Section 194A
This query is : Resolved
15 January 2009
If accrued interenst U/S 194A(3)(iX) is more than Rs. 50000 (compensation awarded by MACT) TDS need to be dedcuted, please clarify for this particular section payment basis is to be followed or accrual system is to be applied (relevant if the amount is awarded in one FY and payment made in another FY)
16 January 2009
In case of MACT, Interest is required to be calculated upto the date payment. So you have to consider total amount of interest upto the date of actual payment.
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