Payment made against redemption of preference.
Can TDS deductible for this payment, If yes , then which sec.
2 Replies
CA Raj Doshi
(Practising CA)
(8939 Points)
Replied 17 May 2024
There is no TDS implication as far as I am aware.
Rajkumar Gutti
(639 Points)
Replied 18 May 2024
In my recent reading,there is a supreme court decesion in Anarkali Sarabhai v/s CIT ( 1997) Taxman 509 ( SC) , Preference shares are movable property and goods, hence redemption of preference share is treated as sales, hence purshaser are required to deduct tds u/s 194Q , if turnover exceed 50 Lacs.
please see is it right?
please see is it right?
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