Compensation to legal heirs

Querist : Anonymous (Querist) 07 December 2011 This query is : Resolved
My client had received accident compensation from insurance co.as legal heir..
Q.Under which sec.exempt?

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Raj Kumar Makkad (Expert) 08 December 2011
Compensation received on account of an accident is not specifically listed as an 'exempted income'.

Hence, it may be taxed under the head 'Income from Other Sources'.

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