Income tax on compensation recd from husband
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 January 2014
IS ANY PAYMENTS RECEIVED FROM EX HUSBAND AFTER SETTLEMENT OF ANY DIVORCE CASE AMOUNTS TOTAL IS Rs:16,95,620/-
04 January 2014
Mr./Ms. XXXX
You are speaking of "ALIMONY". As per the ruling of Bombay High Court in the case of Pincess Maheswari Devi of Pratapgarh, Poona Vs. Commissioner of Income-tax [1984]147 ITR 258 wherein it has been held that one time alimony received is a capital receipt and is not taxable. Monthly alimony is an income and is taxable.
Best Wishes
Sathikonda
You are speaking of "ALIMONY". As per the ruling of Bombay High Court in the case of Pincess Maheswari Devi of Pratapgarh, Poona Vs. Commissioner of Income-tax [1984]147 ITR 258 wherein it has been held that one time alimony received is a capital receipt and is not taxable. Monthly alimony is an income and is taxable.
Best Wishes
Sathikonda
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