Tds on brokerage payment ot sub-brokers

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deepak (Querist)

05 January 2013 Hello all.

Happy New year 2013.....

My query is that whether TDS will be deducted on brokerage payment to Sub-brokers? Sec.194H excludes securities out of tax deduction.

Please any one explain with logic/provision of tax deduction, if applicable.

Amol S Joglekar

Amol S Joglekar (Expert)

05 January 2013 It will go under 194J at 10%. Act starts where LOGIC ends.

CA Prashant Gupta

CA Prashant Gupta (Expert)

05 January 2013 Dear Deepak
can you please send me any circular/leagal case or any other which says 194H excludes securities.
as per my knowledge brokerage is dealth by 194 H.

Amol S Joglekar

Amol S Joglekar (Expert)

06 January 2013 Explanation.—For the purposes of this section,—
(i) "commission or brokerage" includes any payment received or receivable, directly or indirectly, by a person acting on behalf of another person for services rendered (not being professional services) or for any services in the course of buying or selling of goods or in relation to any transaction relating to any asset, valuable article or thing, not being securities;

deepak

deepak (Querist)

07 January 2013 Thanks to all.

I need more detailed reply, if any.
Please submit reply on priority basis as it is something urgent.

Thanks & regards,
CA Deepak Aggarwal

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