Capital Receipt

Hi, I was the director shareholder of a company. My partners forged my signatures to resign directorship and snatch my shares. For which I filled civil/ criminal cases against him. Now I would be receiving Rs.50L for settling all that matter and withdrawl of the cases.

Will I need to pay tax for it. Is the amount comes under " Capital Receipt"?

 

Replies (1)
It is not a capital receipt. It will be taxable as business perquisite u/s 28 (Don't let the word 'perquisite' mislead you).

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