applicability of TDS

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Sharad Jain

Sharad Jain (Querist)
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11 November 2010 IS TDS applicable on amount paid towards Annual subscription & Membership fees? amount rs 25000.00

Aditya Maheshwari

Aditya Maheshwari (Expert)
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11 November 2010 No

Sharad Jain

Sharad Jain (Querist)
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11 November 2010 why soooooooooo

Aditya Maheshwari

Aditya Maheshwari (Expert)
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11 November 2010 it has been decided by the Honourable Mumbai Tribunal in the case of Kotak Securities Ltd. vs. Addl. CIT (2008) 25 SOT 440 (Mum.) that Transaction fees paid to stock exchange can not be said to be a fee paid in consideration of stock exchange rendering any technical services to the assessee. The provisions of section 194J were not attracted, therefore, there was no obligation on the part of the assessee to deduct tax at source consequently, the provisions of section 40(a)(ia) were also not attracted.

taxindiaconnect

taxindiaconnect (Expert)
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11 November 2010 Agreed.

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