Tds deduction on exchange fee
This query is : Resolved
11 February 2015
Dear Friends,
Company is in trading of Renewable Energy Certificate (REC) on the Energy Stock Exchange (IEX). When they sell the REC's to other party. They charge let say Rs. 100 on the sales value of Rs. 10,000 REC's.
Now the matter is they pay us Rs. 9,900 and deduct their service charges from the sale value.
I want to know about TDS implication on the same.
Company is in trading of Renewable Energy Certificate (REC) on the Energy Stock Exchange (IEX). When they sell the REC's to other party. They charge let say Rs. 100 on the sales value of Rs. 10,000 REC's.
Now the matter is they pay us Rs. 9,900 and deduct their service charges from the sale value.
I want to know about TDS implication on the same.
11 February 2015
No. TDS not applicable in the given case.
11 February 2015
Can you provide any explanation and or case or any reference for the same?
11 February 2015
This is a unique case. No section attracted for deducted on TDS. You can not apply 194J as this neither technical of professional fee. No other section seems to be applicable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- LIC maturity claim whether taxable
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TDS AND ITR ISSUE
- GST Rate for Catering Services
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
