Dear All,
Good evening. I have a small questionswith respect to ITR filing.
1) When someone recieves a huge sum on account of insurance compensation from overseas against the loss of life, I know that the compensation amount is tax free at the hands of the beneficiary. But I would like to know if it is necessary to report the same while filing the ITR.
Thanks a lot for your help.
Regards
Seprac
Yes
Thanks a lot for your reply. May I also please know under which section should I file this exemption.
Under Exempted income...... sec. 10(10D) of IT act.
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