is assessee eligible for deduction on premium paid including gst.
is gst also form part of premium payment and claim as deduction?
pls help with case law or referring sec or rules. thank you.
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80C and 80D
Replies (3)
Total premium amount paid, including any taxes liable, is deductible under sec. 80C/ 80D, subject to limits specified in the section.
"As per Section 80C(2) of the Income Tax Act, 1961 any amount paid to an insurer to buy or to keep a life insurance policy in force can be claimed as a deduction from gross total income by the policy holder."
thank you sir.
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