Tds deduction

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(Querist)
18 November 2014 Are Mutual Funds( Asset Management Company) liable to deduct TDS on Brokerage paid to buy or sell shares?
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Amol S Joglekar

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Amol S Joglekar (Expert)
18 November 2014 Yes. The brokerage paid is a subject matter of TDS u/s 194H
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CA Konfused

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CA Konfused (Querist)
18 November 2014 Hey can you confirm as many of our clients are asset management companies or life insurance companies and they do not dedcut TDS , so is there any specifice exemption for these companies.
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Amol S Joglekar

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Amol S Joglekar (Expert)
18 November 2014 LIC of India also deducts TDS u/s 194H.
No TDS is required to be done if the amount of the brokerage does not exceed Rs.5,000
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Rupesh Jain

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Rupesh Jain (Expert)
18 November 2014 tds is compulsory deducted by the company/payer if your brokerage/ commission limit is above rs. 5000/- in a year.
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Amol S Joglekar

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Amol S Joglekar (Expert)
18 November 2014 No any specific exemption is granted to Asset Management Companies.
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CA Konfused

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CA Konfused (Querist)
18 November 2014 In our case clients are not deducting TDS and hence the confusion.Anyways thanks for the answers.
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Amol S Joglekar

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Amol S Joglekar (Expert)
18 November 2014 You are welcome.
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