For claiming deduction u/s 80D, is service tax on Medical Insurance Premium Allowed?
Menu
Service tax on medical insurance
Replies (3)
yes, the total amount paid by way of premium is allowed as deduction and it includes service tax paid thereon also.
But there are some sites which say that service tax should not be deducted. Is there any circular in this regard?
I Think there is no cirlular as such but As per Section 80D of IT Act, any sum paid to effect or to keep in force an insurance on the health is eligible for deduction.
Service tax on mediclaim is a statutory levy which is to be paid along with premium to keep in force the policy.
Thus, it is the amount paid towards mediclaim insurance and should be eligible for deduction.
Recent Threads
- Can I set off equity losses(both short term loss a
- Input tax credit on rent to rent
- Family Pension Army
- Waste Management services
- Seeking Clarity: New Transport Allowance Limits (D
- Query regarding Consolidated Gift Deed for Bank Tr
- TDS u/s194IB - Joint Ownership
- Free GST Reconciliation Tool in Google Sheets R
- NRI return after due date refund case
- TDS u/s 194J - training honorarium
Related Threads
CAclubindia
