Tds on bond commission
This query is : Resolved
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.
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.
05 June 2012
Yes. In my opinion, If the commission is more than Rs. 5000 then you need to deduct at 10%.
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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