IS MEDICLAIM RECEIVED OR ANY CLAIM RECEIVED ON GENERAL INSURANCE IS TAXABLE ? DOES IT HAS ANY DIFFERENT EFFECT IF THE ASSESSEE IS AN INDIVIDUAL ?
2 Replies
Pankaj Arora
(Learner)
(3134 Points)
Replied 03 March 2011
Insurance recd will not be taxable for an individual.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 03 March 2011
| Originally posted by : bhupeshajmera | ||
 |
IS MEDICLAIM RECEIVED OR ANY CLAIM RECEIVED ON GENERAL INSURANCE IS TAXABLE ? DOES IT HAS ANY DIFFERENT EFFECT IF THE ASSESSEE IS AN INDIVIDUAL ? |
 |
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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