Motor accident claim

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This query is : Resolved

Hari Nair (Querist)

31 May 2018 One of my client received motor accident claim around 6.5 Lakhs from Insurance company as her husband passed away due to an accident.

But company deducted TDS around 1.3 Lakhs

She has no other source of income.

Is this claim fully exempt as various supreme courts orders specifying this ?

If its fully exempt how we can claim in ITR. whether we can show total income as exempted income and claim for full refund ?

RAJA P M

RAJA P M (Expert)

31 May 2018 As per my view., Yes... You can show the amount in Exempted income except any interest is received with the amount... And You ll claim refund for the TDS Fully... ***Wait on further replies from our CCI Experts...

RAJA P M

RAJA P M (Expert)

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

01 June 2018 Seems tax is deducted u/s 206AA(1)(iii) since deducted amount is 20% of the claim. So please ascertain this first, then think about the further course of action.

Hari Nair

Hari Nair (Querist)

04 June 2018 Sir they disclosed their PAN at the initial stage. In 26 AS its shown that tds u/s 194 A. But the total interest amount she received is less than 1 lakhs

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