Insurance companies usually pay weekly compensation at the rate of 1% of the sum assured per week for the period of Temporary Total Disablement because of an accident. This is paid where there is No Permanent total or partial disablement.
Query is: IS THIS AMOUNT OF WEEKLY COMPENSATION ON ACCOUNT OF TTD Taxable ? will it make any difference in case of a govt. employee getting this claim when he gets a paid leave also?
CAclubindia
