Should Tds be deducted on payment made to share broker?
This query is : Resolved
Harminder Singh
(Querist)
25 February 2010
My client is covered under tax audit, His turnover is more than 40 Lacs through Futures & options in shares, now i want to know should we deduct tds on payment made to our sharebroker U/s 194C? And is there any requirement to apply for a Tan no., for an individual covered under tax audit?
Aditya Maheshwari
(Expert)
27 February 2010
On wat payment will you deduct TDS u/s 194C to the sharebroker. You only pay brokerage to the shareholder which is exempted from TDS u/s 194H. So no need to deduct TDS on brokerage.
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