Capital Receipts/Revenue Receipts

This query is : Resolved 

14 January 2009 Greetings to All

Sir/Madam

One of my client is in receipt of accident claim awarded by court for his son Rs.400,000/- towards medical treatment and Rs. 150,000/- towards future treatment on the attainment of majarity. he has spent about 300,000 on his treatment during the F.Y.2007-08,and which has been debited to claim Receivable, pl. clarify the Rs. 100000 and 150,000 whether it is capital receipts or revenue receipts.

15 January 2009 In my opinion, Insurance Claims received are not taxable.

04 February 2009 I request all the honorable members to Pl. furnish any cas e law if U hav come a cross.I hav given now comlete detail

Surana


25 June 2023 "Sorry, I am not a featured member."

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