--- title: "Vipin Upadhyay Explains Tax and Insurance Treatment for High-Value Art & Jewellery Collections of Ultra-HNIs" date: 2026-03-27 author: "King Stubb & Kasiva" url: https://ksandk.com/news/tax-and-insurance-treatment-for-high-value-art-jewellery-collections/ --- # Vipin Upadhyay Explains Tax and Insurance Treatment for High-Value Art & Jewellery Collections of Ultra-HNIs Posted On - 27 March, 2026 • By - King Stubb & Kasiva ![Press release update banner for King Stubb & Kasiva corporate law developments](https://ksandk.com/wp-content/uploads/Website-PR-update-2-4-1.png) **Vipin Upadhyay** has shared expert insights on the insurance and tax treatment of high-value art and jewellery collections for ultra-high-net-worth individuals (UHNI), in a feature published on Moneycontrol. ![Website PR update 2 4 1](https://ksandk.com/wp-content/uploads/Website-PR-update-2-4-1.png) Upadhyay explained, “Insurance payouts are not taxable if proceeds are received on loss or destruction of privately held high-value personal collections. However, the claim amount would be taxable if these assets are held as stock-in-trade or the claim represents loss of profits rather than loss of the asset itself.” He further clarified the treatment for businesses, noting that insurance payouts from losses of high-value collections are generally treated as capital assets. “As a rule, capital receipts apply, since the payment merely indemnifies the owner for loss of a capital asset,” said the tax analyst. For the full insights, read the Moneycontrol feature: [https://www.moneycontrol.com/news/business/personal-finance/how-insurers-underwrite-high-value-art-and-jewellery-collections-of-ultra-hnis-risks-premiums-claims-and-tax-treatment-13871373.html](https://www.moneycontrol.com/news/business/personal-finance/how-insurers-underwrite-high-value-art-and-jewellery-collections-of-ultra-hnis-risks-premiums-claims-and-tax-treatment-13871373.html) --- ## Office Locations - [New Delhi](https://ksandk.com/locations/top-corporate-law-firm-in-delhi/) (HQ): +91-11-41318190 | info@ksandk.com - [Mumbai](https://ksandk.com/locations/top-corporate-law-firm-in-mumbai/): 3 offices (Nariman Point, Lower Parel, Andheri) | mumbai@ksandk.com - [Bangalore](https://ksandk.com/locations/top-corporate-law-firm-in-bangalore/): bangalore@ksandk.com - [Chennai](https://ksandk.com/locations/chennai/): chennai@ksandk.com - [Hyderabad](https://ksandk.com/locations/hyderabad/): hyderabad@ksandk.com - [Pune](https://ksandk.com/locations/pune/): pune@ksandk.com - [Kochi](https://ksandk.com/locations/kochi/): kochi@ksandk.com ## Contact - [Contact Page](https://ksandk.com/contact-us/) - General: info@ksandk.com | +91-11-41318190 - WhatsApp: +91-7428567444 - [Privacy Statement](https://ksandk.com/privacy-statement/) - [Terms of Use](https://ksandk.com/terms-of-use/)