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Money and Assets received on Divorce

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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?

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.

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