Eligibility under 80c
This query is : Resolved
29 August 2016
Whether service tax on insurance premium is eligible under 80C or not?
29 August 2016
No,
As reading section 80C of Income tax Act,1961 it provide the deduction of Life Insurance Premium amount, any other taxes or charges on such premium can not be treated as life insurance premium so it is not eligible for deduction under section 80C.
Thanks.
As reading section 80C of Income tax Act,1961 it provide the deduction of Life Insurance Premium amount, any other taxes or charges on such premium can not be treated as life insurance premium so it is not eligible for deduction under section 80C.
Thanks.
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