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compensatin from employer, Income Tax

Issue Id: - 108653
Dated: 26-5-2015
By:- varinder singh

compensatin from employer

Contents

I am a senior citizen 70 years old and have been fighting case in court with my employer for wrongful termination from last 12 years.Recently settlement took place and the court awarded me compensation ( not salary ) . Kindly let me know whether the compensation is taxable or not.

If yes according to IT laws it is revenue or capital receipt.

Your reply will be highly appreciated as am in great need.

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