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Tds on commission paid to bank

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 August 2014 Dear Sir,
During year 2011-12 we paid commission of Rs 50Lcs commission to national as well as foreign bank with out deduction of tds. please tell me is it mandatory to deduct tds on commission? if no then please provide answer with section

Thanking You
Ravindra Acharya
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
27 August 2014 yes tds is deductible in this case but for foreign bank it is deductible u/s 195.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
27 August 2014 No TDS required to be deducted from any payment made to a bank to which Banking Regulations Act applies.
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