Deduction
This query is : Resolved
Parth Shah
(Querist)
22 January 2015
Whether service tax paid on lic premium is allowed as deduction under 80c?
22 January 2015
No. Service Tax portion is not eligible for deduction u/s 80C.
Rupesh Jain
(Expert)
22 January 2015
yes it is part on the premium.
23 January 2015
Correction. Service Tax amount is eligible the wording used under section 80C is any sum paid and therefore Service Tax portion is also eligible for deduction u/s 80C.
My earlier reply stands corrected.
My earlier reply stands corrected.
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