Legal Question in Family Law in India

Re: is there any taxes to be paid on divorce settlement?

The demand draft received through court-process could not be cancelled. anyway, you may take cash and be comfortable. the tax liability comes only on your interest income you may earn every year. since the income may not be taxable, virtually there may not be any liability. Wish you good luck. Be careful.

Re: is there any taxes to be paid on divorce settlement?

No, there is no tax on the alimony received. The Tax is levied on the further interest earned by you on that amount. It is more advisable for you to take the amounts in D.D. than cash.

Re: is there any taxes to be paid on divorce settlement?

Since lumpsum amount is your capital gains the same is not taxable. but interest will be taxable

Re: is there any taxes to be paid on divorce settlement?

HELLO

GOOD MORNING

This will be considered your capital gain so the tax will be applicable only on the interest of annual basis.

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Re: is there any taxes to be paid on divorce settlement?

you should consult this matter to a tax lawyer.