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2022 (2) TMI 1095 - HC - Income TaxMotor Accident Claims - tds on the interest component deducted by insurance companies - petitioners are claimants of motor accident compensation - petitioners contend that the interest is not taxable and insurance company ought not to have deducted tax at source thereon - divergent views amongst different High Courts on the point - HELD THAT:- In view of the position and also considering the importance of the issue as also the fact that the issue is a recurring one arising in large number of motor accident claim cases, it is desirable that there is an authoritative pronouncement on this question by Larger Bench. Under the circumstances reference may be made to the Larger Bench on following question:- “Whether the interest payable on motor accident claim compensation is exigible to tax and resultantly is the insurance company required to deduct tax at source while making such payment to the claimants?”
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