Will u Pls tell me whether the interest received for late payment on accident Compensation of MACT claim is taxable or not? I m aware that the compensation is exempt in the hands of legal heirs but pls tell me the taxation effect of Interest recd. on the same in the hands of legal heirs of deceased. the client wants refund of TDS deducted on the said interst
Thank you
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Treatment of MACT claim interest in the Hands of legal heirs
Replies (3)
wt is the meaning of MACT claim??
MACT means Motor Accident Compensation Tribunal
| Originally posted by :Karnik Pandya | ||
| " | Will u Pls tell me whether the interest received for late payment on accident Compensation of MACT claim is taxable or not? I m aware that the compensation is exempt in the hands of legal heirs but pls tell me the taxation effect of Interest recd. on the same in the hands of legal heirs of deceased. the client wants refund of TDS deducted on the said interst Thank you |
" |
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