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Insurance claim

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11 February 2015 experts , whether lum sum claim recd frm insurance co. upon death of a person is taxable in the hands of legal representative....???
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Saravana Perumal Aiyathurai

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Saravana Perumal Aiyathurai (Expert)
11 February 2015 It is a capital receipt hence not taxable under income tax act,1961.

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