16 January 2012
Whether service tax paid on Insurance premium is allowed as deduction or not? Suppose..for eg. If amt of insurance premium is Rs.10000 and service tax charged thereon@10.3% is Rs. 1030. Thus Rs. 11030 is paid as total premium. Then what will be the amount of deduction available to an individual u/s 80C?
17 January 2012
Section 80C provides for tax deduction in case of life insurance premium and life insurance premium is not subject to service tax pl note
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