cpc

tax laibility


Dear Legal Experts,

Wife filled Dowry cases on Husband, Later got compromise in High court with 6 Lacks rupees to be paid by husband to wife, husband paid by giving Demand Draft in High court to wife.

Husband got divorce by MCD later.

Do wife need to pay the income Tax on this amount of Rs 6 Lacks or no need to pay.

Please give your valuable opinion on this.

Regards

 

 
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Lawyer in Hyderabad.wats app no.9989324294

No need to pay.

 
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Even if she is earning and coming in tax slab...this 6 lacks will topup on her salary..

regards

 

 
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CEO

Need not pay.

 
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If the amount is lump sum then the same shall be treated as a capital receipt and not liable to tax. However, if the money is received on recurring or regular basis then it will partake the nature of income and would be liable to tax.

 

Since this is a lump sum payment, the same is in the nature of capital receipt and there shall be not tax implications. However, merely for the sake of disclosure, I recommend that it be shown by the recipient as "Exempted Income." while filing the return, although it's not an income.

[You have the option to not to show this as exempted income. It's just a recommendation.]

 
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