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loan waiver scheme

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(Querist)
05 January 2010 As scheme of 'Agricultural Debt Waiver and Debt Relief Scheme 2008' declared by govt of India. One of my client got the loan waiver about Rs. 2,10,000/-. The loan waiver amount is Rs. 2,10,000/- is taxable or exempt. please help me.
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CA Vijay Kumar Gupta

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CA Vijay Kumar Gupta (Expert)
05 January 2010 In my opinion, it is a capital receipt. Hence exempt from tax.
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Dhirajlal Rambhia

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

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