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/-

Anumanchipalli Sathikonda

Anumanchipalli Sathikonda (Expert)
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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

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