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Interest amount awarded by MACT in motor accident claims taxable or not

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Sulafa S.V (Querist)
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11 May 2024 Sir, Can you please tell me Is Interest amount awarded by MACT in motor accident claims taxable or not? The TDS is already deducted by Insurance Company.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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11 May 2024 Yes, interest amount is not taxable.

Sulafa S.V (Querist)
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11 May 2024 Sir, Is there any case law regarding this?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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11 May 2024 Refer:
https://taxguru.in/income-tax/tax-interest-awarded-motor-accident-claim-tribunal.html

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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07 September 2024 Good Luck.

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