My employer gives me medical cover under a group insurance scheme. The insurer reimbursed a claim for an expense of Rs 2,00,000 incurred by me for my father's surgery. Will I have to pay tax on the money received?
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My employer gives me medical cover under a group insurance scheme. The insurer reimbursed a claim for an expense of Rs 2,00,000 incurred by me for my father's surgery. Will I have to pay tax on the money received?
Hi Suman
What I comprehend from your statement is that you have a group health insurance policy from your employer. You have filed a claim under it and your insurer has reimbursed the claim. Now you wish to know if you need to pay taxes on the claimed amount.
As per my knowledge you need not pay any taxes for the reimbursed amount by the insurer. The coverage amount for the health insurance policy is free from any tax liabilities.