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Compensation under motor vehicles act

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(Querist)
21 June 2008 Whether compensation under the motor vehicles act and the interest on the same is taxable in the hands of recipent and if yes then under which head of income and in which year if received after legal proceeding for about 5 -10 years?
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PC-www.bharadwajinstitute.com

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PC-www.bharadwajinstitute.com (Expert)
21 June 2008 Interest is taxable in the hands of the receipient...under head income from other sources..
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Abhijit

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Abhijit (Querist)
23 June 2008 and what about the compensation received is that also taxable ?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
16 June 2023 "Sorry, I am not a featured member."

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