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Money received from a firm

Atharv Sankliya (1323 Points)

06 July 2022

money received from a firm for not filing a civil suit against firm

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3 Replies

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 06 July 2022

Same is treated as compensation.

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Mahesh Shah (2308 Points)
Replied 07 July 2022

Right to relinquish to sue is a form of capital income.....and hence not taxable
it is capital reciept

1 Like

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 08 July 2022

Same is taxable

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