insurance premium service tax

[a j]

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 @    [email protected] or call me @ 0 93 93 93 4 007

AI Summary

Service Tax on Life Insurance Premiums Eligible for Exemption under Section 80C of Income Tax Act A user inquired whether the service tax paid with an annual life insurance premium is eligible for exemption under section 80C of the Income Tax Act. The user expressed confusion over their company's stance and sought clarification. A respondent confirmed that both the premium and the service tax components are eligible for exemption. The user requested documentary proof to convince their office managers. The respondent suggested referring to the wording of section 80C(2)(i) of the Income Tax Act, which considers service tax an integral part of the premium amount necessary for the policy to be valid.