Service tax paid on insurance premium - eligible for tax ben
This query is : Resolved
19 February 2013
Hi Experts,
Please adivse whether the amount of service tax paid on insurance premium(Life Insurance/Mediclaim etc.)is considered for income tax benefit u/s. 80C / 80D.
Rgds,
Ramesh
Please adivse whether the amount of service tax paid on insurance premium(Life Insurance/Mediclaim etc.)is considered for income tax benefit u/s. 80C / 80D.
Rgds,
Ramesh
19 February 2013
Under Section 80C only the Insurance premium is allowed as deduction. Service Tax is incidental to rendering the service by the Insurance Company and hence the service tax can not be claimed as deduction under section 80C. In fact , for business assessee's for such service tax , input credit can be claimed
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Under marginal scheme
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- Import of Software Service.
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- Oct 2025 Invoices
- TAX AUDIT ON PROFESSIONAL INCOME
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
