ITC on insurance

This query is : Resolved

R S Pandi (Querist)
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20 February 2021 Dear Sir,

My client paying insurance payment for the company and staffs, For this insurance they are not collecting any amount from staffs.

1 ) Group personal accident
2) special contingency
3) hull & Machinery
4) standard fire accident Policy
5) boat

may i claim ITC on above mentioned policy.

Kindly advice

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 February 2021 Yes, ITC can be claimed on it as it's related to business.
Group insurance related to accident company's liability shifted to insurance.