Sister getting one time settlement in divorce is it taxable?
Sister going through divorce and she will be getting one time settlement amount from her husband. Is that settlement amount taxable?
Yes because there is no deduction regarding deduction in respect of divorce settlement money. However, if income of your sister is itself non taxable, i.e. below Rs. 2 Lakhs 50 thousand, then no question of tax arises.
Advocate Tathagata SarkarBarasat, Kolkata
File Mutual Consent Divorce @ Rs. 25,000/- only
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