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Compensation
I would get the actual amount of Compensation whatever or it would be decutable Compensation.
Replies (11)
firstly plz provide compensation received from...!
I should get Compensation under Section 28
in accounting or in bill
it would be taxable under the head business and persona.
*business and professional
it's trading it comes under services
means that Compensation goes to CA or Lawyer
As per sec 28 (ii) Any compensation or other payment due to or received by any person, by whatever name is called.
it would be treated as income under the head of business and professional.
if it is fall under 10 (10BC ) is exempt
a) competition for any disaster (natural or manmade) &
b) received by individual / legal hire &
c) Given by central or state government/ local authority.
it would be treated as income under the head of business and professional.
if it is fall under 10 (10BC ) is exempt
a) competition for any disaster (natural or manmade) &
b) received by individual / legal hire &
c) Given by central or state government/ local authority.
From where I will get that Compensation
this changed
means I will get from government
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