Notes to Form A-RA and A-PL
(a) Premium income received from business concluded in and outside India
shall be separately disclosed.
(b) Re-insurance premium whether on business ceded or accepted are to be
brought into account gross (i.e. before deducting commissions) under the
head reinsurance premiums. :
(c) Claims incurred shall comprise claims paid, specific claims settlement
costs wherever applicable and change in the outstanding provision for
claims at the year-end.
(d) Items of expenses and income in excess of one percent of the total
premiums (less reinsurance) or Rs.5,00,000 whichever is higher, shall be
shown as a separate line item.
(e) Fees and expenses connected with claims shall be included in claims.
(f) Under the sub-head "others" shall be included items like foreign
exchange gains or losses and other items.
(g) Interest, dividends and rentals receivable in connection with and
investment should be stated as gross amount the amount of income tax
deducted at source being included under advance taxes paid and taxes
deducted at source"
(h) Income from rent shall include only the realized rent. It shall not include
any notional rent.
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