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Motor vehicle compensation case

(Querist) 01 March 2008 This query is : Resolved 
Hello,

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.
Aniruddha.P.Pawse (Expert) 05 March 2008
Hi Bhargav,

Yes Lawyer's fees can be allowed as a deduction from tax. However Lawyer's bill cum receipt are required.

Rgds,
manmeet singh arora (Expert) 05 March 2008
1.THE LAWYER HAS TO PROVIDE A BILL AND REPORT OF THE PARTICULAR CASE HANDLED IN ORDER TO BE ALLOWED FOR DEDUCTION IN TAX.
Deepak Rikhari (Expert) 28 March 2008
Yes you can claim for deduction of a lawyer's fee. But you need a bill from your lawyer in this regard.
Srinivas.B.S.S.T (Expert) 20 June 2008
a stamped receipt issued by the lawyer acknowledging the receipt of the fee shall be filed so as to avail deduction.
SANJAY DIXIT (Expert) 22 August 2008
You may claim deduction of lawyer's fees from tax.


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