Deduction u/s 80c
This query is : Resolved
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?
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
17 January 2012
Dear Manoj,There is service tax component in life ins. premiums. charged hidden/Separately.
Mr satyam-This is a part of premium ,so claimed for 80C
Mr satyam-This is a part of premium ,so claimed for 80C
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