Amount received by widow whether taxable?
This query is : Resolved
Rajesh Tarpara
(Querist)
23 March 2018
My client is pvt ltd Company and one of the Technical director died . He was on pay roll of the company. Now The Company want to pay an ex gratia or compensation apart from Gratuity.What the name or head to be given to the said amount so that it is exempted in the hand of the widow and on other side it os allowed as business expenditure?
K Srinivas, CMA CS
(Expert)
23 March 2018
Warrier sir is correct
23 March 2018
Exempted. Inference - CBDT, circular No, 573 dated August 21, 1990.
K Srinivas, CMA CS
(Expert)
23 March 2018
Warrier sir is correct.
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