Government proposes to exempt award given by Motor Accident Claims Tribunal from income tax
Finance Minister Nirmala Sitahraman on Sunday (February 1, 2026) proposed a tax exemption on awards given by the Motor Accident Claims Tribunal in the Union Budget 2026-27. According to the Budget document, the provisions of the Motor Vehicles Act, 1988, inter alia, provide for compensation and an interest on the compensation to be awarded by…