24 February 2017
I was awarded compensation of Rs. 13,00,000/-lakhs with interest @ 6% pa. Insurance Company challenged the said award and the compensation was upheld by the High Court. Rs. 13,00,000/- plus interest of about Rs.6 lakhs was deposited by the insurance Company in November,2016. However, Insurance Company has effected TDS of about Rs.1,50,000/- out of Rs.6 lakhs interest component. Is the Insurance Company justified in making this deduction?
25 February 2017
Mr.Ramji Kumar Dubey, Compensation was awarded by the Motor Vehicle Claims Tribunal as compensation under Motor Vehicles Act. Thanks & regards.