27 February 2010
My question here is whether TDS liability arise on Brokerage paid for NCDEX trading and NBOT trading under Sec 194 H , as it exempt brokerage On securities ?
03 March 2010
Brokerage for the transaction in NCDEX and NBOT are liablie to TDS considering the same as income under the head "Brokerage and Commission".
The trading activities in NCDEX/NBOT are covered under the head "Income from Business".
The provissions of Income Tax are applicable accordingly.
CAclubindia
