cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f

l;=P= lgd{n >]i7

kl/R5]b !(= a}+lsË tyf aLdf Joj;fo ;DaGwL

ljz]if Joj:yf (Special Provision for Banking and Insurance Business)
a}+lsË Joj;fosf] lgldQ ljz]if Joj:yf
d'Vo zAbfjnL M
-s_ cfos/ P]g @)%* sf] bkmf %( sf] k|ltaGwfTds jfSof+z cg';f/
“a}+lsË Joj;fo” eGgfn] k|rlnt sfg'g adf]lhd a}lsË
sf/f]af/ ug{ :jLs[lt k|fKt a}+s tyf ljQLo ;
+:yfx¿n] ;~rfng u/]sf] a}lsË sf/f]af/ ;Demg' k5{ .
ljBdfg sfg'g adf]lhd g]kfn /fi6« a}+saf6 :jLs[t k|fKt u/]/ dfq
a}+lsË sf/f]af/ ;~rfng ug{ ;lsG5 . P]gsf] bkmf %( sf]
pkbkmf -!_ adf]lhd a}+lsË Joj;fo ;~rfng ug]{ s'g}
JolQmsf] s'g} cfo jif{df ;f] Joj;foaf6 k|fKt x'g] cfo jf
gf]S;fgLsf] u0fgf ubf{ ;f] JolQmn] ;~rfng u/]sf] cGo
Joj;foeGbf a}+lsË Joj;fonfO{{ leGg Joj;fosf] ¿kdf
dfgL 5'§} u0fgf ug'{ kg]{5 .
-v_ljQLo ;+:yf eGgfn] g]kfn /fi6« a}+s P]g, @)%* sf] bkmf @
sf] v08 -5_ cg';f/ s[lif, ;xsf/L, pBf]u jf cGo s'g} vf; cfly{s k|
of]hgsf nflu shf{ lbg] jf ;j{;fwf/0faf6 lgIf]k ;+sng ug]
{ p2]Zon] k|rlnt sfg'g adf]lhd :yfkgf ePsf] ljQLo ;
+:yf ;Demg' kb{5 / ;f] zJbn] g]kfn ;/sf/n] g]kfn /fhkqdf ;"rgf
k|sfzg u/L ljQLo ;+:yf egL tf]lslbPsf] ;+:yf ;d]tnfO{{ hgfpF5
.
-u_ljQLo sf/f]af/ jf a}lsË Joj;fo eGgfn] a}+s tyf ljQLo ;
+:yf ;DaGwL P]g, @)^# sf] bkmf $& df pNn]v eP cg';f/
d'Vo ?kn] dfu ugf{;fy jf s'g} lgwf{l/t ;dokl5 k|rlnt tl/sf cg';f/
Aofh jf lagf Aofhdf lgIf]k :jLsf/ ug]{ tyf To:tf] lgIf]ksf]
e'QmfgL lbg], shf{ nufgL ug]{ h:tf sfd sf/afxL ;Demg' kb{5
.

hf]lvd Joxf]g]{ sf]if ;DaGwL Joj:yf

%(-!s_ g]kfn /fi6« a}+sn] tf]s]sf] dfkb08sf] cwLgdf
/xL a}lsË Joj;fo ;~rfng ug]{ JolQmn] hf]lvd Joxf]g]
{ sf]ifdf /fv]sf] c;'n x'g afFsL C0f /sd tyf u}/
a}lsË ;DklQafkt Joj:yf ul/Psf] /sd ;d]tsf] a9Ldf kfFr
k|ltzt;Ddsf] /sdnfO{{ vr{sf] ¿kdf s§L ul/g]5 .

1
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

%(-!v_ ;xsf/L ;+:yfn] hf]lvd Joxf]g]{ sf]ifdf /fv]sf] c;'n

x'g afFsL C0f /sdsf] kfFr k|ltzt;Ddsf]
/sdnfO{{ vr{sf] ¿kdf s§L ul/g]5 .
%(-!u_ pkbkmf -!s_ / -!v_ adf]lhd hf]lvd Joxf]g]{ sf]if
sfod /x]sf] cj:yfdf gp7\g] cf;fdL egL d'gfkmfaf6
vr{ n]lvPdf ldGxf x'g] 5}g / To:tf] sf]ifdf /x]sf] /sd
k'FhLs[t ul/Pdf jf d'gfkmf jf nfef+z afF8kmfF8
ul/Pdf h'g jif{ afF8kmfF8 ul/Psf] 5 ;f]xL jif{sf] cfodf
;dfj]z ul/g]5 .
pbfx/0f !(=@=! M dfgf}+, Go" a}+s ln=sf] cfly{s jif{ @)
%&.%* sf] cGtdf s'n shf{ aSof}tf tyf hf]lvd Joxf]g]{ sf]ifdf
qmdzM ?=!,%),)),))).– tyf ?=^,#),))).–/x]5 . ;f]dWo]] cfos/ k|
of]hgsf] nflu ?=$,%),))).– ldGxf ePsf] /x]5 -cf=j=@)%&.
%* ;Dd s'n shf{sf] a9Ldf # k|ltzt dfq ldGxf x'g]_ . cfly{s
jif{ @)%*.%( sf] cGtdf pQm a}+ssf] s'n shf{ aSof}tf ?=@,%
%,)),))).– /x]5 tyf hf]lvd Joxf]g]{ sf]ifdf ?=!$,)),))).– /x]5 eg]
P]gsf] bkmf %(-!s_ adf]lhd ;f] a}+sn] hf]lvd Joxf]g]{ sf]if afkt
lgDgfg';f/sf] /sd vr{ bfaL ug{ kfpg] x'G5 M
s_ cfly{s jif{ @)%*.%( sf] cGtdf s'n shf{ aSof}tf ?=@,%
%,)),))).–
v_ s'n shf{sf] % k|ltztn] x'g] /sd ?=!@,&%,))).–
u_ hf]lvd Joxf]g]{ sf]ifdf hDdf /x]sf] /sd ?=!$,)),))).–

3_ cfly{s jif{ @)%&.%* sf] cGtdf hf]lvd Joxf]g]{ sf]ifdf

hDdf /x]sf] /sd ?=^,#),))).– dWo] s'n aSof}tf shf{ ?=!,
%),)),))).– sf] # k|ltztn] x'g] /sd ?=$,%),))).– cfos/ k|of]hgsf]
lgldQ 5'6 ePsf] .
ª_ cfly{s jif{ @)%*.%( df gfkmf gf]S;fg lx;fadf ?=&,&),))).– vr{
n]lvPsf] -?=!$,)),)))–?=^,#),)))_ .
r_ cfly{s jif{ @)%*.%( df gfkmf gf]S;fg lx;fadf ?=&,&),))).– vr{
n]lvPsf] eP tfklg bfaL ug{ ;Sg] /sd ?=*,@%,))).–, -v08 -v_ df
plNnlvt /sd ?=!@,&%,))).– af6 v08 -3_ df plNnlvt /sd ?=$,
%),))).– 36fpFbf x'g cfpg] /sd_
Example 19.2.1: Suppose, at the end of FY 2057/58, New Bank Limited has loans outstanding and
loan loss provision Rs. 15,000,000 and Rs. 630,000 respectively. Out of that, Rs. 450,000 has been
allowed for deduction for income tax purpose (only up to 3% of total loans until FY 2057/58 ). At the
end of FY 2058/59, the Bank has loans outstanding Rs. 25,500,000 and loan loss provision Rs.

2
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

1,400,000. The Bank can deduct following amounts as loan loss provision as per section 59(1A):
a. Loans outstanding a the end of FY 2058/59 Rs. 25,500,000
b. 5% of total loans Rs. 1,275,000
c. Total Loan loss provision Rs. 1,,400,000
d. Loan loss provision allowed for deduction is 3% of Rs. 15,000,000 i.e. Rs. 450,000 out of
actual loan loss provision Rs. 630,000 at the end of FY 2057/58.
e. The loan loss expenses accounted in books in FY 2058/59 is Rs. 770,000 (1,400,000-
630,000).
f. Although, the loan loss expenses booked is Rs. 770,000 in FY 2058/59, the Loan loss
provision allowed for deduction in FY 2058/59 is Rs. 825,000 (1,275,000-450,000).

pbfx/0f !(=@=@ M dfgf}+, dfly pbfx/0f !(=@=! df pNn]v

ePsf] Go" a}+s ln=sf] cfly{s jif{ @)%(.^) sf] cGtdf s'n
shf{ aSof}tf tyf hf]lvd Joxf]g]{ sf]ifdf qmdzM ?=@,$),)),))).–
tyf ?=!$,%),))).– /x]5 . cfly{s jif{ @)%(.^) df P]gsf] bkmf %(-!
s_ adf]lhd ;f] a}+ssf] hf]lvd Joxf]g]{ sf]ifsf] cj:yf lgDgfg';f/
x'g]]5 M
s_ cfly{s jif{ @)%(.^) sf] cGtdf s'n shf{ aSof}tf ?=@,
$),)),))).–
v_ s'n shf{sf] % k|ltztn] x'g] /sd ?=!@,)),))).–
u_ hf]lvd Joxf]g]{ sf]ifdf hDdf /x]sf] /sd ?=!$,%),))).–
3_ cfly{s jif{ @)%*.%( sf] cGtdf hf]lvd Joxf]g]{ sf]ifdf hDdf
/x]sf] /sd ?=!$,)),))).– dWo] s'n aSof}tf shf{ ?=@,%%,)),))).–
sf] % k|ltztn] x'g] /sd ?=!@,&%,))).– cfos/ k|of]hgsf] lgldQ
5'6 ePsf] .
ª_ cfly{s jif{ @)%(.^) df gfkmf gf]S;fg lx;fadf ?=%),))).–
vr{ n]lvPsf] -?=!$,%),)))–?=!$,)),)))_ .
r_ cfly{s jif{ @)%(.^) df gfkmf gf]S;fg lx;fadf ?=%),))).–
vr{ n]lvPsf] eP tfklg bkmf %(-!s_ adf]lhd bfaL ug{ ;Sg] s'n
/sd ?=!@,)),))).– dfq ePsf] / ljut jif{df ?=!@,&%,))).– vr{ bfaL
u/L;s]sf] x'Fbf ;LdfeGbf a9L bfaL ePsf] ?=&%,))).– cf=j=@)%
(.^) df cfos/ k|of]hgsf] lgldQ cfodf ;dfj]z ug'{ kb{5 .
Example 19.2.2: Suppose, in example 19.2.1, at the end of FY 2059/60, New Bank Limited has loans
outstanding and loan loss provision Rs. 24,000,000 and Rs. 1,450,000 respectively. The Bank can
deduct following amounts as loan loss provision as per section 59(1A):
a. Loan outstanding at the end of FY 2059/60 Rs. 24,000,000
b. 5% of total loans and advances Rs. 1,200,000
c. Loan loss provision Rs. 1,450,000
d. Loan loss provision allowed for deduction in income tax is 5% of Rs. 25,500,000 i.e. Rs.
1,275,000 out of actual loan loss provision Rs. 1,400,000 at the end of FY 2058/59.
e. Loan loss provision expneses booked in FY 2059/60 is Rs. 50,000 (1,450,000- 1,400,000)
f. Although, the loan loss expenses booked is Rs. 50,000 in FY 2059/60, the loan loss provision

3
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

that can be claimed under section 59(1A) is Rs. 1,200,000 and Rs. 1,275,000 has already been
claimed in earlier year so the clam amount in excess of the limit Rs. 75,000 shall be included
in income for income tax purpose in FY 2059/60.

pbfx/0f !(=@=# M dfgf}+, Go" a}+s ln= sf] cfly{s

jif{ @)&).&! sf] cGtdf s'n shf{ aSof}tf, u}/ a}+lsË ;DklQ tyf
hf]lvd Joxf]g]{ sf]ifdf qmdzM ?=@,#),)),))).–, ?=@),)),))).–
tyf ?=!$,)),))).–/x]5 . To:t}, cfly{s jif{ @)&!.&@ sf] cGtdf s'n
shf{ aSof}tf, u}/ a}+lsË ;DklQ tyf hf]lvd Joxf]g]{ sf]ifdf
qmdzM ?=@,$),)),))).–, ?=@),)),))).–tyf ?=!$,%),))).–/x]5 .
cfly{s jif{ @)&!.&@ df P]gsf] bkmf %( -!s_ adf]lhd ;f] a}+ssf]
hf]lvd Joxf]g]{ sf]ifsf] cj:yf lgDgfg';f/ x'g]]5 M
s_ cfly{s jif{ @)&!.&@ sf] cGtdf s'n shf{ aSof}tf ?=@,
$),)),))).–
v_ cfly{s jif{ @)&!.&@ sf] cGtdf u}/ a}+lsË ;DklQ ?
=@),)),))).–
u_ s'n shf{ tyf u}/ a}+lsË ;DklQsf] % k|ltztn] x'g] /sd ?=!
#,)),))).–
3_ hf]lvd Joxf]g]{ sf]ifdf hDdf /x]sf] /sd ?=!$,%),))).–
ª_ cfly{s jif{ @)&).&! sf] cGtdf hf]lvd Joxf]g]{ sf]ifdf hDdf
/x]sf] /sd ?=!$,)),))).– dWo] s'n aSof}tf shf{ ?=@,#),)),))).– sf]
% k|ltztn] x'g] /sd ?=!!,%),))).– cfos/ k|of]hgsf] lgldQ 5'6 ePsf]
. -gf]6M cf=j= @)&).&! ;Dd bkmf %(-!s_ sf] k|of]hgsf] lgldQ
u}/ a}+lsË ;DklQ ;dfj]z gx'g]_
r_ cfly{s jif{ @)&!.&@ df gfkmf gf]S;fg lx;fadf ?=%),))).–
vr{ n]lvPsf] -?=!$,%),)))–?=!$,)),)))_ .
5_ cfly{s jif{ @)&!.&@ df gfkmf gf]S;fg lx;fadf ?=%),))).– dfq
vr{ n]lvPsf] eP tfklg bkmf %(-!s_ adf]lhd bfaL ug{ ;Sg] s'n /sd
?=!#,)),))).– ePsf] / ljut jif{df ?=!!,%),))).– vr{ bfaL ul/;s]sf]
x'Fbf ;Ldfleq x'g cfpg] yk /sd ?=!,%),))).– cf=j= @)&!.&@ df
cfos/ k|of]hgsf] lgldQ s§L bfaL ug{ ;lsG5 .
Example 19.2.3: Suppose, at the end of FY 2070/71, New Bank Limtied has loans outstanding, non-
banking assets and loan loss provision amounts as Rs. 23,000,000, Rs. 2,000,000 and Rs. 1,400,000
respectively. Simialarly, at the end of FY 2071/72, New Bank Limtied has loans outstanding, non-
banking assets and loan loss provision amounts as Rs. 24,000,000, Rs. 2,000,000 and Rs. 1,450,000
respectively. The loan loss provision of the Bank as per section 59(1A) will be as below:
a. Loans outstanding at the end of FY 2071/72 Rs. 24,000,000
b. Non-banking assets at the end of FY 2071/72 Rs. 2,000,000
c. 5% of total loans and non-banking assets Rs. 1,300,000

4
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

d. Total loans loss provision Rs. 1,450,000

e. For FY 2070/71, out of the total loan loss provision Rs. 1,400,000, 5% of Rs. 23,000,000 i.e.
Rs. 1,175,000 was allowed for deduction in income tax. (Note: until FY 2070/71, non-banking
assets was not included for the purpose of section 59(1A) of the Act)
f. The loan loss expenses booked in FY 2071/72 is Rs. 50,000 (1,450,000-1,400,000).
g. Although, the loan loss expenses booked is Rs. 50,000 in FY 2071/72, the loan loss provision
that can be claimed under section 59(1A) is Rs. 1,300,000 and Rs. 1,150,000 has already been
claimed in earlier year so the claim amount for deduction in income tax in FY 2071/72 will be
within the limit i.e. Rs. 150,000.

shf{ ckn]vgM
@%-@_ s'g} JolQmn] b]xfosf cj:yfdf dfq s'g} /sd k|fKt
ug]{ clwsf/ Tofu ug{ jf ;f] JolQmsf] C0f
bfaLnfO{{ 8'j]sf] C0fsf] ¿kdf ckn]vg ug{ kfpFg]5
M–
P]gsf] bkmf @% sf] pkbkmf -@_ sf] v08 -s_ df a}+lsË Joj;fo
ug]{ JolQmn] shf{ ckn]vg ;Gbe{df lgDgfg';f/sf] Joj:yf u/]sf] 5
M–
@%-@_ s'g} JolQmn] b]xfosf cj:yfdf dfq s'g} /sd k|fKt
ug]{ clwsf/ Tofu ug{ jf ;f] JolQmsf] C0f
bfaLnfO{{ 8'j]sf] C0fsf] ¿kdf ckn]vg ug{ kfpFg]5
M–
-s_ s'g} ljQLo ;+:yf jf a}+ssf] C0f bfaLsf
xsdf ;f] C0f bfaL tf]lsPsf] dfkb08 cg';f/
8'j]sf] C0fdf kl/0ft ePdf, /
To:t}, P]gsf] bkmf $) sf] pkbkmf -#_ v08 -u_ sf] pkv08 -!_
adf]lhd b]xfosf cj:yfdf C0f bfaL ePsf] ;DklQ lgM;u{ ePsf] dflgg]
Joj:yf /x]sf] 5 M–
“a}+s jf ljQLo ;+:yfsf] C0f bfaLsf] ;DaGwdf tf]lsP
adf]lhdsf dfkb08 cg';f/ v/fa C0f x'g k'u]sf]df”
cfos/ lgodfjnLsf] lgod ( df 8'a]sf] jf v/fa C0fdf kl/0ft x'g]
dfkb08 lgDgfg';f/ tf]s]sf] 5 M
lgod ( P]gsf] bkmf @% sf] pkbkmf -@_ sf] v08 -s_ /
bkmf $) sf] pkbkmf -#_ sf] v08 -u_ sf] pkv08 -!_ sf] k|
of]hgsf] nflu a}+s jf ljQLo ;+:yfsf] C0f 8'a]sf] jf v/fa
C0fdf kl/0ft x'g] ;DaGwdf g]kfn /fi6« a}+sn] lgwf{/0f
u/]sf] dfkb08 cg';f/ x'g]5 .
pbfx/0f !(=@=$ M dfgf}+, Go" a}+s ln= sf] cf=j=@)^
%.^^ sf] cGtdf s'n shf{ aSof}tf Pjd\ g]kfn /fi6« a}+ssf] lgb]
5
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

{zg adf]lhd ckn]vg ul/g'kg]{ shf{sf] cj:yf lgDgfg';f/ /x]5 M

1. ckn]vg ug'{eGbf cufl8sf] s'n shf{ ?= 1,00,00,00,000
2. ckn]vg ul/g] shf{ ?= 6,00,00,000
3. ckn]vg ul/;s]kl5 x'g] shf{sf] df}Hbft ?= 94,00,00,000
pQm a}+ssf] shf{ ckn]vg ubf{ g]kfn /fi6« a}+sn] tf]lslbPsf]
dfkb08leq /xL ckn]vg u/]sf] /x]5 / P]gsf] bkmf %(-!s_ cGtu{t
hf]lvd Joxf]g]{ sf]ifsf] afkt vr{ bfaL u/]sf] /x]g5 . o; cj:yfdf pQm
a}+sn] ckn]vg u/]sf] shf{ ?=^ s/f]8 o; bkmf cGtu{t vr{sf]
¿kdf s§L bfaL ug{ kfpFg]5 .
Example 19.2.4: Suppose, at the end of FY 2065/66, New Bank Limited has total loans outstanding
and loans to be written off amount as per directives of Nepal Rastra Bank are as below:
1. Total loans before write off Rs. 1,000,000,000
2. Loans to be written off Rs. 60,000,000
3. Loans after loan write off Rs. 940,000,000
The Bank has written off loans within the guidelines issed by Nepal Rastra Bank and has not claimed
as loan loss provision under section 59(1A) of the Act. In this case, the Bank can claim deduction of
loans written of Rs. 6 crore under this section(Section 25).

pbfx/0f !(=@=% M dfgf}+, Go" a}+s ln= n] P]gsf] bkmf %

(-!s_ adf]lhd hf]lvd Joxf]g]{ sf]if afkt vr{ bfaL ug]{ u/]sf] . ;f]
a}+ssf] cf=j=@)^%.^^ sf] cGtdf s'n shf{ aSof}tf, hf]lvd
Joxf]g]{ sf]if Pjd\ ckn]vg u/]sf] shf{sf] cj:yf lgDgfg';f/ /x]5 M
1. ckn]vg ug'{eGbf cufl8sf] s'n shf{ ?=
1,00,00,00,000
2. ckn]vg ul/Psf] shf{ ?=
1,00,00,000
3= ckn]vg ul/;s]kl5sf] shf{sf] df}Hbft ?=
99,00,00,000
4. g]kfn /fi6« a}+ssf] lgb]{zg adf]lhd hf]lvd Joxf]g]{ sf]ifdf
afFsL Joj:yf ?= 4,10,00,000
5. cf=j= @)^$.^% ;Dd sfod Joj:yf ?=
3,70,00,000
o; a}+sn] P]gsf] bkmf %(-!s_ sf] Joj:yf cg';f/ cfos/ k|of]hgsf]
nflu hf]lvd Joxf]g]{ sf]ifdf /fVg] ;'ljwf lnPsf] 5 . pQm Joj:yf
ckgfpg] JolQmn] P]gsf] bkmf @%-@_ sf] Joj:yf cg';f/ l;w}
gfkmf gf]S;fg vftfdf ckn]vg afkt vr{ n]Vg kfpFb}g . g]kfn /fi6«
a}+ssf] lgb]{zg cg';f/ clgjfo{ ¿kdf ckn]vg ug'{kg]{ / >]:tfaf6
x6fpg' kg]{ C0fsf] ckn]vg ubf{ pQm C0f afktsf]
/sdnfO{{ hf]lvd Joxf]g]{ sf]ifdf cfDbfgL afFwL vr{ n]Vg' kb{5 .
6
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

o;/L vr{ n]Vbf ckn]vg afkt vr{ n]lvPsf] /sd / hf]lvd Joxf]g]
{ sf]ifdf /x]sf] /sdsf] of]u ckn]vg ug'{k"j{sf] c;'n x'g afFsL
C0f /sdsf] % k|ltzt eGbf a9L ePdf a9L ePhlt /sd cfos/ k|of]hgsf]
nflu vr{ bfaL ug{ kfOb}g . o; pbfx/0fdf ckn]vg ug'{eGbf
cufl8sf] s'n shf{ ?=!,)),)),)),))).– / g]kfn /fi6« a}+ssf] lgb]{zg
cg';f/ clgjfo{ ¿kdf ckn]vg u'g{kg]{ shf{ ?=!,)),)),))).– 5 tyf
g]kfn /fi6« a}+ssf] lgb]{zg adf]lhd hf]lvd Joxf]g]{ sf]ifdf afFsL
Joj:yf ?=$,!),)),))).– /x]sf] 5 . a}+sn] shf{ ckn]vg afktsf] /sd ?
=!,)),)),))).– / g]kfn /fi6« a}+ssf] lgb]{zg adf]lhd hf]lvd Joxf]g]
{ sf]ifdf /x]sf] Joj:yf ?=$,!),)),))).– x'Fbf s'n ?=%,!),)),))).– x'g
cfpF5 . a}+sn] P]gsf] bkmf %( -!s_ sf] Joj:yf cjnDag u/]sf]
x'Fbf ckn]vg ug'{eGbf cufl8sf] s'n shf{ ?=!,)),)),)),))).– ePsf]
x'Fbf ;f] afkt ?=%,)),)),))).– ;Dd vr{ bfaL ug{ kfpF5 . a}+sn]
ckn]vg afkt / hf]lvd Joxf]g]{ sf]ifdf u/]sf] Joj:yfsf] s'n /sd ?=
%,!),)),))).– ePsf] x'Fbf ?=!),)),))).– vr{sf] ¿kdf bfaL
ug{ kfpFb}g .
Example 19.2.5: Suppose, New Bank Limited has claimed deduction of loan loss provision as per
section 59(1A) of the Act. At the end of FY 2065/66, the details of total loans, loan loss provision and
loans write off were as below:
1. Total loans before write off Rs. 1,000,000,000
2. Loans to be written off Rs. 10,000,000
3. Loans after loan write off Rs. 990,000,000
4. Loan loss provision as per the directives of Nepal Rastra Bank Rs. 41,000,000
5. Loan loss provision at the end of FY 2064/65 Rs. 37,000,000
The Bank has availed facility of loan loss provision under section 59(1A) of the Act for the purpose of
income tax. The person adopting that provision cannot claim loan write off directly in profit or loss
account as per section 25(2) of the Act. As per the directions of Nepal Rastra Bank, when the loans
are written off and removed from the books, the loan loss provision in respect of written off loans
must be included in income and loan write off as expense. When claiming expenses, if the sum of loan
write off expenses and amount of loan loss provision is in excess of 5% of the total loans before write
off then such excess amount shall not be allowed for deduction in income tax.
In this example, the loans before loan write off is Rs. 1,000,000,000 and loans to be writte off and
loan loss provision amount as per directions of Nepal Rastra Bank is Rs. 10,000,000 and Rs.
41,000,000 respectively. The sum of loan wirte off amount Rs. 10,000,000 and loan loss provision
amount Rs. 41,000,000 will be Rs. 51,000,000. As Bank has claimed deduction under section 59(1A),
the 5% of loans before write off Rs. 1,000,000,000 which will be Rs. 50,000,000 shall be the
maximum amount allowed for deduction. The sum of loan write off amount and loan loss proviosn
amount Rs. 51,000,000 is in excess of maximum limit by Rs. 1,000,000 so this excess amount shall
not be allowed for deduction.

Aofh cfDbfgLsf] u0f

7
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

@$-!_ s'g} JolQmn] s/ k|of]hgsf] nflu o; P]gsf]

cwLgdf /xL Joj;fo jf nufgLaf6 ePsf] cfˆgf] cfosf]
u0fgfsf] n]vfÍg Pqm'on cfwf/df ubf{ e'QmfgL k|
fKt ug]{ clwsf/ l;h{gf x'gf;fy To:tf] e'QmfgL k|fKt
u/]sf] dfgL lghsf] cfosf] u0fgfdf ;dfj]z ug'{ kg]
{5 .
@$-#_ pkbkmf -!_ df h'g;'s} s'/f n]lvPsf] eP tfklg a}
+lsË Joj;fosf ;DaGwdf g]kfn /fi6« a}+s P]g, @)%*
tyf a}+lsË ;DaGwL k|rlnt sfg'gsf] cwLgdf /xL
g]kfn /fi6« a}+sn] tf]s]sf] n]vfÍgnfO{{ ljefun]
dfGotf lbg ;Sg]5 .
t/ ;xsf/L ;+:yfn] Aofh cfosf] n]vfÍg gub
cfwf/df ;d]t ug{ ;Sg]5 .
pbfx/0f !(=@=^ M dfgf}+, Go" a}+s ln= sf] cfly{s jif{ @)^
%.^^ df s'n shf{ aSof}tfsf] Accrual Basis df Aofh u0fgf ubf{ ?
=(,)),)),))).– Aofh cfDbfgL x'g] /x]5 . ;f]dWo] ?=*,%),)),))).–
gubd} c;'n ePsf] /x]5 / afFsL /sd k|fKt gePsf] /x]5 eg] gubdf k|
fKt Aofh ?=*,%),)),))).– dfq cfly{s jif{ @)^%.^^ df cfodf u0fgf
ul/g'k5{ / afFsL /sd ;f] jif{ Aofh d'NtaL (Interest Suspense) lx;fadf
/fVg'kb{5 . o;/L d'NtaL /x]sf] Aofh h'g ;dodf gub k|fKt
x'G5 ;f]xL ;dodf cfodf ;dfj]z ug'{kb{5 . t/, Aofh d"NtaLdf
/x]sf] /sd / p7\g afFsL Aofh /sd eGbf a9L x'g' x'Fb}g .
Example 19.2.6: Suppose, in FY 2065/66, New Bank Limited will have interest income on its total
loans under accrual basis Rs. 90,000,000. Out of this, Rs. 85,000,000 has been received in cash and
remaining amount not received. So, the amount of interest received in cash Rs. 85,000,000 shall be
interest income in FY 2065/66 and remaining amount shall be provisioned in interest suspense
account. The amount in interest suspense account shall be recognized as income in the period of its
receipt in cash. But, interest suspense amount shall not be more than interest receivable amount.

ljb]zL d'b|f sf/f]af/ cfDbfgL

@*-!_ o; P]gsf] k|of]hgsf] nflu s'g} JolQmsf] cfo tyf ;f]
cfo lgwf{/0f ubf{ ;dfj]z ul/g] / s§L ul/g] /sdx?
g]kfnL ?k}ofFafx]s cGo d'b|fdf c+lst ul/Psf] eP
To:tf] /sdnfO{{ g]kfnL ?k}ofFdf kl/jt{g ug{' kg]
{5 .
@*-@_ s'g} JolQmsf] s'g} cfo jif{df cfo u0fgf
ubf{ ;dfj]z ul/g] jf s§L ul/g] /sd g]kfnL ?
8
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

k}ofFafx]s cGo d'b|fdf c+lst ul/Psf]df ;f] /sd k|fKt

ul/Psf], vr{ ul/Psf], lbPsf], a'emfPsf] jf s/ k|
of]hgsf] nflu cGo s'g} lsl;dn] lx;fa ubf{sf avt k|
rlnt ljlgdo b/ cg';f/ ;f] d'b|fnfO{{ g]kfnL ?k}ofFdf
kl/jt{g ug{' kg]{5 .

;fdfGo aLdf Aoj;fosf] lgldQ ljz]if Joj:yf

d'Vo zAbfjnL M
-s_ P]gsf] bkmf @ sf] v08 -skm_ adf]lhd æ;fdfGo aLdfÆ
eGgfn] nufgL aLdf afx]ssf aLdf ;Demg' k5{ .
;fdfGotofM ;fdfGo aLdf eGgfn] 5f]6f] cjlwsf] nflu ul/g]
aLdf a'lemG5 . h:t}, Transit Insurance, Accidental Insurance, Medical
Insurance, Fire Insurance, Motor Insurance, Engineering Insurance, cflb . o:tf
aLdf kf]ln;L ;dfGotofM Ps jif{ jf ;f]eGbf sd cjlwsf nflu
dfq axfn x'g]5 .
-v_ P]gsf] bkmf ^) df plNnlvt :ki6Ls/0f adf]lhd
æbtf{ ePsf] ;fdfGo aLdf Joj;foÆ eGgfn] k|rlnt sfg'g
adf]lhd g]kfndf btf{ eO{ ;fdfGo aLdf sf/f]af/ ug]{ aLdf
Joj;fo ;Demg' k5{ .
g]kfndf aLdf Joj;fo ;~rfng ug{sf] nflu aLdf P]g cGtu{t
/xL aLdf ;ldltaf6 :jLs[lt lng'kg]{ x'G5 .
-u_ “aLds (Insurer)”eGgfn] k|rlnt sfg'g adf]lhd aLdf jf k'gaL{df
Joj;fo ;~rfng ug{ :jLs[lt lnPsf lgsfonfO{{ a'emfpF5 . k|
rlnt aLdf ;DalGwt sfg'g -aLdf P]g, @)$(_ adf]lhd aLdf
Joj;fo ;~rfng ug{ ;+ul7t ;+:yfn] dfq cfj]bg lbg ;Sg] ePsf]
x'Fbf k|fs[lts JolQm aLds x'g ;Sg] 5}gg\ .
-3_ “aLldt (Insured)”eGgfn] aLdf u/fpg] k|fs[lts JolQm jf ;
+:yfnfO{{ a'emfpF5 .

;fdfGo aLdf Joj;fosf] cfo

^)-!_ ;fdfGo aLdf Joj;fo ;~rfng ug]{ s'g} JolQmsf] s'g}
cfo jif{df ;f] Joj;foaf6 k|fKt x'g] cfo jf gf]S;fgL
u0fgf ubf{ ;f] JolQmn] ;~rfng u/]sf] cGo Joj;fo
eGbf aLdf Joj;fonfO{{ leGg Joj;fosf] ¿kdf dfgL
5'§} u0fgf ug'{ kg]{5 .

9
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

;fdfGo aLdfsf] cfo u0fgf ug]{ tl/sf M

^)-@_;fdfGo aLdf Joj;fo ug]{ s'g} JolQmsf] s'g} cfo
jif{sf] cfosf] u0fgf ubf{ b]xfo adf]lhd ug'{ kg]{5
M–
-s_ cfotkm{ o; P]g adf]lhd ;dfj]z ug'{kg]{ s'g}
cGo /sdx?sf cltl/Qm b]xfosf /sdx? klg ;dfj]z
ug'{ kg]{5 M–
-!_ ;f] JolQmn] ;f] jif{df ;f] Joj;fo ;~rfng
u/L k|fKt u/]sf] k'gaL{dfsf] lk|ldod
nufot aLdfsf] lk|ldod afktsf] /sd, /
-@_ k'gaL{df, hdfgt, ;'/If0f jf Ifltk"lt{sf]
s'g} s/f/afkt v08 -v_ sf] pkv08 -!_
adf]lhdsf e'QmfgLaf6 ;f] jif{df k|
fKt /sdx? .
-v_ vr{tkm{ o; P]g adf]lhd s§f ug{ kfpg] /sdsf
cltl/Qm b]xfosf /sdx? klg s§f ug{ kfpg]5 M–
-!_ ;f] Joj;fo ;~rfng ubf{ ;f] JolQmaf6
aLdssf] x}l;otdf ;f] jif{df ul/Psf]
e'QmfgLx?, /
-@_ ;f] jif{ jf ljut jif{df ;f] Joj;foaf6 ePsf]
cfo u0fgf ubf{ v08 -s_ sf] pkv08 -!_
adf]lhd ;dfj]z ul/Psf ;f] jif{df
aLldtnfO{{ lkmtf{ lbOPsf lk|ldodx? .
-#_ hf]lvd Joxf]g]{ sf]ifdf /fv]sf] b]xfo
adf]lhdsf] /sdsf] of]u
-s_ s'g} jif{sf] gfkmf gf]S;fg
lx;fadf b]vfOPsf] v'b aLdf
z'Nssf] krf; k|ltzt;Ddsf] /sd, /
-v_ s'g} jif{sf] cGTodf bfaL
e'QmfgL afkt afFsL /sdsf]]
Ps ;o kGw| k|ltzt;Ddsf] /sd .
t/, o; pkv08 adf]lhd s'g}
jif{ vr{s§L lnPsf] /sd cfufdL cfo
jif{df aLdf Joj;fosf] cfo u0fgf
ubf{ cfodf ;dfj]z ug'{ kg]{5 .

10
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

pbfx/0f !(=#=! M dfgf}, g]kfn aLdf sDkgL ln=sf] cfly{s

jif{ @)^$.^% tyf cf=j=@)^%.^^ df aLdf lx;fa ;DaGwL tYofÍ
lgDgfg';f/ /x]5g\ .
!= cf=j=@)^%.^^ df v'b aLdf lk|ldod ?=
$,)),))).–
@= cf=j=@)^%.^^ df k'gaL{df u/fP afkt k|fKt (Commission
on insurance ceded) ?= @),))).–
#= cf=j=@)^$.^% sf] cGtdf /x]sf] c;dfKt aLdf sf]if ?=
!,%),))).–
$= cf=j=@)^$.^% sf] cGtdf /x]sf] bfaL afkt cg'dflgt
bfloTj ?=@#,))).–
%= cf=j=@)^%.^^ df e'QmfgL ul/Psf] k'gaL{df sldzg
(Commission
on reinsurance accepted) ?= !),))).–
^= cf=j=@)^%.^^ df e'Qmfg ul/Psf] aLdf clestf{ sldzg ?
= !%,))).–
&= Joj:yfkg vr{ ?=
!,)),))).–
*= cf=j=@)^%.^^ sf] aLdf bfaL e'QmfgL ?=
!,)),))).–
(= cf=j=@)^%.^^ df aLdf bfaL k|fKt t/ lgSof]{n eOg;s]sf
bfaL ?= #),))).–
!)= nufgLdf k|fKt Aofh ?=
%),))).–
!!= bfaLof]Uo x|f; vr{ ?=
^),))).–
!@= ljljw cfDbfgL ?= @
%,))).–
pko'{Qm tYofÍsf] cfwf/df g]kfn aLdf sDkgL ln=sf] cfosf]
u0fgf lgDgfg';f/ ug'{kb{5 M
cfodf ;dfj]z x'g] /sd
!= ut jif{sf] c;dfKt hf]lvd hu]8f ?= !,%),))).–

11
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

@= ut jif{sf] bfaL afkt cg'dflgt bfloTj ?=

@#,))).–
#= v'b aLdf lk|ldod ?= $,)),))).–
$= k'gaL{df sldzg cfDbfgL ?=
@),))).–
%= nufgLdf k|fKt Aofh ?=
%),))).–
^= ljljw cfDbfgL ?= @
%,))).–
hDdf -s_M ?=
^,^*,))).–
Go"gM s§L bfaL /sd
!= aLdf bfaL e'QmfgL -bkmf ^)_ ?=
!,)),))).–
@= clestf{ sldzg -bkmf !#_ ?= !
%,))).–
#= k'gaL{df sldzg e'QmfgL -bkmf !#_ ?=
!),))).–
$= Joj:yfkg vr{ -bkmf !#, !$, !^_ ?=
!,)),))).–
%= bfaLof]Uo x|f; vr{ -bkmf !(_ ?=
^),))).–
^= bfaL afkt cg'dflgt bfloTj -#),)))x!!%Ü_ ?=
#$,%)).–
&= o; jif{sf] c;dfKt hf]lvd hu]8f -v'b aLdf lk|ldod ?=$,)),))).–
sf] %)Ü n]_ x'g] /sd -bkmf ^)_ ?=
@,)),))).–
hDdf -v_ M ?= %,!
(,%)).–
cfo -s–v _ ?= !,$*,
%)).–
dfly plNnlvt s§L bfaL ul/Psf] hf]lvd Joxf]g]{ sf]ifdf ;f/]sf] /sd,
cyf{t bfaL afkt cg'dflgt bfloTj ?=#$,%)).–tyf c;dfKt hf]lvd
hu]8f ?=@,)),))).–cf=j=@)^^.^& sf] cfodf ;dfj]z ug'{kb{5 .

12
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

Example 19.3.1: Suppose, Nepal Insurance Company Limited has following account details in
respect of insurance for FY 2064/65 and FY 2065/66:
Rs.
1. Net Insurance Premium for FY 2065/66 400,000
2. Commission on Insurance Ceded for FY 2065/66 (Re-insurance) 20,000
3. Unexpired Insurance Rsik Fund at the end of FY 2064/65 150,000
4. Estimated Liability for claim at the end of FY 2064/65 23,000
5. Commission on re-insurance accepted for FY 2065/66 10,000
6. The agents’ commission paid in FY 2065/66 15,000
7. Management Expense 100,000
8. Payment of the claim for FY 2065/66 100,000
9. Claimed received but undecided for FY 2065/66 30,000
10. Interest income from Investment 50,000
11. Deductible Depreciation 60,000
12. Miscellaneous Income 25,000
On the basis of above details, the income of Nepal Insurance Company Limited shall be computed as
below:
Rs.
1. Unexpired Insurance Fund at the end of FY 2064/65 150,000
2. Estimated Liability for claim at the end of FY 2064/65 23,000
3. Net Insurance Premium for FY 2065/66 400,000
4. Commission on re-insurance Ceded 20,000
5. Interest income from Investment 50,000
6. Miscellaneous Income 25,000
Total (A) 668,000
Less: Deductible Amount
1. Payment of the claim for FY 2065/66 (Section 60) 100,000
2. The agents’ commission (Section 13) 15,000
3. Commission on re-insurance accepted (Section 13) 10,000
4. Management Expense (Section 13,14,16) 100,000
5. Deductible Depreciation (Section 19) 60,000
6. Estimated liability in respect of claim (30,000x115%) 34,500
7. Unexpired Insurance Risk Fund (Net Insurance Premium
Rs.400,000x50%) (Section 60) 200,000
Total (B) 519,500
Income (A-B) 148,500
The claim amount transferred to Risk Fund above or estimated liability for claim Rs. 34,500 and
unexpired risk fund Rs. 200,000 will be include in income in FY 2066/67.

nufgL aLdf Joj;fosf] lgldQ ljz]if Joj:yf

nufgL aLdf Joj;fosf] cfo
^!-!_nufgL aLdf Joj;fo ;~rfng ug]{ s'g} JolQmsf] s'g}
cfo jif{df ;f] Joj;foaf6 k|fKt x'g] cfo jf gf]S;fgLsf]
u0fgf ubf{ ;f] JolQmn] ;~rfng u/]sf] cGo Joj;foeGbf
nufgL aLdf Joj;fonfO{{ leGg Joj;fosf] ¿kdf dfgL
5'§} u0fgf ug'{ kg]{5 .

13
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

P]gsf] bkmf @ sf] v08 -s u_ adf]lhd ænufgL aLdfÆ eGgfn]

b]xfosf s'g} aLdf ;Demg' k5{ M–
-!_ aLldt JolQm jf aLldt JolQmsf] ;Da4 JolQmsf]
d[To';DaGwL 36gfsf xsdf ul/Psf] aLdf,
-@_ aLldt JolQm jf lghsf] ;Da4 JolQmsf] JolQmut
rf]6k6s jf s'g} vf; tj/df c;Ifd x'g] 36gf ;DaGwL
aLdf,
t/ aLdfsf] aLdf ;Demf}tf sDtLdf kfFr jif{;Dd
axfn /xg] jf axfnLsf] ;do ;Ldf gePsf] / s/f/df
plNnlvt ljz]if kl/l:yltx?df afx]s kfFr jif{sf] cjlw
e'Qmfg x'g' cufj} aLdsaf6 cGTo ug{ g;lsg] u/L
ul/Psf] x'g' kg]{5 .
-#_ s'g} /sd jf >[vnfa4 /sdx? eljiodf
aLldtnfO{{ e'QmfgL x'g] u/L ul/Psf] aLdf,
-$_ pkv08 -!_, -@_, jf -#_ cGtu{tsf aLdfsf] k'gaL{df, /
-%_ pkv08 -$_ df plNnlvt k'gaL{dfsf] k'gaL{df .

nufgL aLdfsf] cfo u0fgf ug]{ tl/sf M

^!-@_nufgL aLdf Joj;fo ug]{ s'g} JolQmsf] s'g} cfo
jif{sf] cfosf] u0fgf ubf{ b]xfo adf]lhd ug'{ kg]{5
M–
-s_ b]xfosf /sdx? afx]s o; P]g adf]lhd ;dfj]z
ug{ ;lsg] cGo /sdx? ;dfj]z ug]{ M–
-!_ ;f] JolQmn] ;f] Joj;fo ;~rfng ubf{ lk|ldod
nufot aLdf lk|ldod afktsf] ¿kdf ;f] cfo jif{df
k|fKt u/]sf] k'gaL{dfsf] /sd, /
-@_ k'gaL{df, hdfgt, ;'/If0f jf Ifltk"lt{sf] s'g}
s/f/ afktsf] v08 -v_ sf] pkv08 -!_ adf]lhdsf]
e'QmfgLaf6 ;f] jif{df k|fKt /sdx? .
-v_ b]xfosf /sdx? afx]s o; P]g adf]lhd s§L
ug{ ;lsg] cGo /sdx? s§L ug]{ M–
-!_ s'g} JolQmn] aLdssf] x}l;otdf pQm
Joj;fo ;~rfng ubf{ u/]sf] e'QmfgLx?, /
-@_ aLldtnfO{{ lkmtf{ ePsf] v08 -s_ sf] pkv08
-!_ df plNnlvt lk|ldod .

14
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

^!-#_ pkbkmf -@_ sf] v08 -s_ sf] pkv08 -!_ / -@_ tyf v08
-v_ sf] pkv08 -!_ / -@_ df plNnlvt /sdx? ;f]
JolQmsf] ;DklQ jf bfloTj afktsf cfDbfgL /
vr{ dflgg] 5}g .
^!-$_ s'g} JolQmsf] nufgL aLdf Joj;fosf] nufgL
aLdf ;Demf}tf ;f] JolQmsf] ;DklQ tyf bfloTj dflgg]
5}g .

As per the above provision, the tax based balance sheet of investment insurance business shall be as
below:
Capital and Liabilities Tax Base Assets Tax Base
Share Capital Paid up Capial Amount Depreciable Assets As per annex - 2
Reserve and Profit Tax Paid Taxable Profit Business Assets As per section 38(2)
Investment of Investor:
Premium Paid Up Amount
Insurance Fund Amount included in fund
Other Liabilities As per Section 39(2)
Total Capital & Liabilities Total Assets

dflysf Joj:yf cg';f/ nufgL aLdf Joj;fosf] s/ cfwf/ jf;nft lgDgfg';f/

x'G5 M
k'FhL tyf bfloTj s/ cfwf/ ;DklQ s/
cfwf/
z]o/ k'FhL r'Qmf k'FhLsf] /sd x|f;of]Uo ;DklQ
cg';"lr–@ adf]lhd
hu]8f / gfkmf s/ ltl/Psf] s/of]Uo cfo
nufgLstf{sf] nufgL Jofj;flos ;DklQ bkmf#*-
@_ adf]lhd
lk|ldod r'Qmf ePsf] /sd
aLdf sf]if sf]ifdf ;dfj]z /sd
cGo bfloTj bkmf #(-@_ adf]lhd
hDdf kF'lh tyf bfloTj hDdf ;DklQ

pbfx/0f !(=$=!M dfgf} :jl0f{d hLjg aLdf sDkgL ln=Ps

nufgL aLdf Joj;fo ug{] lgsfo -aLds_ /x]5 . of] cfo jif{sf
nflu ;f] lgsfosf] lgDgfg';f/ tYofÍ /x]5 .

15
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

!= aLdf lk|ldod k|fKt -v'b_ ?=

!),)),))).–
@= s'n aLdf cfn]v d"No ?=
%,)),)),))).–
#= k'gaL{df lnP afkt e'Qmfg u/LPsf] sldzg vr{ ?=
!),))).–
$= k'gaL{df u/fPafkt k|fKt sldzg ?= !
%,))).–
%= nufgL tyf shf{df Aofh cfDbfgL ?=
@),)),))).–
^= cGo ljljw cfDbfgL ?=
$),))).–
&= aLdf sf]ifdf o; jif{ yk ul/Psf] /sd ?= !
%,)),))).–
*= ?=# nfv lk|ldod ltl/;s]sf] Ps kf]lnl; xf]N8/n] kf]ln;L
;dk{0f (policy surrender) ubf{ ul/Psf] e'QmfgL ?=
@,%),))).–
(= ?=%),))).– dfq lk|ldod hDdf u/]sf] Ps kf]ln;L xf]N8/sf]
d[To" ePsf] sf/0f lghsf] xsjfnfnfO{{ e'Qmfg
ug'{k/]sf] /sd ?= $,)),))).–
!)= ?=#)),))).– lk|ldod ltl/;s]sf] Ps aLldtsf] Policy Mature
ePsf] sf/0f af]g; ;lxt e'QmfgL ug'{k/]sf] /sd ?=
%,%),))).–
!!= clestf{ sldzg ?= !,)),))).–
!@= Joj:yfkg vr{ ?=
^,)),))).–
!#= d]l8sn z'Ns ?=
@),))).–
!$= bfaLof]Uo x|f; vr{ ?=
!,)),))).–
pko'{Qm tYofÍsf] cfwf/df pQm aLdssf] cfosf] u0fgf
lgDgfg';f/ x'g] x'G5 .
16
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

;dfj]z ul/g] /sd M

!= Aofh cfDbfgL ?=
@),)),))).–
@= ljljw cfDbfgL ?=
$),))).–
#= k'gaL{df u/fPafkt sldzg ?= !
%,))).–
hDdf -s_ ?= @),%
%,))).–
s§L bfaL of]Uo vr{ M
!= k'gaL{df lnP afkt sldzg vr{ ?=
!),))).–
@= clestf{ sldzg ?= !,)),))).–
#= Joj:yfkg vr{ ?=
^,)),))).–
$= x|f;s§L vr{ ?= !,)),))).–
%= d]l8sn z'Ns ?=
@),))).–
hDdf vr{ s§L -v_ ?=
*#),))).–
Joj;fosf] d'gfkmf / nfe -s–v_ ?=
!#,@%,))).–
aLldtnfO{{ lkmtf{ ul/Psf e'QmfgL s/ k|of]hgdf nfe ;lxtsf]
k'FhL lkmtf{ ;/x Jojxf/ ul/G5 .
o; jif{ e'QmfgL ePsf] aLdf afktsf] /sd
!= Matured policy afkt e'QmfgL ?= %,
%),))).–
k|fKt ePsf] lk|ldod ?=
#,)),))).–
nufgLstf{sf] nfe -bkmf ** adf]lhd nfedf
% k|ltzt s/ nfUg]_ ?= @,
%),))).–
17
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

@= Death claim afkt e'QmfgL ?=

$,)),))).–
k|fKt ePsf] lk|ldod ?= %),))).–
nufgLstf{sf] nfe ?= #,
%),))).–
#= Policy surrender afkt e'QmfgL ?= @,
%),))).–
k|fKt ePsf] lk|ldod ?=
#,)),))).–
gfkmf M-k'FhL ;/xsf] cfDbfgL ePsfn]
s/ gnfUg] t/ bkmf %^-#_ adf]lhd d'gfkmf/lxtsf] nfef+z
ljt/0f x'guPdf Joj;fosf] cfodf ;dfj]z x'g]_ ?=
%),))).–
dflysf] pbfx/0fdf aLdf lk|ldod afkt k|fKt ?=!),)),))).– ;f]
aLdssf] cfo jf Jofj;flos bfloTj jf ;DklQ afktsf] cfDbfgL
dflgb}g . ;f] lk|ldod afktsf] aLdf cfn]v ;Demf}tf d"No (Sum
insured) ?=%,)),)),))).– klg ;f] aLdssf] bfloTj dflgg] 5}g .
P]gsf] Joj:yf cg';f/ aLldtaf6 k|fKt lk|ldod nufotsf /sd /
aLdssf] x}l;otn] aLldtnfO{{ ul/g] e'QmfgL aLdssf] ;DklQ /
bfloTj afktsf cfDbfgL / vr{ gdflgg] x'Fbf To:tf k|flKt /
e'QmfgL Pjd\ ;f] sf/0f x'g] art jf gf]S;fgL s/ k|of]hgsf] lgldQ
cfDbfgL jf s§L dflgb}g .
Example 19.4.1: Suppose, Swarnim Life Insurance Company Limited is an entity (Insurer) doing life
insurance business. The entity has following details for the income year:
Rs.
1. Insurance Premium (net) 1,000,000
2. Total insurance underwriting value 50,000,000
3. Commision paid on re-insurance taken 10,000
4. Commision received on re-insurance 15,000
5. Interest income from investment and loans 2,000,000
6. Other Miscellaneous income 40,000
7. The amount added this year in Insurance Fund 1,500,000
8. Payment for policy surrender by policyholder who has already
paid premium of Rs. 3 lakhs 250,000
9. Payment to beneficiary of the policy on death of policyholder
who has already paid premium of Rs. 50,000 400,000
10. Payment including bonus to policyholder on maturity of the
policy who has paid Rs. 300,000 as premium 550,000

18
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

11. Agent’s commission 100,000

12. Management expenses 600,000
13. Medical Fees 20,000
14. Claim eligible depreciation 100,000
The income of the insurer shall be computed as below on the basis of above details:
Rs.
Amount to be Included:
1. Interest Income 2,000,000
2. Miscellaneous Income 40,000
3. Commission received on re-insurance 15,000
Total (A) 2,055,000
Dedcutible Expenses:
1. Commission paid on re-insurance 10,000
2. Agents’ commission 100,0000
3. Management Expenses 600,000
4. Depreciation 100,000
5. Medical Fees 20,000
Total (B) 830,000
Income from Business (A-B) 1,325,000
The payment for refund to insured shall be considered as refund of capital with gain for tax purpose.
The amount paid in this year for insurance
1. Payment including bonus to policyholder on maturity of the Policy 550,000
Premium received 300,000
Gain to Investor (5% tax applicable as per section 88) 250,000
2. Payment to beneficiary on death of policyholder 400,000
Premium received 50,000
Gain to Investor 350,000
3. Payment for policy surrender 250,000
Premium Received 300,000
Gain: (Income like Capital so not taxable but if distribution
of dividend from other than profit as per section 56(3) shall
be included in business income) 50,000
In above example, insurance premium received Rs. 1,000,000 shall not be considered as income or
business liability or income in respects of assets of the insurer. Sum assured Rs. 50,000,000 as per
insurance underwriting in respect of the premium shall not be considered as liability of insurer. As per
the provisions of the Act, premium received from insured and payment made to to insured in a
capacity of insurer shall not be considered as income and expenses in respect of assets and liabilities
of the insurer so such receipts or payments and gains or losses in respect of that shall not be
considered as income or deductible expenses for tax purposes.

aLdfaf6 k|fKt /sd

-!_ s'g} JolQmsf] cfosf] u0fgf ug]{ k|of]hgsf] nflu ;f]
JolQmn] aLdfaf6 k|fKt u/]sf] /sdsf] ;DaGwdf bkmf
#! Dff pNn]v eP adf]lhd x'g]5 .
-@_ pkbkmf -!_ df h'g;'s} s'/f n]lvPsf] eP tfklg nufgL
aLdfaf6 k|fKt nfe ;DaGwdf b]xfo adf]lhd x'g]5 M–

19
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

-s_ afl;Gbf JolQmn] To:tf] /sd e'QmfgL u/]sf]

cj:yfdf aLldt pk/ clGtd ¿kdf x'g] s/ s§Låf/f s/
nufOg]5, /
-v_ u}/ afl;Gbf JolQmn] To:tf] /sd e'QmfgL
u/]sf] cj:yfdf aLldtsf] cfodf ;f] /sd ;dfj]z u/L
u0fgf ug'{ kg]{5 .
:ki6Ls/0f M o; bkmfsf] k|of]hgsf] nflu ænufgL
aLdfaf6 k|fKt nfeÆ eGgfn] ;f] aLdfsf] ;DaGwdf
s'g} JolQmn] nufgL aLdf afkt k|fKt u/]sf] e'QmfgL
;f] JolQmn] lt/]sf] lk|ldodeGbf a9L ePhltsf]
/sdnfO{{ ;Demg' k5{ .
bkmf#! M aLdf afktsf] e'QmfgL nufot b]xfosf s'/fx?
afkt s'g} JolQm jf ;f] JolQmsf] ;Da4 JolQmn] s'g}
Ifltk"lt{ /sd k|fKt u/]sf]df ;f] Ifltk"lt{ afktsf] /sd
k|fKt u/]sf] ;dodf To:tf] /sd cj:yf cg';f/ /f]huf/L,
Joj;fo jf nufgLaf6 ePsf] cfosf] u0fgf ubf{ ;dfj]z
ug{' kg]{5 M–
-s_ s'g} Joj;fo, /f]huf/L jf nufgLaf6 ;f] JolQmn]
k|fKt u/]sf] jf k|fKt x'g ;Sg] s'g} cfo jf ;f]
cfosf] u0fgfdf ;dfj]z x'g] s'g} /sd afktsf]
Ifltk"lt{, jf
-v_ s'g} Joj;fo jf nufgLdf ;f] JolQmnfO{{ ePsf]
jf x'g;Sg] gf]S;fgL jf ;f] JolQmsf] cfosf]
u0fgf ubf{ s§L x'g] vr{ /sd afktsf] Ifltk"lt{ .
t/,
-!_ afl;Gbf k|fs[lts JolQmsf] JolQmut
b'3{6gfaf6 ePsf] zf/Ll/s Iflt afktsf]
Ifltk"lt{ e'QmfgL /sd cfodf ;dfj]z
ug'{kg]{ 5}g / To:tf] b'3{6gfaf6
ePsf] Ifltsf] pkrf/df nfu]sf] vr{ bkmf
%! adf]lhd s/ ldnfg bfaL ug{ kfpg]
5}g .
-@_ k|fs[lts JolQmsf] d[To' afkt k|fKt x'g]
Ifltk"lt{sf] /sd cfodf ;dfj]z ug'{kg]
{ 5}g .

20
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

pbfx/0f !(=%=!M dfgf}+, t'n;L O06/k|fOh]h sDkgLn]

cfˆgf] :6ssf] ;'/If0fsf] nflu ?=%) nfvsf] aLdf u/]sf] /x]5 . cfo
jif{ @)^$÷^% df pQm sDkgLsf] uf]bfddf cfunflu ePsf] /x]5 /
cfunflusf] ;dodf pQm uf]bfddf ?=#) nfv d"No a/fa/sf]
df}Hbft /x]5 . pQm sDkgLn]]] aLdf sDkgL;Fu ;f] gf]S;fgLsf]
bfaL e'QmfgLsf] nflu cfo jif{ @)^$÷^% df g} lgj]bg
lbO;s]sf] /x]5 . t/ ;f] cf=j=sf] cGTo;Dd klg aLdf sDkgLn]]] ;f]
bfaLaf/] lgSof{}n ul/;s]sf] /x]g5 . o; cj:yfdf ;f] sDkgLn]] P]gsf]
bkmf !% sf] pkbkmf -!_ cGtu{t cfo jif{ @)^$÷^% df o;/L
gf]S;fg ePsf] df}Hbft s§L bfaL ug{ ;Sg]5 . olb pQm aLdf
sDkgLn]] ;f] bfaL afkt cfo jif{ @)^%÷^^ df bfaL :jLsf/ u/L ?
=@% nfv e'Qmfg u/]sf] /x]5 eg] ;f] k"/} /sd cf=j=@)^%.^^
sf] Joj;fosf] cfodf ;dfj]z ug'{k5{ .
Example 19.5.1: Suppose, Tulsi Enterprises Company has done insurance of its stock for its security
for Rs. 50 lakhs. In FY 2064/65, fire occurred in godown of the company and at that time stock of Rs.
30 lakhs was there in godown. The company has given application to insurance company claiming for
payment of the losses in FY 2064/65. But, insurance company did not decided in respect of that claim
until the end of that financial year. In this case, the company can claim loss of stock in FY 2064/65
under section 15(1) of the Act. If the insurance company accepted the claim in FY 2065/66 and paid
Rs. 25 lakhs in respect of that claim then all these amounts shall be included in income from business
in FY 2065/66.

pbfx/0f !(=%=@M dfgf}+, lkkn O06/k|fOh]h sDkgLn] cfkm\

gf] kmlg{r/ tyf sfof{no pks/0f afkt ?=@) nfvsf] aLdf u/fPsf]
/x]5 . cfunflu x'Fbf pQm cfunflusf] ;dodf ;Dk"0f{ kmlg{r/ tyf
sfof{no pks/0f hn]/ sfd gnfUg] ePsf] /x]5 . ;f] cfo jif{df pQm
sDkgLsf]] ;d"x ævÆ sf] x|f; cfwf/ ?=!% nfv /x]5 . aLdf sDkgLn]
;f] bfaLsf] ;d]t lgSof{}n Pjd\ e'QmfgL cf=j=@)^$÷^% df gu/L
cf=j=@)^%÷^^ df dfq u/]sf] /x]5 / ;f] afkt ?=!* nfv e'QmfgL
u/]sf] /x]5 . cf=j=@)^%÷^^ df ;f] sDkgLn] @)^% kf}if
d;fGtleq} ?=!) nfvsf] sfof{no pks/0f tyf kmlg{r/ vl/b
ul/;s]sf] /x]5 eg] ;f] sDkgLn]] cf=j= @)^$÷^% tyf, @)^
%÷^^ df o; ;DaGwdf lgDgfg';f/ n]vfÍg ug'{kb{5 .
cf=j= @)^$÷^% df pQm sDkgLsf]] ;d"x ævÆ
sf] ;Dk"0f{ ;DklQ hn]/ gi6 eO{ ;f] ;a} ;DklQ lgM;u{ ePsf]
cj:yf /x] tfklg lgM;u{af6 s'g} /sd k|fKt gePsf]n] x|f; cfwf/
cyf{t ?=!% nfv sfod g} /xG5 / P]gsf] bkmf !( adf]lhd ?=!%
nfvdf @% k|ltztn] x|f; vr{ s§L bfaL ug{ ;Qm5 .
21
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

cfly{s jif{ @)^%÷^^ df pQm sDkgLn] ;d"x ævÆ cGtu{t ?=!)

nfvsf] ;DklQ @)^% kf}if d;fGtleq vl/b u/]sf] / aLdf
sDkgLaf6 ;d]t ?=!* nfv bfaL e'QmfgL k|fKt ePsf] ;DklQsf] x|f;
cfwf/ tyf lgM;u{ lgDgfg';f/ x'g] x'G5 .
cf=j=@)^$.^% sf] x|f; s§L kl5sf] afFsL x|f; cfwf/ ?=
!!,@%,))).–
@)^%÷^^ df x|f; cfwf/df yk ;dfj]z x'g] /sd ?=
!),)),))).–
hDdf ?= @!,@%,))).–
Go"gM ;DklQsf] lgM;u{af6 k|fKt /sd ?= !*,)),))).–
o; cf=j=sf] cGTosf] afFsL x|f; cfwf/ ?= #,@
%,))).–
Example 19.5.2: Suppose, People Enterprises Company has done insurance of its furniture and office
equipments for Rs. 20 lakhs. During the fire, all the furniture and office equipments got in fire and not
in working condition. The depreciation basis of Pool B assets in that year was Rs. 15 lakhs. The
insurance company did not decided anything about the payment in FY 2064/65 but decided in FY
2065/66 and paid Rs. 18 lakhs for the damages. In FY 2065/66, the company has purchased furniture
and office equipments of Rs. 10 lakhs within the Poush 2065. In this case, the company has to account
above details in FY 2064/65 and FY 2065/66 as below:
In FY 2064/65, all the assets in Pool B is disposed off by way of fire and no amount is received in
respect of such disposal so depreication basis will remain Rs. 15 lakhs and 25% of such amount shall
be claimed as depreciation under section 19 of the Act.
In FY 2065/66, the company has purchased assets of Rs. 10 lakhs under Pool B within Poush 2065
and has received Rs.18 lakhs from insurance company so depreciation basis and dispoal of such assets
will be as below:
In FY 2064/65, the depreciation basis after charging depreciation Rs. 1,125,000
Addition in FY 2065/66 Rs. 1,000,000
Total Rs. 2,125,000
Less: Amount Received from Disposal of Assets Rs. 1,800,000
Depreciation Basis at the end of the year Rs. 325,000

pbfx/0f !(=%=#M dfgf}+, lbjfs/ vlgofFn] g]kfndf btf{ ePsf]

z'e hLjg aLdf sDkgL ln=df ?=%,)),))).– sf] hLjg aLdf kf]ln;L
lnPsf /x]5g\ / ;f]afkt s'n lk|ldod ?=%,%),))).– hDdf u/]sf /x]5g\ .
ldlt @)^^.@.$ df ;f] kf]ln;Lsf] Dofb e'QmfgL (Matured) ePsf]
/x]5 . aLdf ;Demf}tf adf]lhd ;f] aLdf sDkgLn] lghnfO{{ ?=(,
%),))).–e'Qmfg u/]sf] /x]5 . pQm e'QmfgLdf ?=$,)),))).– nfe
ePsf] -?=(,%),)))–?=%,%),)))_ / ;f] nfedf % k|ltztsf b/n] x'g] /sd
s/ nfUb5 / ;f] aLdf sDkgLn] lghnfO{{ e'QmfgLsf] ;dodfg} ?
=@),))).– s/ /sd s§f u/L afFsL ?=(,#),))).– e'Qmfg ug'{kb{5 .

22
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

o;/L s§f ePsf] s/ /sd P]gsf] bkmf ^@ sf] pkbkmf -@_ sf] v08 -s_
tyf bkmf (@ sf] pkbkmf -!_ sf] v08 -u_ adf]lhd clGtd?kn] s/ s§L
ePsf] e'QmfgL dflgG5 / lghsf] cfodf ;dfj]z ug'{ kb}{g .
t/, dflysf] pbfx/0fdf lgh lbjfs/ vlgofFn] g]kfndf btf{ ePsf]
aLds;Fu aLdf gu/fO{ u}/ afl;Gbf JolQm;Fu aLdf u/fPsf] / ;f]xL
a/fa/sf] /sd e'QmfgL ePsf] /x]5 eg] s'n nfe ?=$,)),))).–
nfO{{ g} nufgLsf] cfodf ;dfj]z ug'{kg]{ x'G5 . o; cj:yfdf lghn]
ljb]zdf ;f] e'QmfgLafkt s'g} s/ lt/]sf /x]5g\ eg] ;f] s/ P]gsf]
cwLgdf /xL ldnfg bfaL ug{ kfpg]5g\ . o;/L ljb]zdf lt/]sf] s/ ldnfg
;DaGwL Joj:yf o;} lgb]{lzsfsf] kl/R5]b !$ df lbOPsf] 5 .
Example 19.5.3: Suppose, Diwakar Khaniya has taken life insurance policy of Rs. 500,000 from
Shuva Life Insurance Company Limited registered in Nepal and has deposited premium of Rs.
550,000. As per the insurance agreement, the insurance company has paid him Rs. 950,000. There has
been gain of Rs. 400,000 (950,000-550,000) in that payment and 5% tax i.e. 20,000 shall be deducted
in that gain amount by the insurance company at the time of payment and pays remaining Rs. 930,000
to him. The tax deducted in this way shall be final withholding tax as per section 62(2)(a) and section
92(1)(c) and he shall not include it in his income.
But, if Diwakar Khaniya has taken life insurance policy from non-resident person instead of insurance
company registered in Nepal and same amount has been received then total gain Rs. 400,000 shall be
included in his income from investment. In that case, if he has paid tax in any foreign country then he
claim tax credit as per the Act. The provisions relating to tax credit is given in chapter 14 of this
directive.

Joj;fo uflePsf] sf/0fn] x'g] lgM;u{ ;DaGwL ljz]if Joj:yf

$&s=-!_ a}lsË tyf ljQLo Joj;fo jf aLdf Joj;fo ug]{] Ps} k|
s[ltsf] lgsfox? cfk;df ufleP/ -dh{/ jf PSo'lhzg_
ePdf bkmf %& sf] pkbkmf -@_ sf] v08 -s_, -v_, -
3_, -ª_, -r_ / -5_ tyf ;f]xL bkmfsf] pkbkmf -#_ sf]
Joj:yf nfu" x'g] 5}g .
%&-@_ pkbkmf -!_ df pNn]v eP adf]lhd s'g}
lgsfosf] :jfldTj kl/jt{g ePdf To:tf] kl/jt{g kl5 ;f]
lgsfonfO{{ b]xfosf sfo{ ug{ cg'dlt lbOg] 5}g M–
-s_ :jfldTjsf] kl/jt{g x'g'eGbf cl3 ;f] lgsfoaf6
vr{ ul/Psf bkmf !$ sf] pkbkmf -#_ adf]lhd
cufl8 ;fl/Psf] Aofh s§f ug{,
-v_ :jldTjsf] kl/jt{g x'g'eGbf cl3 ;f]
lgsfonfO{{ x'g uPsf] gf]S;fgL bkmf @)
adf]lhd s§f ug{,

23
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

-u_ :jfldTjsf] kl/jt{gkl5 x'g uPsf] gf]S;fgLnfO{{

bkmf @) sf] pkbkmf -$_ adf]lhd
To:tf] :jfldTjsf] kl/jt{g cl3sf] s'g} cfo jif{df
k5fl8 n}hfg,
-3_ :jfldTj kl/jt{g x'g'cl3 bkmf @$ sf] pkbkmf -
$_ sf] v08 -s_ adf]lhd s'g} /sd jf vr{ afkt
lx;fa u/]sf] / :jfldTjsf] kl/jt{g kl5 ;f] /sd jf
vr{sf] bkmf @$ sf] pkbkmf -$_
adf]lhd ;RrfPsf]df bkmf @$ sf] pkbkmf -$_
adf]lhd ;dfof]hg ug{,
-ª_ :jfldTjsf] kl/jt{g x'g'cl3 bkmf @% sf]
pkbkmf -!_ sf] v08 -v_ adf]lhd s'g} /sdsf]
lx;fa u/]sf] / :jfldTjsf] kl/jt{gkl5 ;f] /sd k|fKt
ug]{ clwsf/ Tofu u/]sf] jf ;f] /sd s'g}
JolQmsf] C0f bfaL ePsf]df To:tf] JolQmn]
pQm C0fnfO{{ 8'a]sf] C0f dfgL ckn]vg
u/]df bkmf @% sf] pkbkmf -!_
adf]lhd ;dfof]hg ug{,
-r_ :jfldTjsf] kl/jt{g x'g'cl3 ;DklQ jf bfloTjsf]
lgM;u{ ubf{ x'g uPsf] 3f6f :jfldTjsf]
kl/jt{gkl5 ;DklQ jf bfloTjsf] lgM;u{af6 k|fKt
cfDbfgLdf bkmf #^ adf]lhd 36fpg,
-5_ :jfldTj kl/jt{g x'g'cl3 bkmf ^) sf] pkbkmf -
@_ sf] v08 -v_ sf] pkv08 -!_ adf]lhd lk|
ldodsf] lx;fa u/]sf]df / :jfldTjsf] kl/jt{gkl5
To:tf] lk|ldod aLldtnfO{{ lkmtf{ lbPdf ;f]
adf]lhd vr{ bfaL ug{ .

s'g} lgsfosf] bkmf %& -#_ adf]lhd :jfldTj kl/jt{g ePdf

To;/L :jfldTj kl/jt{g x'g' cufl8 / k5fl8sf efunfO{{ a]Unfa]Un}
cfo jif{ dflgg] Joj:yf klg bkmf $&s= sf] cj:yfdf nfu" x'Fb}g .
ljutsf gf]S;fgL s§L ;DaGwdf lgDg k|ltaGwfTds Joj:yf nfu" /xG5
M
t/, ufleP/ cl:tTjdf g/x]sf] lgsfosf] s'g} s§L x'g g;s]sf]
gf]S;fgL eP To:tf] gf]S;fgL bfdf;fxLn] cfufdL ;ft jif{df
s§L ug'{ kg]{5 . o;/L ;dfg ls:tfdf gf]S;fgL s§L ug]{ lgsfo

24
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

;f] k"/} gf]S;fgL s§L gub}{ k'gM ljefhg ePdf s§L ePsf]
gf]S;fgL afkt s§L ePsf] /sddf uflePsf] -dh{/ jf PSo'lhzg_
cfly{s ji{fdf sfod /x]sf] s/sf] b/n] s/ ltg'{ kg]{5 .

pbfx/0f !(=^=!M dfgf}, sfe]| a}s ln=n] sf:sL a}+s ln=sf ;a}
z]o/wgLnfO{{ k|To]s !)) lsQf z]o/ a/fa/ () lsQf z]o/ lbO{ sf:sL
a}+s ln=uflePsf] /x]5 . sf:sL a}+s ln=df ?=@ s/f]8 !) nfv s§L
x'g afFsL gf]S;fg /x]5 . uflePsf] jif{ ufleg] sf/f]af/kl5 sfe|] a}
+ssf] gf]S;fgL s§L cufl8sf] s/of]Uo cfo ?=# s/f]8 /x]5 . ufleP/
cl:tTjdf g/x]sf] sf:sL a}+s ln=sf] o:tf] s§L x'g afFsL gf]S;fgL
uflePkl5sf] sfe|] a}+sn] bfdf;fxLn] & jif{df s§L ug{ kfpFb5 .
of] jif{ ?=#) nfvdfq gf]S;fgL s§L ug{ kfpFb5 . ufleP/ cl:tTjdf
g/x]sf] sDkgLsf] ufleg' cufl8 & jif{ ggf3]sf] gf]S;fgLdfq o; Joj:yf
adf]lhd bfdf;fxLdf s§L ug{ kfOG5 .
Example 19.6.1: Suppose, Kavre Bank Limited has acquired Kaski Bank Limited by issuing 90
shares of Kavre Bank Limited for each 100 shares of Kaski Bank Limitd. Kaski Bank Limited has
losses of Rs. 2.10 crore pending to be set off. The taxable profit of Kavre Bank Limited before set off
of losses from the transactions in the year of acquisistion was Rs. 3 crore. The losses not set off of
non-exisiting Kaski Bank Limited can be set off by acquiring Kavre Bank Limited for a period of 7
years on a proportionate basis. Only Rs. 30 lakhs losses can be set off this year. The carried forward
losses of non-exisiting acquired company that is not exceeded period of 7 years before the acquisistion
date can be set off proportionately under this Act.

pbfx/0f !(=^=@M dfgf}, sfe]| a}s ln=n] sf:sL a}+s

ln=sf ;a} z]o/wgLnfO{{ k|To]s !)) lsQf z]o/ a/fa/ () lsQf z]o/
lbO{ sf:sL a}+s ln=uflePsf] /x]5 . sfe|] a}+s ln=df ?=! s/f]8
#) nfv s§L x'g afFsL gf]S;fg /x]5 . uflePsf] jif{ ufleg] sf/f]af/kl5
sf:sL a}+ssf] sf/f]af/ klg ;dflxt ePsfn] sfe|] a}+ssf] gf]S;fgL
s§L cufl8sf] s/of]Uo cfo ?=# s/f]8 /x]5 . uflePkl5 klg cl:tTjdf
/x]sf] sfe|] a}+s ln=sf] o:tf] s§L x'g afFsL gf]S;fgL uflePkl5sf]
bkmf @) sf] Joj:yf adf]lhd gf]S;fgL l;h{gf ePsf] jif{af6 & jif{;Dd
s§L ug{ kfpFb5, bfdf;fxL ul//xg' kb{}g .
Example 19.6.2: Suppose, Kavre Bank Limited has acquired Kaski Bank Limited by issuing 90
shares of Kavre Bank Limited for each 100 shares of Kavre Bank Limitd. Kavre Bank Limited has
losses of Rs. 1.30 crore pending to be set off. The taxable profit of Kavre Bank Limited before set off
of losses from the combined transactions in the year of acquisistion was Rs. 3 crore. The losses of
Kavre Bank Limited that exists after the acquisition can be set off as per section 20 of the Act for a
period for 7 years from the year of occurrence of such losses i.e. proportionate set off not required.

25
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

pbfx/0f !(=^=#M dfgf}, sfe]| a}s ln= n] sf:sL a}+s ln=

sf ;a} z]o/wgLnfO{{ k|To]s !)) lsQf z]o/ a/fa/ () lsQmf z]o/
lbO{ sf:sL a}+s ln=uflePsf] /x]5 . sf:sL a}+s ln=df ?=@
s/f]8 !) nfv s§L x'g afFsL gf]S;fg /x]5 . uflePsf] $ jif{kl5 sfe|]
a}+saf6 k'/fgf sf:sL a}+ssf z]o/wgL ljefhg eO{ hfg] lg0f{o
u/]5g\ . o:tf] cj:yfdf sf:sL a}+s ln=cl:tTjdf xF'bfsf] & jif{;Dd
k'/fgf] gf]S;fg ?=@ s/f]8 !) nfvsf] & efusf] $ efu s§L eO;s]sf]
x'G5 . ljefhgaf6 gofF sDkgL ag]sf] jif{ ;f] s§L eO;s]sf]
gf]S;fgL ?=! s/f]8 @) nfvdf uflePsf] jif{sf] cfos/sf] b/ cg';f/ x'g]
s/ /sd sfe]| a}s ln=n] ltg'{ kb{5 . afFsL /x]sf] s§L gePsf]
gf]S;fgL ?=() nfv klg s§L ug{ kfpFb}g .
Example 19.6.3: Suppose, Kavre Bank Limited has acquired Kaski Bank Limited by issuing 90
shares of Kavre Bank Limited for each 100 shares of Kaski Bank Limitd. Kaski Bank Limited has
losses of Rs. 2.10 crore pending to be set off. After 4 years from the date of acquisition, the
shareholders of Kaski Bank Limited decided to separate from Kavre Bank Limited. In this case, the
4/7th of the losses of last 7 years from the date of acquisition of Kaski Bank Limited will be already set
off. In the year of formation of new company through demerger, tax shall be paid by Kavre Bank
Limited in the losses of Rs. 1.20 crore that has already been set off at the rate applicable in acquisition
year. In addition, the balance of tax pending set off Rs. 90 lakhs shall not be allowed for set off.

$&s=-@_ pkbkmf -!_ adf]lhd lgsfox? ufleO{ ;DklQ /

bfloTjsf] lgM;u{ ePdf b]xfo adf]lhd x'g]5M
-s_ Jofkfl/s df}Hbft tyf Jofj;flos ;DklQsf]
lgM;u{sf] xsdf,–
-!_ lgM;u{sf] tTsfn cl3 ;f] ;DklQ afkt
ePsf] v'b vr{ a/fa/sf] /sd ;f]
lgM;u{ afkt ;f] JolQmn] k|fKt u/]sf]
dflgg]5, /
-@_ pkv08 -!_ df pNn]v eP a/fa/sf]
/sd ;DklQ k|fKt ug]{ JolQmsf] nfut
k/]sf] dflgg]5 .
-v_ x|f;of]Uo ;DklQsf] lgM;u{sf] xsdf,–
-!_ lgM;u{ x'Fbfsf avt cg';"rL–@ sf] bkmf
$ adf]lhd ;d"xsf] 36\bf] k|0ffnLsf]

26
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

afFsL d"No a/fa/sf] /sd ;f] lgM;u{ afkt

k|fKt u/]sf] dflgg]5,
/
-@_
pkv08 -!_ df pNn]v eP a/fa/sf]
/sd ;DklQ k|fKt ug]{ JolQmsf] nfut
k/]sf] dflgg]5 .
-u_ bfloTjsf] lgM;u{sf] xsdf,–
-!_ lgM;u{sf] tTsfn cl3 ;f] bfloTjsf] ahf/
d"No / v'b cfDbfgLdWo] h'g 36L
x'G5 ;f] a/fa/sf] /sd lgM;u{ afkt ;f]
JolQmsf] nfut k/]sf] dflgg]5, /
-@_ pkv08 -!_ df pNn]v eP a/fa/sf] /sd
bfloTj axg ug]{ JolQmn] ;f] bfloTj axg
u/] afkt k|fKt u/]sf] dflgg]5 .
-3_ Joj;fo ufEg] lgsfo jf ufleP/ sfod ePsf]
lgsfon] uflePsf] ;DklQ / bfloTjsf] nfut u0fgf
ubf{ ufleg] lgsfoaf6 ;f] uflePsf]
Joj;fo ;~rfng u/]sf avt -dh{/ jf PSo'lh;g
cufl8_ sfod /x]sf ;DklQ / bfloTj afktsf nfut
dfq v08 -s_, -v_ / -u_ adf]lhd u0fgf ug'{ kg]
{5 .
pbfx/0f !(=^=$M dfgf}, sfe]| a}s ln=n] sf:sL a}+s ln=sf ;a}
z]o/wgLnfO{{ k|To]s !) lsQf z]o/ a/fa/ ( lsQf z]o/ lbO{ sf:sL a}
+s ln= uflePsf] /x]5 . sf:sL a}+s ln= sf lgDg ;DklQ tyf bfloTj
lgDgfg';f/ d"Nodf lgM;u{ ePsf] / sfe|] a}+ssf] nfut k/]sf]
dflgG5 M
Jofj;flos ;DklQ M ufleg'sf] tTsfncl3sf] v'b vr{ -g]6
cfp6uf]O+u_
x|f;of]Uo ;DklQ M ufleg'sf] tTsfncl3sf] cg';"lr–@ sf] bkmf $
adf]lhdsf] 36\bf] k|0ffnLsf] afFsL d"No
Jofj;flos bfloTj M ufleg'sf] tTsfncl3sf] v'b cfDbfgL -g]6
OGsld+u_ / ahf/d"NodWo] h'g 36L x'G5 ;f] /sd
Example 19.6.4: Suppose, Kavre Bank Limited has acquired Kaski Bank Limited by issuing 9 shares
of Kavre Bank Limited for each 10 shares of Kaski Bank Limitd. The following assets and liabilities
of Kaski Bank Limited will be assumed to be disposed off at following values and it will be the cost
of Kavre Bank as below:

27
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

Business Asset: Net Outgoings before acquisition/merger

Depreciable Asset: Written Down Value just before the acquisition/merger computed as per section 4
of the annexure 2 of the Act
Business Liability: Lower of Net Incomings before acquisition/merger and market value

pbfx/0f !(=^=%M dfgf}+, ldlt @)&! df3 # ut] sfe]| a}s

ln=df sf:sL a}+s ln= uflePsf] /x]5 . ;f] ldltdf sf:sL a}+s
ln=sf] ;d'x “v” sf] x|f;of]Uo ;DklQsf] x|f; cfwf/ ?=!),)),))).– /x]5 .
pQm ;DklQsf] cf=j=@)&!.&@ sf] s'n x|f;s§L vr{ @% k|ltztsf
b/n] x'g cfpg] ?=@,%),))).– sf] x|f;s§L vr{ bfaL ubf{ bfdf;fxLn]
sf:sL a}+s ln=sf] !*^ lbgsf] x'g cfpg] x|f; vr{ ?=!,@&,^)#.– /
afFsL !&( lbgsf] x|f;s§L vr{ ?=!,@@,^)#.– sfe]| a}s ln=n] s§L
bfaL ug'{ kb{5 .
Example 19.6.5: Suppose, on 3rd Magh 2071, Kaski Bank Limited was merged in Kavre Bank
Limited. The depreciation basis of Pool B assets of Kaski Bank Limited on that date was 1,000,000.
While claiming depreication expenses Rs. 250,000 at the rate of 25% for the FY 2071/72, the
proportionate amount of 186 days’ depreciation Rs. 127,603 shall be claimed by Kaski Bank Limited
and proportionate amount of 179 days’ depreication Rs. 122,603 shall be claimed by Kavre Bank
Limited.

$&s=-#_ pkbkmf -!_ adf]lhd ufleO{ lgM;u{ ePsf]

lgsfodf jf uflePkZrftsf] lgsfodf sfo{/t sd{rf/Lx?
nfO{{ ;fd"lxs¿kdf ;]jfaf6 cjsfz lbg] k|of]hgsf] nflu
ul/g] yk Psd'i6 e'QmfgLdf -cjsfz sf]if dfkm{t ul/g]
e'QmfgL jf sd{rf/L ;]jf zt{df pNn]v eP cg';f/
ug'{kg]{ e'QmfgL afx]ssf_ cjsfz e'QmfgLdf s/ s§L
ug'{kg]{ b/df krf; k|ltzt 5'6 lbO{ e'QmfgLdf s/
s§L ug'{kg]{5 .
pbfx/0f !(=^=^M dfgf}, sfe]| a}s ln=n] sf:sL a}+s
ln=sf ;a} z]o/wgLnfO{{ k|To]s !) lsQf z]o/ a/fa/ ( lsQf z]o/
lbO{ sf:sL a}+s ln=uflePsf] /x]5 . ufleg] zt{dWo] Pp6f b'j} a}
+ssf ^) k|ltzt sd{rf/LnfO{{ ;fd"lxs cjsf; lbg] / ;f] afkt ;DalGwt
sd{rf/L lgodfjnLdf ePsf] Joj:yf cg';f/sf] ;'ljwfsf cltl/Qm ?
=!,)),))).– lbOg] /x]5 . o:tf] cj:yfdf b'j} lgsfosf cjsfz kfpg]
sd{rf/Lsf] ;f] e'QmfgLdf nfUg] s/df %) k|ltztn] 5'6 lbO{ clu|d s/
s§L ug'{ kb{5 .
cjsfz kfpg] sd{rf/Lsf] yk ;'ljwf -b'j} sDkgLdf_ M
e'QmfgL ePsf] cjsf; /sd ?= !)),))).–

28
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

s/ 5'6 kfpg] /sd -%) k|ltzt_ ?= %),))).–

afFsL /sd ?= %),))).–
e'QmfgLdf s/ s§L -!% k|ltztn]_ ?= &,%)).–
bkmf (@ df ePsf] Joj:yf cg';f/ of] /sd clGtd ljlw cg';f/ s/ nfUg]
cfo xf] .
Example 19.6.6: Suppose, Kavre Bank Limited has acquired Kaski Bank Limited by issuing 9 shares
of Kavre Bank Limited for each 10 shares of Kaski Bank Limitd. One of the term of acquisition was
to initiate group retirement of 60% of the employee and to provide Rs. 100,000 to each of them in
addition to benefits mentioned in the bylaws. In this case, tax deduction on the payment made to each
employee of the both banks shall be at 50% discount rate of applicable tax rate.
Additional Benefits to retired employee (of both banks)
Retirement Amount paid Rs. 100,000
Tax Exempted amount Rs. 50,000
Balance of amount Rs. 50,000
Tax Deduction at Pyament @15% Rs. 7,500
The tax deducted will be final withholding payment under section 92 of the Act.

$&s=-$_ pkbkmf -!_ adf]lhd ufleO{ lgM;u{ ePsf]

lgsfodf sfod /x]sf z]o/wgLx?n] cfkm\gf] z]o/
uflePsf] b'O{ jif{leq cfkm\gf] z]o/ laqmLsf]
dfWodaf6 lgM;u{ u/]df To;/L lgM;u{ ePsf] z]o/df
ePsf] nfedf k'FhLut nfe s/ nfUg] 5}g .
pbfx/0f !(=^=&M dfgf}, sfe]| a}s ln=n] sf:sL a}+s
ln=sf ;a} z]o/wgLnfO{{ k|To]s !) lsQf z]o/ a/fa/ ( lsQf z]o/
lbO{ sfe]| a}s ln= / sf:sL a}+s ln=@)^*.@.@( df Ps cfk;df
uflePsf -dh{/_ /x]5g\ . /d]zhL zfxsf] sf:sL ln=df !))) lsQf z]o/ -
r'Qmf d"No ?=!)).– nfut ?=@)).–_ /x]5 . uflePsf] sf/0f /d]zhLn]
()) lsQf z]o/ k|fKt u/]sf /x]5g\ . /d]zhLn] sfe|] ln=sf] $)) lsQf
z]o/ @)^(.#.@) df k|ltz]o/ ?=#!).– df laqmL u/]5g\ . of] cj:yfdf
z]o/ laqmLdf ePsf] nfe ?=$$,))).–-!!) *$))_ df uflePsf] @ jif{leq}
laqmL u/L nfe ePsfn] kF'hLut nfes/ nfUb}g .
Example 19.6.7: Suppose, , Kavre Bank Limited and Kaski Bank Limited was merged on 2068/02/29
by issuing 9 shares for each 10 shares of Kaski Bank Limitd. Rameshji Shahhas 1,000 number of
shares of Kaski Bank Limited (face value Rs.100 and cost Rs. 200). He has received 900 shares due to
merger. Ramshji sold 400 numbers of shares on 2069/03/20 for Rs. 310 per share. In this case, capital
gain tax shall not be charged on the gain from sale of shares Rs. 44,000 (110x400) as it has been sold
within 2 years from the date of merger.

pbfx/0f !(=^=*M dfgf}, sfe]| a}s ln=n] g]kfn /fi6« a}+sn]

tf]s]]sf] ;+:yf k|flKt –PSo'lh;g_ ljlgod adf]lhd sf:sL a}+s

29
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

ln=nfO{{ ldlt @)&).@.! Dff ufe]sf] (Acquire) /x]5 . ufleg' tTsfncl3

sf:sL a}+s ln=df ul/df k|f=ln=sf] k/n d"No ?=!) nfv ePsf] !),)))
lsQf ;fwf/0f z]o/ /x]5 . uflePkZrft pQm sDkgLn] sf:sL a}+s
ln=sf] !),))) lsQf ;fwf/0f z]o/sf] abnf sfe]| a}s ln=sf] (,)))
lsQf ;fwf/0f z]o/ k|fKt u/]sf] /x]5 . pQm sDkgLn] cfkm\gf] ;a}
z]o/ ldlt @)&).!).% df s'n ?=!% nfvdf laqmL u/]sf] /x]5 . o;/L
laqmL u/L k|fKt nfedf s/ nfUb}g . olb pQm z]o/ ?=( nfvdf
laqmL u/L ?=! nfv gf]S;fgL ePsf] cj:yfdf To:tf] gf]S;fgL s/
gnfUg] cfo;Fu ;DalGwt ePsf]n] cfufdL jif{df ;fg{ klg ;lsg] 5}g .
Example 19.6.8: Suppose, , Kavre Bank Limited has acquired Kaski Bank Limited on 2070/02/01 as
per the Merger and Acquisition Bylaws of Nepal Rastra Bank. Garima Pvt. Ltd. has 10,000 number of
ordinary shares of Kaski Bank Limited costing Rs. 10 lakhs just before the acquisition. It has received
9,000 number of ordinary shares of Kavre Bank Limited in consideration of 10,000 number of
ordinary shares of Kaski Bank Limited. The company sold all of its shares on 2070/10/05 for Rs. 15
lakhs. The capital gain shall not be levied on gain amount received on disposal of such shares. If the
shares were sold for Rs. 9 lakhs then the losss wil be Rs. 1 lakhs and as such capital loss is related
with tax exempted income, it shall not be carried forward for next year.

$&s=-%_ pkbkmf -!_ adf]lhd ufleO{ lgM;u{ ePsf]

lgsfon] uflePsf] ldltn] b'O{ jif{ leq uflePsf]
cj:yfdf sfod /x]sf] z]o/wgLnfO{{ lat/0f u/]sf]
nfef+zdf s/ nfUg] 5}g .
pbfx/0f !(=^=(M dfgf}, sfe]| a}s ln= n] sf:sL a}+s ln= sf ;j}
z]o/wgLnfO{{ k|To]s !) lsQf z]o/ a/fa/ ( lsQf z]o/ lbO{ sf:sL a}
+s ln=df ldlt @)^&.@.@( df uflePsf] /x]5 . ufleP kl5 sfe]| a}
+s ln= n] ldlt @)^(.@.@) df k|lt z]o/ ?=$) nfef+z ljt/0f
u/]sf] /x]5 . of] cj:yfdf sfe|] a}+s ln=sf ldlt @)^&.@.@( df
sfod /x]sf s'g} klg z]o/wgLnfO{{ nfef+z s/ nfUb}g . ;fy}
uflePsf] ldltdf sfod /x]sf] z]o/wgLsf] sfod /x]sf] z]o/ ;+Vof
dfqdf s/ 5'6 x'g] / ufleP kl5 yk x'g cfPsf] af]g; z]o/ jf c? z]o/df
ljt/0f x'g] nfef+zdf s/ 5'6 gx'g] .
t/ pQm nfef+z ldlt @)^(.@.@( jf ;f] k5fl8 ljt/0f u/]sf] eP
of] ;'ljwf k|fKt x'g ;Qm}g / nfef+z s/ % k|ltzt nfUbYof] .
Example 19.6.9: Suppose, , Kavre Bank Limited has acquired Kaski Bank Limited by issuing 9
shares of Kavre Bank Limited for each 10 shares of Kaski Bank Limitd. On 2067/02/29. After the
acquisition, Kavre Bank Limited has distributed dividend of Rs. 40 per share on 2069/02/20. In this
case, any shareholders holding shares on 2067/02/27 shall not be levied dividend tax. Also, the tax

30
cfos/ lgb]{lzsf @)^^ -;+;f]lwt @)&&_ sf] ;+lIflKts/0f
l;=P= lgd{n >]i7

exemption shall be allowed on payment of dividend on shares that was held on the date of acquisition
and dividend distributed on bonus shares or such other shares included after the acquisition date shall
not be exempted from dividend tax.

a}+s tyf ljQLo ;+:yf / aLdf Joj;fo ug]{ sDkgL ufleg] ;DaGwL
cGo Joj:yf lgDgfg';f/ 5g\ M
$&s=-^_ pkbkmf -!_ cg';f/ ufleO{ lgM;u{ x'g rfxg]
lgsfon] ;Djt\ @)&* ;fn c;f/ d;fGtleq ufleg] cfzokq
cfGtl/s /fh:j ljefudf lbg' kg]{5 .
$&s=-&_ pkbkmf -!_ adf]lhd uflegsf] nflu pkbkmf -^_
adf]lhd cfzokq lbg] lgsfox?n] ufleg] k|lqmof ;Djt\
@)&( c;f/ d;fGtleq k"/f ug'{kg]{5 .
$&s=-*_ of] bkmf k|f/De ePkl5 Ps cfk;df ufleO{ o; bkmf
adf]lhdsf] ;'ljwf pkof]u gu/]sf lgsfon] ;d]t o;}
adf]lhdsf] ;'ljwf pkof]u ug{ kfpg]5g\ .
$&s=-(_ pkbkmf -^_ df tf]lsPsf] cjlwleq cfzokq glbg]
lgsfo tyf pkbkmf -&_ df pNn]v ePsf] ldlt;Dd
ufleg] k|lqmof k"/f gu/]sf] lgsfosf] xsdf of]
bkmfsf] Joj:yf nfu" ePsf] dflgg] 5}g .

31