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Tax on insurance claim

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 March 2017 Dear All,

One of my friend was working in Merchant Navy and he had some accident during the job. The Insurance co. gave him claim of Rs, 65 Lacs. Please suggest is it taxable or not. and if it is taxable so under which head and section we need to show this.
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Querist : Anonymous

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Querist : Anonymous (Querist)
20 March 2017 Sir Please suggest the above query
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
24 October 2021 In most of such cases it is treated as capital receipt, hence not taxable.




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