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Car insurance settlement taxability?

This query is : Resolved 

01 March 2016 I Own a car which is my Personal Assets (Not a Part of Any Block of Business Assets). Last year it had accident & I had Received
Rs 145000 as compensation from Insurance Company whether this Receipt is Taxable or Not?

02 March 2016 Hi,
Personal Assets are not taxable on its sale/receipt of compensation.



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