1) shall RECEIVE 10 LACS IN MUTUAL DIVORCE SETTLEMENT CASE

2) 5 LACS ON PAPER MENTIONED IN THE SETTLEMENT PETITION AND 5 LACS NOT MENTIONED .( ALL IN CASH )

3) ALREADY HAS 2 LACS FD ON HER NAME AND SALARY IS 25000/-.

4) INTERESTED IN DOING FD WITH BANK FOR 6 MONTHS OF THE 10 LACS AMT WHICH HE WILL REC

5) MUTUAL SETTLEMENT INCOME IS TAXABLE or no ?

5) PLS LET ME KNOW HOW CAN I GO WITH ALL THIS TO SAVE TAX AND GET GOOD RETURNS


Admin’s Response:

Mutual settlement receipts are not taxable as it comes from the already taxed money of someone. Your savings and returns depends on your choosing of suitable options out of various investment schemes available. You may contact a Taxgyan expert in your city to fix up a personal meeting to explain the circumstances of your case for most ideal suggestions. Please email us at info[at]taxgyan.com to do that.