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Insurance claim

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vipin (Querist)
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28 July 2012 Is motor insurance claim received is taxable?

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Guest (Expert)

28 July 2012 No, Motor insurance claim is not taxable.

CA M Indani

CA M Indani (Expert)
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28 July 2012 yes..in excess of wdv as per I Tax

vipin (Querist)
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28 July 2012 in which section it is taxable if excess wdv?

Neha Desai (Expert)
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28 July 2012 under section 45(1A) excess claim received is taxable as STCG.

Kind regards,
Neha D.

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