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WHAT IS TAX ? WHY SHOULD PAY TAX?WHAT IS THE NEED FOR
PAYING TAX?


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At the time of death of a partner, firm gets ________ from the insurance company against the Joint Life Policy taken jointly for all the partners. (a) Policy Amount. (b) Surrender Value. (c) Policy Value for the dead partner and Surrender Value for the rest. (d) Surrender Value for all the partners.

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