TaxTMI 
TaxTMI 
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
insurance premium service tax
20 Sep 2011 
3 Replies 
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Insurance premium deductibility: service tax paid with life insurance premium can be included for Section 80C deduction.
The service tax component charged with a life insurance premium is treated as part of the premium for deduction under Section 80C because Section 80C allows deduction for "sums paid" to effect or keep in force a life insurance policy, and service tax is a mandatory statutory charge necessary for acceptance of the premium. (AI Summary)
The service tax component charged with a life insurance premium is treated as part of the premium for deduction under Section 80C because Section 80C allows deduction for "sums paid" to effect or keep in force a life insurance policy, and service tax is a mandatory statutory charge necessary for acceptance of the premium. (AI Summary)