Capital Receipts/Revenue Receipts
This query is : Resolved
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.
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.
15 January 2009
In my opinion, Insurance Claims received are not taxable.
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
Surana
25 June 2023
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