Is Late fee and service tax thereon LIC Premium is elgible
for deduction u/s 80C ?

Answer Posted / viswa

Only the premium amount and service tax on that only
eligible for 80C deduction. Late fee its a penalty which a
mistake is done by u, not eligible for deduction

Is This Answer Correct ?    43 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Physician samples should be charged under CST @ 5% manufactured in H.P. and transferred to other states

1886


please explain what is actually E-15 what is its process and also what its importance.

2021


WHAT IS SHEDULE , HOW MANY TIPE OF SHEDULE IN COMPANY & PARTNERSHIP FIRM , WHAT IS IN EACH SHEDULE HEAD CONTAIN , PLEASE GIVE ME THE ANSWER ON MY E.MAIL sonidilip87@yahoo.com

1985


What is the procedures for withdrawing of form C?

1856


What is tha Central sales tax rate 2010 in andhrapradesh

2803






What is permanent account number (pan)?

819


What is Form-I, FORM-F, FORM-H, FORM-E and FORM-C?

8150


My Question is regarding WCT. During an audit of a company, i saw a contractor consolidated invoice for installation at site in which it shows labour charges and goods supply separately and no service tax and vat is charged. The company pay the whole amount to contractor after deducting TDS. my question is whether WCT also deducted? if deducted at which rate if company in gurgaon?

1893


What items fall under the category of ‘securities’?

701


my manufacture company established in Excise exempted Area. and we pay freight to transpoter.& also deduct service tax.what will be the entry of this transaction. can i adjust this service tax payable from input service tax of telephone bill.

1604


what is reverse credit & how it is calculated in vat law in west bengal?

8620


what is excise return, what is form requirement and what is procedure for excise return?

1859


What is the eligibility criteria of C-Form(Manufacturing goods of borewell bits, Hammers, Drilling Tools and Air compressors, etc..). If such company will purchase safety shoes, buyer can eligible to issue C-Form?

5156


Is Work Contract Tax expenses for a company?

1159


professional tax rate

1768