Quote on Union Budget 2026 by Manoj Purohit, Partner - Financial Services Tax, Tax & Regulatory Advisory, BDO India
Below the Quote on Union Budget 2026 by Manoj Purohit, Partner - Financial Services Tax, Tax & Regulatory Advisory, BDO India
"There has been ambiguity on the applicability of TDS and its taxability in the hands of the recipient on the interest awarded by the Motor Accident Claims Tribunal (MACT), considering the compensation amount being paid under a court/tribunal order. The Budget 2026 proposal to not tax such amounts as income will settle the long-standing ambiguity, thereby reducing litigation for insurance companies arising from TDS implications and also for recipients while filing their returns of income. This move will also ensure faster settlement of claims by insurance companies."
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Quote on Budget 2026 by Mr. NS Venkatesh, CEO, Bharat InvITs Association
