FLAT 20% OFF and 3-Months ADDED Validity on All Courses Absolutely FREE! Enroll Now Use Code: INDIA20
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

rohit (www)     23 January 2023

Amount received from opponent in property disputes through court/mediation settlement is taxable?

Hello Respected Sirs/Ma'am,

I have an inherited long legal battle with our tenant over immovable property. Now, it is sent to mediation centre by civil court to find possibility of settlement. I am interested to take money and leave this property through settlement. below are some queries:

  1. My question is that money received through this process will be taxable in any kind ?
  2. what are the modes through which mode i can take money ? Cash is allowed as per law ?
  3. Can I take DD in the name of my wife ? but she is not a registered party in this case

kindly help pls.



Learning

 1 Replies

Shashi Dhara   23 January 2023

Take money in cash don't mention amount submit joint memo as suit is settled out and to dismiss petition.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Post a Suggestion for LCI Team
Post a Legal Query