TDS on compensation

Dear Rajesh,

There is no TDS is applicable on compesation provided on damage of property or assets used by any person.

Payments for damage for compensation of property is not covered  under any section of 192 To 196 of tax deduction in income tax act, 1961. So there will be no tds on such payments.

Above payments in not in nature of

- Contract,

- Service rendered

- Rent payment to person..................

So no tds is paybale on this amount.

From

Manish

 NO TDS TO BE DEDUCTED ON THE REFERRED PAYMENT.

REGARDS

RITESH KOTHARI