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Querist : Anonymous

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Querist : Anonymous (Querist)
21 October 2010 Is TDS applicable on annual fees paid to foreign bank on sale of travellers cheques.
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CA.Mini

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CA.Mini (Expert)
21 October 2010 purchase and sale of travellers cheques,bl etc.is usual trading does not fall in purview of tds.
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Querist : Anonymous

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Querist : Anonymous (Querist)
22 October 2010 Thats true, but in this case, the annual fees is payable by the travel agent to the bank for selling that bank's travellers cheques.



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CA.Mini

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CA.Mini (Expert)
24 October 2010 it means commission is paid by the travel agent to the bank.it attracts tds.though foreign bank but accrued in india hence tds deductible.

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