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Will i face troubles with Income Tax for alimony?


18-Sep-2024 (In Divorce Law)
I am thinking to give 2 crores cash as alimony settlement. Will i land into IT problems because of this either now or in future?
Answers (4)

Answer #1
575 votes
It is always advisable to give alimony via banking transaction to keep a healthy evidence of your alimony and settlement. You can definitely make part cash payment but better to do it via cheque/DD/NETF/RTGS
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Advocate Rahul Mishra

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Answer #2
968 votes
Dear queriest, if you already have so much in your account then it is already going to be counted while your filing returns, in case if your paying it through cash then there is nothing to do with the IT dept since there is nothing to show that you have paid such a huge amount to pay alimony for more information about the same kindly call
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Advocate Dhananjay Ravikant Gangawane

Adv. Dhananjay Ravikant Gangawane

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Answer #3
807 votes
Not at all, If you are paying the alimony to wife that amount will not be taxable if that one is on record you earned. Or you can show less amount on record and take in writing that she had given up her entire rights.
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Advocate Manoj Mulchandani

Adv. Manoj Mulchandani

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Answer #4
667 votes
You may get or you may not. If you have earned your income from legitimate sources, rightful sources, not by doing scam or money laundering then you can give Rs 2 crores as Alimony and it won't create legal problems for you while filing IT Returns
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Advocate Pankaj Bajaj

Adv. Pankaj Bajaj

LawRatoMumbai | 1000+ Answers
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