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He have to pay income tax?
If someone has an accident and he goes to bed rest for 1 year, in lieu of that the front party has given him a compensation of ₹ 10 lakh, then will he have to pay income tax?
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The plea stated that the receipts of compensation are non-taxable under the Income Tax Act and therefore, the interest under the motor accident claims should not be made taxable. ... "Under tax laws, it is well settled that if a receipt is meant to substitute a source of income, it is a capital receipt
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