https://www.taxtmi.com/caselaws?id=302112 The court upheld the deduction of Rs. 6571/- towards TDS by the Petitioner/Company, affirming that it was justified under Section 194A of the Income Tax Act, as the interest exceeded Rs. 50,000. The court ruled that interest on compensation should be spread over the years from the claim filing to payment, and TDS applies if the interest for each claimant exceeds Rs. 50,000 in a financial year. Claimants must provide a declaration to waive the TDS obligation of the Insurance Company before receiving interest. The appeal was disposed of accordingly. en-us Tue, 23 Nov 2010 00:00:00 +0530 Mon, 20 Nov 2023 13:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302112 The court upheld the deduction of Rs. 6571/- towards TDS by the Petitioner/Company, affirming that it was justified under Section 194A of the Income Tax Act, as the interest exceeded Rs. 50,000. The court ruled that interest on compensation should be spread over the years from the claim filing to payment, and TDS applies if the interest for each claimant exceeds Rs. 50,000 in a financial year. Claimants must provide a declaration to waive the TDS obligation of the Insurance Company before receiving interest. The appeal was disposed of accordingly. Case-Laws Income Tax Tue, 23 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302112