I have received 8 Lacs compensation over and above original amount as legal fees form Consumer Court. Is this Taxable??? which Head? what expenses are allowed against it?
Menu
Proceeds from Consumer court
Replies (2)
Yes.
Under IFOS
All legal expenses, court fees etc. are deductible.
Not taxable
Recent Threads
- What's CGAS?
- A Comprehensive Guide to Modern Digital Marketing
- Income tax status
- Demand raised for 'Self assessment tax' amount AY2
- TDS payment using Form 26QB when buying property o
- Export sales not realised payment not received fro
- RCM related queries
- Negative Export Value in GSTR 3B
- Income tax intimation -AY 24-25
- Tax Implications of Alumni Union (R) under Society
Related Threads
CAclubindia
