Tax on credit card commission

This query is : Resolved 

13 May 2013 Can u tell me whether tax is deductible on credit card commission prior to 1-1-2013?

13 May 2013 If it is more than 5000, 10% tax is deductible.

15 May 2013 It is a vexed issue.

i) Notification 56/2012 says the effective date as 1/1/2013.

ii) Press release says 'notification issued u/s 197A(1F) is to clear the uncertainties in the TDS provisions'.




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