Service Tax on Insurance Premium - Income Tax Forum - Chartered Accountants India,Taxpayers, CAs India, CA india ,ICAI, Company Secretary ,CS, Cost Accountants, MBA, Finance Professionals

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debasish
Business analyst
[ Scorecard : 24]

Posted On 30 March 2009 at 20:06

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Hi,

Can we take the benefit (deduction in income) of service tax paid which is included in insurance premium u/s 80C & 80D of income tax act?

Juzer
Article/Student
[ Scorecard : 1098]

Posted On 30 March 2009 at 20:12

Yes, Any sum payable to keep in effect the Life Insurance scheme/medical Insurance scheme shall be allwed as deduction under section 80C & 80D.