alleryStart learning →Interest credited on compensation awarded by the Motor Accidents Claims Tribunal under 194A
AIs taxed at double rate
BIs taxed after audit
CIs taxed on half
DEscapes deduction
Answer & Solution
Correct answer: D. Escapes deduction
Clause (ix) excludes interest credited on compensation awarded by the Motor Accidents Claims Tribunal from section 194A.
Keep practising Deduction, Collection and Recovery of Tax
Browse all Deduction, Collection and Recovery of Tax questions for CA Final, or explore more Taxation topics.
Related questions
A shorter payment period than thirty days needs previous approval of theDefault in one instalment under 220(5) makes the assessee in default forUnder 220(3), the Assessing Officer may allow the assessee to payLate payment of a demand attracts simple interest per month atUnder section 220(1), a demand notice amount is payable withinA collector must give the buyer a certificate that tax has beenCollecting tax at source under 206C isA seller fails to collect tax under 206C. He is still liable to