Tax on Compensation awarded by Court
I am 70 yrs old senior citizen. I was fighting a legal battle with my employer NPCIL for last 25 yrs. Now the case is decided in S C. NPCIL wrongly relieved me from service on 16 Sep.1992. I appealed in SB High Court,where order was in my favour,NPCIL appealed in DB High Court, here also order was in my favour for re instatement.
Against this order of DB High Court, NPCIL filed SLP, where Supreme Court ordered NPCIL to deposit 20 lacs in court then only they will be entertained and the money was deposited in SBI as FD.
The case was decided on 09/01/2018 in my favour and the court awarded small compensation, is this money taxable?
The bank gave me the money with interest on 20 lacs as per court order after deducting TDS.
COURT ORDER-"keeping in view the facts and circumstances of the case, we direct the said amount along with accrued interest be released in favour of the employee concerned.'
The bank gave total money with interest after deducting TDS ,one time only as per order of CBDT under SEC 194A.
My querries are-
1.Whether the money awarded is a Capital Receipt?
2. Is this money is considered as salary and relief is asked under Sec. 89?
3.interest earned on 20 lacs every year is consider my income, dealt with other income in that year.