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BROKERAGE ON TDS

This query is : Resolved 
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(Querist)
02 March 2022 HI
EXAMPLE:-
WE SALES THE PLOT OF LAND
WE PAID RS. 100000/- BROKERAGE AMT THEN TDS IS DEDUCTED OR NOT
IT INDIVIDUAL ACCOUNT
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
03 March 2022 Generally no need to deduct tax. But, if you have business/profession and the turnover in last year is more the Rs. 1,00,00,000/ Rs.50,000, then income tax has to be deducted u/s 194H.
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CA Puja Sharma

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CA Puja Sharma (Expert)
03 March 2022 Ye, if you are an Income Tax assessee as an individual or a HUF then TDS deduction on brokerage is only required if your boos of accounts were audited in the previous FY.
Further, in all other cases deduct TDS @5% on brokerage
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