CCI Online Learning
50% OFF in CA/CS/CMA Subjects
     
CIBIL

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

ACCIDENT COMPENSATION

This query is : Resolved 

aN ASSESSEE WHO MET WITH AN ACCIDENT AND RECEIVED 1800000 AS COMPENSATION WHICH INCLUDES 350000 AS INTEREST . HE IS IN COMA STAGE. I WANT TO KNOW TAXABILITY FOR ASST YEAR 2019-20 WITH REGARDS TO INTEREST ON COMPENSATION & COMPENSATION RECEIPT. ALSO FOR INTEREST 50% DEDUCTION IS AVAILABLE U/S 57


Compensation is capital receipt not taxable. Interest is taxable.

wHETHER 50% DEDUCTION AVAILABLE ON INTEREST ON ACCIDENTCOMPENSATION U/S 57

Not available. File ITR claim excess TDS refund.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


Similar Resolved Queries :





Trending Tags
GST Live Class    |    x