17 February 2009
If anybody receives mediclaim insurance proceeds is the proceeds taxable or not taxable or exempt from tax? If it is exempt under which section of the Income tax act 1961?
17 February 2009
Thank u Yatesh for your quick n prompt reply. So, we can conclude it as, since the proceed is not revenue in nature and it's mere reimbursement of expenses it is not taxable.
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