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TDS on Brokerage

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 June 2010 Hi,

If I am paying Rs.18000/- towards brokerage to Individual, will I dedcut TDS @ 10%?
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CA Ravi Kumar Murugesh

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CA Ravi Kumar Murugesh (Expert)
02 June 2010 Person responsible for paying to a resident, any income by way of commission or brokerage shall deduct tax at source there from.
If that individual does not have PAN, the rate will be 20% not 10%.
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Querist : Anonymous

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Querist : Anonymous (Querist)
02 June 2010 What is the threshold limit?
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
02 June 2010 Upto 30.06.10 : Rs. 2.50 K
wef 01.07.10 : Rs. 5.00 K
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CA CHINTAN AJMERA

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CA CHINTAN AJMERA (Expert)
02 June 2010 if you paid commision above rs 5000, you have to deduct tds at 10%.
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