taxability of Mediclaim received

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  1. I Have received mediclaim amounting rs. 150000 on my accident and my expenses against that is nil.
    So my query is whether that amount received is taxable??? If yes , under which head of Income??
     
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    The mediclaim received is exempted from the levy of Income Tax

    Therefore no tax would be levied on Mediclaim received.
     
  3. Thank you for clarifying but what if it is Income cover policy instead of mediclaim???
     
  4. gaurav_kumar

    gaurav_kumar Well-Known Member

    Could you please clarify what type of policy is this?

    Is this like Pension?
     
  5. No Sir this is not like pension.

    Actually assesses has received amount because of unemployment due to accident .
     
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