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Motor accident claim

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(Querist)
10 August 2012 whether Motor Accident claim is exempted from tax or not If yes how much can we claim for a senior citizen. Can you give me the u/s which we can claim the exemption. And if possible please provide the information about interest on motor insurance claim too
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Amol S Joglekar

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Amol S Joglekar (Expert)
10 August 2012 Motor accident claim is exempt. No bar. Interest on the claim should be regarded as income. The position is same for every one... no specific previledge for senior or any other.
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