25/09/2023

The Assistant Vice President

HDFC Bank,
Yelachenahalli Branch,
Bangalore.
Kind Attn: Mr. Girish Kumar Prabhakar

Sub: Purchase of Saving cum investment policy bearing no. Tata AIA Life Insurance Diamond Savings
Plan (110N133V02) in the name of Mrs. Nanda Ashiya from Sourabh Beneficiary Trust.

On the advice given by Mr. Arvind Kataria, our Relationship Manager of HDFC Bank, Yelachenahalli
Branch, Bangalore, we have taken the above policy as were given to understand that we can claim
the amount of Rs.15,67,500/- premium paid annually as deductible expenditure in the books of
Sourabh Beneficiary Trust. We are paying the premium on the above policy since three years. Our
statutory auditors maintain that the premium paid on this policy cannot be claimed as deductible
expenditure for the purposes of Income Tax Act, 1961.

Hence we request you to give us as to how it is deductible expenditure along with relevant section
number under which it is deductible as expenditure in the books of Sourabh Beneficiary Trust. We
have requested unsuccessfully Mr. Arvind Kataria several times to provide us the details of the
deductible expenditure under this policy.

We are afraid that in case of scrutiny this expenditure will be disallowed along with interest and fine
for several years which will result in loss of lakhs of rupees for Sourabh Beneficiary Trust.

But for the strong advise given by Mr. Arvind Kataria that the premium paid is a deductible
expenditure as per Income Tax Act 1961, we would have invested this money in business instead and
made lakhs of rupees net profit.

We once again request you to provide with necessary information in this connection.

Thanking you,
Yours faithfully,

Sesh Kiran Ashiya

Trustee
Sourabh Beneficiary Trust.