Hi all, please help
What is the Tax treatment of Accident compensation received ? Please quote relevant section/case law.
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Accident compensation ?
Replies (2)
Hi Ritesh
There is a article on Accident compensation n Students Newsletter of ICAI its really gud 1.
I think it s n March/ April/ May newsletter... Please refer that.
Mr. Ritesh
and
Mr.Amit Keep Smiling
If that compensations falls under the ambit of section 10(10B) of Income-tax Act, it is an exempted income. Please refere the section for more clarification.
Best Wishes
Sathikonda
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