IS MEDICLAIM RECEIVED OR ANY CLAIM RECEIVED ON GENERAL INSURANCE IS TAXABLE ? DOES IT HAS ANY DIFFERENT EFFECT IF THE ASSESSEE IS AN INDIVIDUAL ?
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INSURANCE RECIEPT
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Insurance recd will not be taxable for an individual.
| Originally posted by : bhupeshajmera | ||
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IS MEDICLAIM RECEIVED OR ANY CLAIM RECEIVED ON GENERAL INSURANCE IS TAXABLE ? DOES IT HAS ANY DIFFERENT EFFECT IF THE ASSESSEE IS AN INDIVIDUAL ? |
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except LIC, all such insurence claims, including mediclaim, is reimbursement of medical expenses with insurence company, so when u have spend the sum from your taxable income, or savings, the insurence claim just fill up the spendings, hence not taxable.
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