Interest on insurance claim received by legal heir on death of a relative is taxable or exempt?
As TDS has been deducted by insurance company u/s 194A.
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Interest on amt of Claim.
Replies (3)
Insurance claim money is exempt. show that claim amount in ITR under Exempt Income EI schedule.
Claim TDS full amount under TDS schedule.
check TDS amount in 26AS statement
Claim TDS full amount under TDS schedule.
check TDS amount in 26AS statement
Insurance Claim Money is fully Exempt from Income Tax.
1% TDS must have been deducted u/s 194DA and not 194A. Section 194A is for Interest other than Interest on Securities.
1% TDS must have been deducted u/s 194DA and not 194A. Section 194A is for Interest other than Interest on Securities.
Gentleman
I'm asking for taxability of Interest on delayed paymeny of claim & not claim.
Read query carefully‼️
I'm asking for taxability of Interest on delayed paymeny of claim & not claim.
Read query carefully‼️
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