Taxation on Insurance claim received
This query is : Resolved
Viren Gandhi
(Querist)
06 March 2010
i just wanted to whether when any female gets Personal accident insurance claim of Rs. 10,00,000/- on death of her husband whether she has to pay income tax on that claim received. if yes is than it is taxable at normal income tax rate or on flat rate
06 March 2010
IT IS EXEMPT FROM TAX
CMA Ramesh Krishnan
(Expert)
07 March 2010
Agree it is exempt
CA Ravi Sisodia
(Expert)
07 March 2010
100% Exempt from Tax.
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