Regarding tds on commission paid to bank
This query is : Resolved
16 April 2013
whether TDS is required to be deducted on transaction charges paid to bank for credit card payment accepted by merchants from there customers.
further as CA PARAS BAFNA commented on 11 feb 2013 regarding the same query where he states that there is notification wrt which there is 7 types of payments to bank are exempt from TDS liability and that 7 types also includes transaction charges which i mention above.
please provide me with that notification number as i can quote that notification number in the appeal.
thank you
further as CA PARAS BAFNA commented on 11 feb 2013 regarding the same query where he states that there is notification wrt which there is 7 types of payments to bank are exempt from TDS liability and that 7 types also includes transaction charges which i mention above.
please provide me with that notification number as i can quote that notification number in the appeal.
thank you
16 April 2013
NOTIFICATION NO. 56/2012 [F. NO. 275/53/2012-IT(B)], DATED 31-12-2012
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16 April 2013
thank you for notification number, i have one another query about effective date date of the said notification, because in the notification it is worded that "this notification shall come into force from the 1st day of january 2013" so whether this notification is applicable only after this date or is it applicable for earlier assessment years also and if there is a specific retrospective date is available then please provide that date.
also post a case law regarding the same.
thank you
also post a case law regarding the same.
thank you
16 April 2013
After the mentioned date.
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31 May 2013
Banks can deduct but you cannot deducts TDS from Bank
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