Dear all, I have an query about taxability on compensation received by an individual family member. Case:- Mr.A was hired as a contract labour with ABC ltd(construction co.) for restructuring of roads. while working, Mr A came down under the dumper . family member of Mr.A got compensation for such cause from contractor. Now my question is whether this is taxable in the hands of family members of Mr.A thanking you all and I would be very happy if i can get any supreme court judgment for such case/s a
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Compensation recd by family members from contractor on death
Replies (3)
The CBDT, through circular No, 573 dated August 21, 1990, has clarified that a lump sum payment made gratuitously or by way of compensation or otherwise, to the widow or other legal heirs of an employee, who dies while still in active service, is not taxable as income under the Income-Tax Act, 1961.
Further, reliance can be placed on a decision of the Mumbai Tribunal in the case of ACIT vs late Shri Anil Bhatia. Thus, it may be inferred that such an amount shall not be taxable.
Thank You for the reply Sir.
Also I ll think about this. But Small confusion. So, I'm not reply.. Also now I confirmed it...
Thank you for the Confirmation Dear Sir...
🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏
Also I ll think about this. But Small confusion. So, I'm not reply.. Also now I confirmed it...
Thank you for the Confirmation Dear Sir...
🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏
Thank you all...........
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