Whether medical insurance claim received from insurance company taxable or not
is insurance company liable to deduct TDS before reimbursement of medical calim
plz explain
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Taxability on medical insurance claim
Replies (5)
1. medical insurance received from company is part of salary hence taxable. how ever you can get deduction u/s 80D for the same
2. any payment received from insurance company is not liable to tds.
for more details click below:
Complete Guide for Medical Insurance
From the recent assessment year sec 115BAC is applicable. So I that case there are certain restrictions.
Assessee is non salary person
Medical insurance claim received from insurance company is not taxable since it is essentially a partial/full reimbursement of medical expenses incurred.
There is no provision casting liability for tds deduction on such payments.
There is no provision casting liability for tds deduction on such payments.
The querist must mention that at first.
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