any person find missing girl by spending 20000
and got award of 120000
is expenditure alowable as deduction ?
and what is its taxable incom?
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award
Replies (3)
other income
net 100000 will be taxable
expense allowed under section 57
Yes expenditure allowed.
Taxable income will be Rs.100000/-
Taxable income will be Rs.100000/-
Where from the award...??
It's from govt then treat as tax free (Exempted)
It's from govt then treat as tax free (Exempted)
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