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Ana   09 August 2017

Tax on injury compensation lumpsum by private company

Hi,

If an employee suffered an injury onboard a ship and the company pays him an out of court settlement:

1. Is the company supposed to deduct TDS before disbursing the amount?

2. Once deposited in the bank will this be treated as income to be filed in the returns every year and is the interest accrued taxable?

Regards

 

Ana



Learning

 1 Replies

Ana   17 August 2017

Can someone please clarify?


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