Dear sir,
I had undergone angioplasty two months back . I got payment from my insurer againt critical illness rider.
Now I want to know what are the Income tax liabilities on such payments?
Need your help...
Regards,
G Misra
R.S.KARTHIK
(Article Assistant----Final Student)
(59 Points)
Replied 04 February 2012
If u can be clear about your query......like a) what was the payment amount b) Who was the insurer c) how much was your premium amount etc, ........
i think there is no tax liability for u because the payment was made by your insurer.
adamya
(Consultant)
(50 Points)
Replied 04 February 2012
if your payment is upto the expense (which is hsould be) there is no tax implication
Regit
(CA.Final)
(320 Points)
Replied 06 February 2012
There is no Tax implication on the amount unless the exp is previously incurred/Re-imbursed by your employer.
kirankumar
(pursuing ICWAI-Final)
(50 Points)
Replied 08 February 2012
CAclubindia
