Can We claim ITC on Insurance premium paid for Vehicle Insurance which used for our own business purpose only.
ITC on Insurance Premium of 4 Wheeler used only for Business purpose
Mukesh (B.Com) (37 Points)
04 October 2019
CA Ashwini Seeram
(CA)
(195 Points)
Replied 04 October 2019
No, as per section 17(5) insurance on motor vehicles is not eligible for ITC.
Amit Saini
(Chartered Accountant)
(45 Points)
Replied 04 October 2019
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