Service tax on medical premium
This query is : Resolved
23 February 2014
Please explain whether Service Tax on Medical premium is allowable or not u/s 80 D ?.
23 February 2014
yes it is allowable..the whole of the amount paid by the assessee (except for interest on account of late payment of premium) is eligible for deduction.
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23 February 2014
recently the Mint (newspaper) also covered this issue at http://www.livemint.com/Money/7qZXKVIeTyf2hjpCoTYFJL/DYK-Entire-insurance-premium-is-eligible-for-tax-deduction.html
23 February 2014
Thanks for u'r immediate reply. Bur have explain about common premium u/s 80 c. But whether it's applicable for 80 D also ?
23 February 2014
no friend. the article is on premium only which applies to both 80C and 80D.
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