Claim received under motor accident claim
This query is : Resolved
11 July 2015
ANY AMOUNT RECEIVED AS CLAIM UNDER MOTOR ACCIDENT CLAIM IS TAXABLE ?
IF INTEREST IS PAID ON THE CLAIM AMOUNT AND TDS HAS BEEN DEDUCTED ON IT IS ONLY INTEREST IS TAXABLE ???
IF INTEREST IS PAID ON THE CLAIM AMOUNT AND TDS HAS BEEN DEDUCTED ON IT IS ONLY INTEREST IS TAXABLE ???
11 July 2015
Principal is tax free. Interest , subject to deduction u/s 57 (iv), is taxable.
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