TDS Applicability on Swapping Machine Charges

This query is : Resolved

SUDHEEP M (Querist)
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07 May 2022 Sir,

I was using Swapping Machine for promoting online purchases and that is too from HDFC Bank Limited. Based on the amount swapped by the customer, bank was collecting certain charges and monthly consolidated invoices was issued by the bank against the charges collected. In that invoices they are mentioning as "financial services" under SAC code "997158". I want to know whether the services was liable for TDS and if yes under which section [these transactions were exceeding bill wise and yearly exemption limit].

SUDHEEP M

SUDHEEP M (Querist)
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09 May 2022 Sir, I was using Swapping Machine for promoting online purchases and that is too from HDFC Bank Limited. Based on the amount swapped by the customer, bank was collecting certain charges and monthly consolidated invoices was issued by the bank against the charges collected. In that invoices they are mentioning as "financial services" under SAC code "997158". I want to know whether the services was liable for TDS and if yes under which section [these transactions were exceeding bill wise and yearly exemption limit].

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