16 December 2009
I am having a query. If a depository pays rent on behalf of a company to NCDEX and later asks for reimbursement. The depository is asking not to deduct TDS while making the payment to them and issuing a debit note to the company.Is it required for the company to deduct TDS u/s 194-I on such reimbursement or not. Similarly I wish to be clarified on the matter that - are reimbursement of expenses subject to TDS under other sections.
16 December 2009
The depository is an intermediary you cannot apply TDS on them TDS is to be deducted on rent paid to NCDEX send the note to NCDEX and collect the TDS
CAclubindia
