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Is ITC available on professional indemnity insurance policy

Nilesh Shinde (56 Points)

28 November 2020

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JATINDER KUMAR (Accountant) (3662 Points)
Replied 28 November 2020

No......

Thiyagarajan Kandasamy (118 Points)
Replied 29 November 2020

As per sec 17(5) blocked credit for insurance premium paid for personal purposes no ITC, but you can avail if the insurance for burglary, fire safety insurance, ITC eligible.

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