23 September 2022
Dear Sir, We have a portfolio account(PMS) with a brokerage firm. They are charging in our account as Management Fees and Fund Accountant Fees on monthly basis. My query is that the TDS applicable on Management Fees or not?. Brokerage firm had earlier informed me that TDS is not applicable on management fee. The brokerage firm informed that TDS is being paid from our account team instead of the final investor. But now our auditor says that we should deduct TDS on management fees. Please advise me in this regard.