TDS

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Querist : Anonymous

Querist : Anonymous (Querist)

21 October 2010 Is TDS applicable on annual fees paid to foreign bank on sale of travellers cheques.

CA.Mini

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

Querist : Anonymous

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.

CA.Mini

CA.Mini (Expert)
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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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