Sum received by spouse as compensetion after devorce.

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sajjan ropiya (Querist)
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26 December 2012 what are the various income tax provision for sum received as compensation by spouse after devorce from his/her spouse? As per the defination of income this status is come under the categery of brich of contract so it shuld become the term income? If it is taxable then in which head? Other surrounding points also reflects.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 December 2012 i) Lump sum amount received is tax free being capital receipt in nature.
ii) Monthly amount received is taxable under the head 'income from other sources'.

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sajjan ropiya

sajjan ropiya (Querist)
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26 December 2012 Thanks Sir

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Sum received by spouse as compensetion after devorce.

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