award

142 views 3 replies
any person find missing girl by spending 20000
and got award of 120000
is expenditure alowable as deduction ?
and what is its taxable incom?
Replies (3)

other income

net 100000 will be taxable

expense allowed under section 57

Yes expenditure allowed.

Taxable income will be Rs.100000/-
Where from the award...??

It's from govt then treat as tax free (Exempted)


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