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Union Budget: Income Tax exemption for interest on motor accident compensation
Updated On: 05 February, 2026 05:50 PM IST | Mumbai | mid-day online correspondent
In a major relief for citizens, Union Budget 2026 exempts Income Tax on interest earned from motor accident compensation claims. The decision removes TDS, ensuring victims and families receive the full awarded amount without deductions
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FM Nirmala Sitharaman presents the Union Budget in Lok Sabha on Sunday. PIC/PTI
Union Finance Minister Nirmala Sitharaman highlighted a major relief initiative for road accident victims and their families in the Union Budget 2026.
While addressing the Lok Sabha on Sunday, Sitharaman announced that the interest accrued on motor accident compensation claims will be fully exempt from income tax, news agency IANS reported.
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