TDS applicability on Transaction fee charged for bill discounting through TReDS
This query is : Resolved
Quick Summary
08 September 2023
Hi,
Whether TDS require to be deducted against transaction fee cost charged by the MSME digital invoice discounting platform such as RXIL, Invoicemart etc?
Whether TDS require to be deducted against transaction fee cost charged by the MSME digital invoice discounting platform such as RXIL, Invoicemart etc?
CA R SEETHARAMAN
(Expert)
08 September 2023
The discounting charges paid by the assessee are not akin to interest on finance expenses. Therefore, no disallowance on account of non-deduction of TDS u/s. 194A r.w.s. 40(a)(ia) of the Act can be made.
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