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Compensation to rape victims on order of court is taxable or exempt?
I wish to know the taxability of compensation received by a victim of rape from the alleged person on the order of court what would be the treatment of it in income tax law??
Replies (6)
Compensation by government are Exempted under income tax sec 10
Not received from govt boss I specifically stated from the alleged person on the award by court...
It is not an income bro.Its a capital receipts so dont think much abt it's taxation .If the capital receipts which are specifically included in income definition then only it is liable for taxed .so it is not taxable in the first instance .
Compensation is not taxable. It's a capital receipt.
Need to think from every angle as the amount is huge , otherwise it can welcome anything
but anyways thanks for your advice..
but anyways thanks for your advice..
Better you take help of paid tax consultant personally as amount you said is very high.
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