Question ID : 231
Tax Liability in case of Accidental Insurance Claim Receipts
An dividual cimed compensation for juries suffered by him a road accident( year 2002-03) from third party surance company. MACT Court awarded him relief FY 2005-06. Kdly advise whether the compensation amount is taxable the hands of dividual. If exempt, under which provisions of the Act? '
No answers yet. Be the first to answer!
Please login to post your answer.
