15 September 2009
So lets see what the quetion is: Suppose Mr. A has given Rs.10,00,000/- to XYZ P. Ltd., a portfolio management company to manage his portfolio of shares. Now XYZ P. Ltd. charges Mr. A Rs. 2,00,000/- as its expense for running of workstations and salary of employees exclusively set aside for Mr. A's work. XYZ P. Ltd. also seperately charges its fees. Now my question is that Does Mr. A requires to deduct TDS on payment of the said Rs. 2,00,000/-.also state the section under which TDS is to be deducted.
NOTE: XYZ P. Ltd. is claiming that since it is a reimbursement of expenditure therefore not liable to deduction of TDS. Thanks in anticipation
CAclubindia
