TDS under section 194A of the Act on interest on fixed deposit made on direction of Courts

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..... Section 194A of Income Tax Act, 1961 ("the Act") stipulates deduction of tax at source (TDS) on interest other than interest on securities if the aggregate of amount of such interest credited or paid to the account of the payee during the financial year exceeds the specified amount. 2. In the case of UCO Bank in Writ Petition No. 3563 of 2012 (available on NJRS at 2014-LL-1111) and CM No. 7517....

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....ccepted the aforesaid judgment. Accordingly, it is clarified that interest on FDRs made in the name of Registrar General of the Court or the depositor of the fund on the directions of the Court, will not be subject to TDS till the matter is decided by the Court. However, once the Court decides the ownership of the money lying in the fixed deposit, the provisions of section 194A will apply to the r....