Taxability of claim received due to death in road accident
This query is : Resolved
28 July 2018
An assessee got the claim amount ordered by court due to death of her husband in a road accident. The motor insurance company deducted 20% TDS on the claim amount u/s 194A. Kindly advise whether the claim amount taxable in her hand or not and if exempt pls quote the section of IT Act.
Thanking You
Thanking You
28 July 2018
It's a capital receipt not taxable.
03 August 2018
Thanks for your valuable reply sir. Can u give the reference of section or rule of IT act please.
Thanking You
Regards
Thanking You
Regards
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