https://www.taxtmi.com/caselaws?id=157803 Interest on motor accident compensation is taxable as income and accrues year to year from the date of the claim petition until deposit, so TDS under section 194A must be tested on a yearly, claimant-wise basis after apportionment of shares. The insurer or vehicle owner must compute interest for each financial year, deposit only the amount actually liable to deduction, and the Tribunal must apportion and permit withdrawal where no tax liability arises. Any excess tax already deducted may be claimed as refund before the income-tax authority. en-us Wed, 04 Oct 2006 00:00:00 +0530 Thu, 22 Feb 2024 17:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157803 Interest on motor accident compensation is taxable as income and accrues year to year from the date of the claim petition until deposit, so TDS under section 194A must be tested on a yearly, claimant-wise basis after apportionment of shares. The insurer or vehicle owner must compute interest for each financial year, deposit only the amount actually liable to deduction, and the Tribunal must apportion and permit withdrawal where no tax liability arises. Any excess tax already deducted may be claimed as refund before the income-tax authority. Case-Laws Income Tax Wed, 04 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157803