Motor accident claim
This query is : Resolved
31 May 2018
One of my client received motor accident claim around 6.5 Lakhs from Insurance company as her husband passed away due to an accident.
But company deducted TDS around 1.3 Lakhs
She has no other source of income.
Is this claim fully exempt as various supreme courts orders specifying this ?
If its fully exempt how we can claim in ITR. whether we can show total income as exempted income and claim for full refund ?
But company deducted TDS around 1.3 Lakhs
She has no other source of income.
Is this claim fully exempt as various supreme courts orders specifying this ?
If its fully exempt how we can claim in ITR. whether we can show total income as exempted income and claim for full refund ?
31 May 2018
As per my view.,
Yes... You can show the amount in Exempted income except any interest is received with the amount... And You ll claim refund for the TDS Fully...
***Wait on further replies from our CCI Experts...
31 May 2018
As per my view.,
Yes... You can show the amount in Exempted income except any interest is received with the amount... And You ll claim refund for the TDS Fully...
***Wait on further replies from our CCI Experts...
01 June 2018
Seems tax is deducted u/s 206AA(1)(iii) since deducted amount is 20% of the claim. So please ascertain this first, then think about the further course of action.
04 June 2018
Sir they disclosed their PAN at the initial stage. In 26 AS its shown that tds u/s 194 A. But the total interest amount she received is less than 1 lakhs
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- How to reclaim rent paid on behalf of a registered person?
- Non receipt of net payment but TDS filed later and ITR revised return not filed
- Trust audit of Mumbai
- Interest On TDS under section 201(1A)
- NSC interest taxability at maturity
- GST implication in case of Proprietor
- Form 26b submission
- TDS u/s 194IB
- Salary to workers
- TDS on rent paid by a doctor
- Intimation for CBCR Reporting
- Clerical mistake in GSTR 1 entered
- Difference in invoice
- Director's remuneration and RPT
- Amendment in GSTR1A
- GST adjudication monetary limit
- BSR AND CHALLAN SERIAL NUMBER IN CASE OF BANK ATTACHMENT ?
- CA FINAL Group-1 Completed
- B2C Large Invoice Reporting Requirement
- Different payment bank or method used rather than AD Code registered bank
Trending Online Classes
CAclubindia
