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?
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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?
Mediclaim is the reimbursement of expenses. & reimbursement of expenses are not taxable under Income Tax Act.
Mediclaim is reimbursement of expenses incurred and hence not taxable.