated with investing in a company.
Depreciation may be claimed under the Income Tax Act for purchases made by an assessee during the financial year in furniture, equipment, and machinery. For a corporate entity, depreciation on computers and computer resources may be a substantial source of corporate tax savings.
