| Discussions Forum | ||||||
Home  Forum Service Tax This
|
||||||
| A Public Forum. Anyone can participate to share knowledge. |
||||||
|---|---|---|---|---|---|---|
| We acknowledge the contributions of Experts/ Authors. | ||||||
Submit new Issue / Query |
||||||
insurance premium service tax, Service Tax |
||||||
|
||||||
insurance premium service tax |
||||||
can any body confirm whether service tax paid along with annual Life Insurance premium is also considered u/s 80C for exemption. My company is singing a new song I don't understand this. I'm pretty sure that both the premium part and the service tax part are eligible. please reply and clarify. You can mail me @ arundjones@yahoo.com or call me @ 0 93 93 93 4 007 Posts / Replies Showing Replies 1 to 3 of 3 Records Page: 1
Yes, you are right premium alongwith S.T. component will be considered for exemption u/s 80C of IT Act
Onkar ji tx for the reply. my point here is can anybody give me a documentary proof for that. our office and officers who are in the position of a Manager doesn't know this and the onus had fallen on me to prove it.
kindly help me out.
tx
Just show him the wording of section 80C (2)(i) of the IT ACT,1961 (bare Act). It is like “…..... any sums paid or deposited …..... by the assessee to effect or to keep in force an insurance on the life of persons specified…......”. Service tax is an integral part of premium amount, It is a statutory payment, without it premium can not be accepted or deemed to be paid.
Page: 1 Old Query - New Comments are closed. |
||||||
