LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Bhargav   01 March 2008 at 15:20

Motor vehicle compensation case


I have got a query that whether Advocate's
fees can be allowed as deduction u/s 57(3) in the following case?

Client received some compensetion after
20 years. The principal award amount is
not charged to tax as capital receipt.
But The interest amount is huge.
Now he wishes to claim deduction of lawyer's fees from interest amount as he says it was is deductible u/s 57(3).

plz reply.

SANJAY DIXIT   15 February 2008 at 22:08

Income Tax Rebates

What type of rebates are available for 2007-2008 Fin. Year under Income Tax Act?
What is the max. limit U/s 80(d) in I.T.Act for the current fin. year?