TDS
This query is : Open
13 April 2009
Company X providing card swiping machines to various murchants and getting service charges for the same, all transactions are routed through card issuing bank and a settlement bank. Company X getting service charges from various merchants in turn Company X paying commissions to card issuing bank and settlement bank for their service. I need to know whether TDS need to be deducted while making such payments to banks.
13 April 2009
Yes. Tds will have to be deducted on payments of commissions to both the banks.
15 April 2009
but section 194(3)exempt TDS deduction while making payemnts to banks, is it applicable here..............
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