Any compensation paid to employee after legar hearing is allow as expenditure in income tax?


This query is : Resolved 

Quick Summary
This discussion explores whether compensation paid to an employee following a legal hearing can be claimed as an expenditure for income tax purposes. The consensus is that if the payment is due to an accident and no insurance was in place at the time, it can likely be claimed under expenses related to accidental loss.

29 July 2024 Any compensation paid to employee after legar hearing is allow as expenditure in income tax? under which head expenses should book ???

Pls answer

30 July 2024 Need to check the reason for the payment.

30 July 2024 some accident was happend & we paid him 116300/- after labour court order

30 July 2024 Whether any insurance claim received for the accident?

30 July 2024 some accident was happend & we paid him 116300/- after labour court order

30 July 2024 no insurance policy at that time

30 July 2024 You may claim it under compensation paid over accidental loss.

30 July 2024 no insurance policy at that time

30 July 2024 THANKS SIR .............

30 July 2024 You are welcome.


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