banner_ad

Interest income and insurance claim.

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
11 April 2016 Dear Sir,

one of my client brother was dead in an accident in 10 years back, they filed a suit against the person who causes the accident. after long time the client received 9 lakhs as interest as per 26AS from insurance company(the insurance claim is related to that person who causes the accident). what my doubt is whether that interest is taxable or not. If yes under which head it is taxable?. if the assesse receives claim also what about the taxability of that claim
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
11 April 2016 The insurance claim amount is not taxable, however interest is taxable under the head income from other sources.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details