interest on compensation award by court ?
This query is : Open
CA Dipesh Jain
(Querist)
04 May 2016
Hello
can interest on compensation award by the order of court, taxable ?
can assesses claim benefit under section 57 ?
05 May 2016
1. Interest is taxable.
2. Deduction u/s 57 (iv) is permitted.
2. Deduction u/s 57 (iv) is permitted.
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Rupesh Jain
(Expert)
05 May 2016
yes it is taxable under income from other source and you cna claim the dedcution 50% of intt u/.s 57
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CA Dipesh Jain
(Querist)
05 May 2016
Thank u sir
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