Taxability of compensation on account of divorce
This query is : Resolved
22 September 2014
Ms. X is receiving compensation of Rs. 50 lakhs on account of divorce by the order of court from his husband. Whether this amount is taxable in the hands of Ms. X?
Nikhil Kaushik
(Expert)
22 September 2014
no. it is a capital receipt.........
24 September 2014
it is not taxable as its not income as per definition of income u/s2(24) and therfore its capital reciept
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