Money and Assets received on Divorce
This query is : Resolved
Quick Summary
11 July 2024
Are the money and assets received on separation/divorce is taxable?
Is there any limit - say receiving the money in a bank account?
Is there any liability to file ITR in such cases?
Is there any limit - say receiving the money in a bank account?
Is there any liability to file ITR in such cases?
11 July 2024
Lump sum alimony received on divorce is not taxable. There is no limit specified in act.
Yes, report it under Exempt income.
Yes, report it under Exempt income.
25 August 2024
Good Luck.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Sales of goods of amount Rs77 lakhs to a party
- ITR WITH 0 TURNOVER
- Automatic MIS from Tally ERP
- TDS short payment of Rs 120 — how to adjust in new TRACES
- Schedule Dpm under 44ada no account casr
- Value of Perquisite Tax Borne by Employer
- Query related to CA/CS/CMA Firm
- Value of Perquisite Sec.10 (10CC)
- How to pay tds on mhada property
- NRI get transferred fund from his own Indian account to his foreign US account without any approval
- ITR-3 - How to show loss in 65(i) - (iii) under under Part A - P & L section and sub section 65?
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
