any person find missing girl by spending 20000
and got award of 120000
is expenditure alowable as deduction ?
and what is its taxable incom?
other income
net 100000 will be taxable
expense allowed under section 57
3 Replies
Parv Kumar
(Student)
(4037 Points)
Replied 07 November 2017
Yes expenditure allowed.
Taxable income will be Rs.100000/-
Taxable income will be Rs.100000/-
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 07 November 2017
Where from the award...??
It's from govt then treat as tax free (Exempted)
It's from govt then treat as tax free (Exempted)
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