Taxation of insurance cliam
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 September 2011
my tanker has been theft and insurance claim has been settled at rs 12 lackhs but only 5 lackhs has been received by me and 7 lackhs has been paid directaly to financer against loan setelement by insurance co.
my question is how much should i consider as sales and how much should i deduct from block of assets u/s 32 of IT act.
7 lackhs was paid against loan to financer by insurance co. was instalment payable by me,which was pending from the date of theft till date of setellement.
my question is how much should i consider as sales and how much should i deduct from block of assets u/s 32 of IT act.
7 lackhs was paid against loan to financer by insurance co. was instalment payable by me,which was pending from the date of theft till date of setellement.
18 September 2011
You should Consider Rs.12 Lacks .
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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