Tds on processing fees paid to american express credit card

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 January 2016 Our company has obtained the facility of credit card from American Express Credit Card. The said company even though has banking license - it is a foreign bank. On the said credit card, the company has given us the channel financing limits and it has charged us processing fees for it. So whether the processing fees paid to them of Rs.30000 is liable for TDS. Pls reply.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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29 January 2016 For processing Fees I dont think so you have to deduct TDS.my opinion you need not deduct tds

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Advocate

Advocate (Expert)
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30 November 2016 No any TDS will be deducted u/s 194 C for processing fees paid to AMERICAN EXPRESS CREDIT CARD (AMEX CARD) as your company had not handover any contract to AMEX . rather you are bound to pay credit card processing fees.
IN THE ABSENCE OF ANY VISIBLE CONTRACT, YOU CAN'T DEDUCT TDS ON PAYMENT TO AMEX.

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