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TDS on interest on Compensation
A person get compensation 2400000 it includes interest of Rs 1300000 (as per court order) is attract TDS ?if his family received that amount is TDS will attract?
Replies (4)
if the interest is on compensation awarded by motor accidents claim tribunal of an amount exceeding 50,000 then only required to deduct tds
& for others if more than 5000 then only required
to deduct tds
my opinion may be different if there is any circular regarding your question as far as provisions are concerned TDS is deductible
& for others if more than 5000 then only required
to deduct tds
my opinion may be different if there is any circular regarding your question as far as provisions are concerned TDS is deductible
thank u so much
yes interest will attract TDS....not on accruing basis but when interest is ordered by court.
Thank u
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