goodwill
V Vinodkumar • 27 March 2018
one of my client was running a case against his lessor of his business premises from past few years. n ow he came to settlement and he is receiving sum amount as goodwill to withdraw the case. can any body clarify me that weather he is liable to pay tax for the same and if it is yes at what rate.
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goodwill
Replies (1)
Any such out of court settlements are charged under Income from other sources & taxes as per slab rate. (subject to settlement terms)
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