80c deduction on life insurance premium with/without s. tax
This query is : Resolved
27 August 2016
Please tell me whether deduction of sec 80C is available on Life Insurance Premium with/without Service Taxes.
Thanks & Regards
Thanks & Regards
27 August 2016
Dear Radhey Shyam,
deduction is allowed
deduction is allowed
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27 August 2016
Dear Radhey Shyam,
Kindly ignore above reply.
As per act its says total amount paid as life insurance policy so there is no debate on that.
It's allowable inclusive of service tax
27 August 2016
Full amount (with service tax ) you can claim.
28 August 2016
Dear Radhey Shyam,
Its already explained.
Hope your query is resolved
Kindly like if my response has helped you
Its already explained.
Hope your query is resolved
Kindly like if my response has helped you
29 August 2016
For 80C you can claim insurance premium paid amount which includes all applicable taxes.
Message likes :
1 times
29 August 2016
You mean to say that any amount paid to the Insurer is allowable as deduction, then in such a case back date interest paid on the premium amount is also deductible or not.
Please clarify deductible amount = base premium+service taxes+back date interest ???
Please clarify deductible amount = base premium+service taxes+back date interest ???
29 August 2016
Back date interest not eligible to claim 80C, other than interest can be allowed as deduction on payment basis.
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