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income from awards /arbitration

neeraj paul (17 Points)

09 June 2017

how is income from awards /arbitration treated?

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CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 09 June 2017

Award/reward is taxable as income from other sources under the Income Tax Act.

However following is the exemption u/s 10(17A):
Any award instituted in public interest by CG/SG or by any other body and approved by C.G in this behalf

Read more at: /experts/taxability-of-awards-and-rewards-737685.asp

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neeraj paul (17 Points)
Replied 13 June 2017

thank you :)

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CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 13 June 2017

Welcome pleasure is mine.

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