Tds on credit card commission
This query is : Open
24 March 2012
Can anyone guide me as to whether TDS has to be deucted on credit card commission charged by the bank from the merchant dealers ?
Guest
Guest
(Expert)
24 March 2012
No tax need to be deducted bank makes d payment to merchant dealers aftrr deducting commission. As such banks r out of the perview of tds. V dont with hold tax on BG commision, processing charges paid to bank etc..
Message likes :
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24 March 2012
The expert is correct and I agree with him
25 April 2012
but can any one tell me what can be drafted in a letter to the income tax officer..?
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