Can anyone tell me what the Indian and/or California/US federal tax implications are for a judgement award from a California civil court?
The amount is in US$ 5 digits which comes down to US$ 4 digits after deducting the share of the American judgement enforcer; and includes the civil award, court expenses and legal interest award for the time of judgement (awarded in 2012) to recovery (now). But is still overall lesser than what has been expended on legal fees over the years on the case.
Thank you
CAclubindia
