ITC on health & term insurance

182 views
User Avatar

264 Points Posted on 25 November 2022
can we claim ITC in term policy and health insurance policy paid on behalf of partner.
0 Reply Share Follow
On 25 November 2022 at 15:56 Report
Replies (2)
Quick Summary
This discussion clarifies whether Input Tax Credit (ITC) can be claimed on health and term insurance policies paid on behalf of a partner. The consensus is that such ITC is ineligible. This is explicitly covered under Section 17(5) of the relevant legislation, which details disallowed ITC claims.

User Avatar

Student CA Final
422 Points Posted on 25 November 2022
No, It is Ineligible ITC.
Reply
On 25 November 2022 at 16:26
User Avatar

GST Consultant
15986 Points Posted on 25 November 2022
No ITC available in such cases. Specifically covered under section 17(5) being disallowed
Reply
On 25 November 2022 at 19:26

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Guidance Required on Filing Fresh Registration und
  2. IT Return Refund Status AY 2026-27
  3. Clarification Regarding Income Tax Demand Notice
  4. Online PAN Download: Check How?
  5. Demand of Late fee/Interest under section 75 of GS
  6. DSC registration on TRACES portal
  7. Can we get registered for MCA if we get a Virtual
  8. DONATION PAYMENT REG
  9. GST IDS Refund – Statement 01A: Invoice Not
  10. TDS deposit code & TDS return

More recent discussions | Post

Related Topics :

Loading