TDS on commission
This query is : Resolved
10 December 2010
A public ltd co. with a turnover of 300cr pays commission charges to a bank for opening letter of credit L/C which amounts to around rs 3,00,000 during the year.
Is Tds required to be deducted on such commission, if yes at what rate.
Also can it be clubbed under General Expense.
Is Tds required to be deducted on such commission, if yes at what rate.
Also can it be clubbed under General Expense.
11 December 2010
As per my opinion TDS should be deducted. However opinion of other experts should be taken.
16 December 2010
TDS is not applicable on bank charges.
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