Money received due to order of court

Others 197 views 1 replies

Year 1982- Mrs A has a property in his name, which is fraudulently sold by Mr. B (her brother)                      at Rs. 30000 and he kept all the money received from sale of property. 

Year 1982 to Year 2011-  family dispute between both Party 

year 2011- Now Suit is filed My Mrs A against his Mr. B (her brother) in court, For Repayment                    of money received on sale of 

year 2019- now court ordered Mr. B (her brother) to Repay a sum of 50 lacs and Mrs. A                            received Rs 50 lacs during 2018-19

Is 50 Lacs received is Taxable income, if yes than in which head ?

Replies (1)

Only capital receipt part from the total amount can be claimed as tax-exempt. Remaining amount would be taxable u/h. IFOS.


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