sree
(Querist) 12 July 2008
This query is : Resolved
whether TDS should be deductible for inrest paid on compensation awarded by workmen compensation Act
Guest
(Expert) 12 July 2008
Section 194A(3)(ix) of the Act excludes payments under MACT. You can take the same benefit here also therefore it is exempt from deduction at source.
sree
(Querist) 12 July 2008
Thanks for your reply, but as per Section 194A(3)(ix)the exemption is only up to Rs. 50000 (interest amount) for MACT cases. Plese let me know if the same rule applies to Workmen Compensation Act, if so kindly give some references.
Guest
(Expert) 21 July 2008
No finding that easily. I will try to search from books and get back to you, in case I get it.
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