Tds on annual custodial fee paid to nsdl, csdl and bse

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Asad Quadri (Querist)
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18 April 2013 Whether TDS should be deducted on annual custodial fees paid toNSDL, CSDL and BSE of Rs. 40,000/- each. Please give reference if any and section.

Silpa Agarwal

Silpa Agarwal (Expert)
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18 April 2013 It was held in the case law Kotak Securities Ltd.v.Addl CIT (2009)25(II)ITCL 385 (Mum 'A'-Tribunal) that transactions fees paid to stock exchanges are not liable to TDS u/s 194J. Considering the above No TDS is payable in respect of above transaction.

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