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Sickness Income Benefit Claim Form Contentstack

Sickness Income Benefit Claim Form Contentstack

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hello and welcome to this session in which we would look at the taxability or lack of for compensation for injuries and sickness what does that mean it means when an individual receives some sort of a compensation for damages is that amount taxable or not well it all depends the tax implication for receiving damages vary depending on the harm suffered by the taxpayer so when the individual pursue compensation they may receive damages for various reasons what could be those reasons why would you why would you want to receive damages it is possible that you could have lost some income you lost your source of income you could have incurred expenses you could have some property damage or you could receive compensation for personal injury so is it taxable not taxable at all depends on the type of the specific harm you suffered and what are you trying to get compensated for this is what we will discuss in this session before we proceed any further I have a public announcement about my compan

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