For claiming deduction u/s 80D, is service tax on Medical Insurance Premium Allowed?
Service tax on medical insurance
CA J.Alamelu lakshmi (Chartered Accountant) (852 Points)
16 June 2014
CA J.Alamelu lakshmi (Chartered Accountant) (852 Points)
16 June 2014For claiming deduction u/s 80D, is service tax on Medical Insurance Premium Allowed?
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 16 June 2014
CA J.Alamelu lakshmi
(Chartered Accountant)
(852 Points)
Replied 17 June 2014
But there are some sites which say that service tax should not be deducted. Is there any circular in this regard?
CA Pooja Sharma
(Chartered Accountant)
(192 Points)
Replied 17 June 2014
I Think there is no cirlular as such but As per Section 80D of IT Act, any sum paid to effect or to keep in force an insurance on the health is eligible for deduction.
Service tax on mediclaim is a statutory levy which is to be paid along with premium to keep in force the policy.
Thus, it is the amount paid towards mediclaim insurance and should be eligible for deduction.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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