Dear Sir/Madam,
I Accident through motor vehicle and compensation claim from motor vehicle insurance now a question is Compensation or Vehicle Insurance is Taxable or not
And Compensation Interest amount taxable which provision for income tax?
in case exemption for Sec 10 (10d)
As per my view.,
The Compensation received from the Insurance is excempted.
But, The Interest is Taxable...
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CAclubindia
