Claim for furniture destroyed written off
This query is : Resolved
farhat ali
(Querist)
27 December 2013
Hi!!!! experts
i want to ask that there was a hotel in which one room catched fire and the whole furniture got destroyed and accordingly it was written off 100%.Now after sometime an assessee got insurance claim.In which head should he show his claim either under other sources or income from capital gain????
i want to ask that there was a hotel in which one room catched fire and the whole furniture got destroyed and accordingly it was written off 100%.Now after sometime an assessee got insurance claim.In which head should he show his claim either under other sources or income from capital gain????
27 December 2013
Hi
As per Section 45(1A) any insurance claim received is taxable under the head capital gain
Thanks//VaibhavJ
As per Section 45(1A) any insurance claim received is taxable under the head capital gain
Thanks//VaibhavJ
farhat ali
(Querist)
27 December 2013
thanks a ton sir!!!!!!!
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