Gold valuer's fee paid by bank -tds applicable or not.

bujjulu (e-TDS + IT return filer Hyderabad)   (729 Points)

27 March 2013  

The banks who are offering loans against jewellery /. gold utilise the services of the Valuer.

I understand that none of the banks are deducting TDS from the professional fee paid to him.....Wy..!!! 

Is it correct....!