Sec 80c
sagar (mathura) (214 Points)
16 December 2015
is service tax paid on life insurance premium admissible as per deduction under 80c?
2 Replies
Stranger
(.)
(5531 Points)
Replied 17 December 2015
Any amount paid to to effect or to keep in force an insurance on the life of persons qualifies for a tax deduction under section 80C. Thus, it can be interpreted that the entire premium, inclusive of service tax and cess (except late fees), qualify for a tax deduction, unless explicitly clarified by the tax authorities.
Hope ur doubt is cleared now..
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