Tds applicability on interest received by legal heir
This query is : Resolved
Ramakant Gupta
(Querist)
10 November 2012
In case of enhanced compensation on compulsory acquisition of land, Interest received by more than one person who are nominee and individual amount of interest on the hand of individual was less then Rs.5000 but total amount of interest was above Rs.5000. So, please tell me whether tds deductible or not?
CA PARAS BAFNA
(Expert)
10 November 2012
The amount being paid to each person(payee) is if less than Rs. 5000/-, TDS is not required to be deducted.
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