award received on tracing/finding a missing person shall be treated as casual income?
and is that taxable?
No. Such Awards given by Government are treated as capital receipt, and are tax free.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 30 May 2017
No. Such Awards given by Government are treated as capital receipt, and are tax free.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
