Dear friends,
Claim received under mediclaim policy is taxable or exempted ?
If exempted, under which section ? Sec. 10(10D) is only for life insurance policy.
Please share your views..
Thanks in advance..
vinodaca74 @ gmail.com
Dear friends,
Claim received under mediclaim policy is taxable or exempted ?
If exempted, under which section ? Sec. 10(10D) is only for life insurance policy.
Please share your views..
Thanks in advance..
vinodaca74 @ gmail.com
Claim received under Mediclaim Policy is not taxable. But its not under section Sec 10 (10D).
Basically, Medclaim received is reimbursement of what you expended for the treatment. Since it is reimbursement, it does not partake the character of Income u/s 2(24). Since, it is not income, there is no question of Income Tax.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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Naveen Fintech Pvt Ltd
Kolkata
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