Settlement Amount on property apportion
This query is : Resolved
08 September 2009
Dear Sir/Madam,
My wife will get an amount of Rs. 300000/= as a settlement from their family through property apportion. We would like to know whether that amount would be a taxable and while depositing into bank, what support documents are required.
Thanks,
Subramani.
My wife will get an amount of Rs. 300000/= as a settlement from their family through property apportion. We would like to know whether that amount would be a taxable and while depositing into bank, what support documents are required.
Thanks,
Subramani.
08 September 2009
IT IS CAPITAL RECEIPT AND NOT TAXABLE
YOU NEED FAMILY SETTLEMENT DEED TO SUPPORT
YOU NEED FAMILY SETTLEMENT DEED TO SUPPORT
08 September 2009
Agree it is capital receipt.
09 September 2009
Thank you both for your calrification.Regards,Subramani.
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