Taxability of Income received from bank

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..... Can Amount received on one time settlement with bank , be taxed as income . - Reply By Rama Krishana - The Reply = All depend upon the nature of transaction, the issue behind the settlement. Whether .....

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..... the issue related to revenue transaction or capital transaction. For more details, you may refer to the following case law: 2008 TMI - 30879 - HIGH COURT DELHI - Reply By DEV KUMAR KOTHARI - The Rep .....

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..... ly = Your query is not clear. Amount received on one time settlement with bank - in OTS bank receives money and not the customer. I believe you are seeking clarity in case of bank and not customer of .....

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..... bank. Interest recovered in OTS , if not taken as taxable income will be taxable on receipt. Amount recovered on a/c of principal will not be taxable, unless it was allowed as bad debt/ loss earlier. .....

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..... - Taxability of Income received from bank - Query Started By: - satbir singh wahi Dated:- 20-11-2009 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by a .....

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..... n expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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