T.d.s on brokerage

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 May 2015 My client received brokerage 5000 to 20000 from various partyes who has no liabilities for Audit, please inform me about TDS liabilities in detail.

Thanks

Girish Shah

Nikhil Kaushik

Nikhil Kaushik (Expert)
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10 May 2015 those parties wont deduct TDS in such a case. So your client will have to pay tax on his own as self assessment tax/advance tax

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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11 May 2015 In case your client is Individual/ HUF then they will not deduct TDS but in case of any other entity like Firm, Company etc TDS will be deducted from you u/s 194H @ 10% if the threshold limit of Rs 5000/- is crossed.

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