on Divorce Lump sum payment received are Tax free and monthly payments received are taxable
Facts of the case During the previous year relevant to the assessment year 2008-09, the assessee received lump sum payments from her ex-husband ‘P’, a national of Germany. She did not admit any tax liability on the said amount. Assessee’s View :- She stated that (i) there was an agreement between her and ‘P’ for custody,… Read More »