Do we get the proceedings from a case tax free?

[Alphathinker3246]

A

Alphathinker3246
PARTICIPANT
March 22, 2025 at 2:54 am

As the title says, If I win a lawsuit and have to receive money from the other party, is it tax free?

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[Quickninja192]

Q

Quickninja192
PARTICIPANT
March 22, 2025 at 3:00 am

it depends on nature of case.. cause of action.. it is not a yes or no thing..

narrate more facts .. or search about the concept of capital receipts & revenue receipts

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[Alphathinker3246]

A

Alphathinker3246
OP
March 22, 2025 at 3:50 am

Oh okok, Thank you

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[Sapanmaster587]

S

Sapanmaster587
PARTICIPANT
March 22, 2025 at 6:33 am

Need for facts to answer.

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[Alphathinker3246]

A

Alphathinker3246
OP
March 22, 2025 at 6:45 am

Oh okok, i was only curiuos

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[Sapanmaster587]

S

Sapanmaster587
PARTICIPANT
March 22, 2025 at 6:50 am

In short if you get it in some serious things like you actually suffered it’s not taxable.

For other example if you get a compensation for police brutality it’s not taxable, but if you win a case against Zomato for mishandling your order it’ll be taxable.

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[Alphathinker3246]

A

Alphathinker3246
OP
March 22, 2025 at 6:56 am

Oh I see, makes sense, thank you

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