Hi Sir/Madam,
My query is about reimbursed amount from my insurance company. I had accident and as per Group Personal Accident Insurance policy, My insurance company reimbursed some amount to my employer.Employer deposited the amount in my account after deducting TDS.
Request you to clarify me whether this transaction attracts income tax?
Thanking u in anticipation.
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Reimbursement of medical expenses from Insurance company
Replies (3)
Usually insurance claim money is tax free.
Under which section TDS deducted by your employer ?
Under which section TDS deducted by your employer ?
Hi sir..
Im not sure sir. But I wanted to have some knowledge before questioning my employer.
Im not sure sir. But I wanted to have some knowledge before questioning my employer.
Any amount received from the Insurance company under a medical policy will not be treated as income of the insured person as it is not a profit or income to the insured person but only a reimbursement.
in your case your employer has deducted TDS so
first ask the person in charge reason for deduction of TDS and under which section TDS is deducted.
in your case your employer has deducted TDS so
first ask the person in charge reason for deduction of TDS and under which section TDS is deducted.
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