Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 September 2013 if a company make contract with broker, then while making payment to broker ,Tds should deduct as per sec.194C or 194H?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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10 September 2013 it is nature of service, if you are paying brokerage under contract also will apply 194H 10%

CA Pallav Singhania

CA Pallav Singhania (Expert)
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10 September 2013 Any person, not being an individual or HUF whose accounts are not subject to tax audit in the preceding year paying Brokerage should deduct TDS under section 194H @ 10 percent..

However, No TDS
Where Amount of payment in aggregate not exceeding Rs.5000/- during the financial year.

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