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Capital Receipts/Revenue Receipts

This query is : Resolved 
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(Querist)
14 January 2009 Greetings to All

Sir/Madam

One of my client is in receipt of accident claim awarded by court for his son Rs.400,000/- towards medical treatment and Rs. 150,000/- towards future treatment on the attainment of majarity. he has spent about 300,000 on his treatment during the F.Y.2007-08,and which has been debited to claim Receivable, pl. clarify the Rs. 100000 and 150,000 whether it is capital receipts or revenue receipts.
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Mugdha

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Mugdha (Expert)
15 January 2009 In my opinion, Insurance Claims received are not taxable.
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M.M.SURANA

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M.M.SURANA (Querist)
04 February 2009 I request all the honorable members to Pl. furnish any cas e law if U hav come a cross.I hav given now comlete detail

Surana
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
25 June 2023 "Sorry, I am not a featured member."

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