Money received from a firm
Atharv Sankliya (1359 Points)
06 July 2022
money received from a firm for not filing a civil suit against firm
3 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86500 Points)
Replied 06 July 2022
Same is treated as compensation.
Mahesh Shah
(2339 Points)
Replied 07 July 2022
Right to relinquish to sue is a form of capital income.....and hence not taxable
it is capital reciept
it is capital reciept
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