Hi,
Pls help solve this query :
Co. X in India imports Machineries from Co. Y in China. When payment is made by the Bank of Co. X, the Bank charges commission from Co. X. This is a Pvt. Bank. Is TDS required to be deducted u/s 194H ?
Hi,
Pls help solve this query :
Co. X in India imports Machineries from Co. Y in China. When payment is made by the Bank of Co. X, the Bank charges commission from Co. X. This is a Pvt. Bank. Is TDS required to be deducted u/s 194H ?
I Think, Yes
I too think that TDS should be deducted. There is no specific exemption in the IT ACT regarding these payment.
AGREEE WITH ABOVE
Yes the company shall deduct TDS provided such commission does not exceed Rs 2500.
thank u all for ur replies..
CAclubindia
