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Tds on bond commission

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(Querist)
04 June 2012 We provide a investment services as a principal broker to the clients.

In this connection we have recd a Bond Commission Income from HUDCO Bond. We are also liable passout the same to our sub brokers / agents.

Is there any liability to deduct a TDS on passout of Bond commission in 194H.

Kindly guide us.
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Prof. Bajaj

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Prof. Bajaj (Expert)
05 June 2012 Yes. In my opinion, If the commission is more than Rs. 5000 then you need to deduct at 10%.
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Soumitra Basu

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Soumitra Basu (Expert)
06 June 2012 I agree with Prof. Bajaj. I may add that if you do not deduct tds then the expenses shall be disallowance under section 40(1)(ia)
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