Tds on commissions

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rishbah (Querist)
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29 March 2014 query on tds on commission income.:-

If an assesse is senior citizen(female)& she is sub broker of trading member (Equity & commodities market)& her income is non taxable as per limit under income tax rules. she had also submitted the 15H form to the company(trading member). therefore in this case if any brokerage or commission income earned by her threw company, then will company deduct the tds on that brokerage/commission or not & why?

Kindly please resolve the query
Thanks

Rishabh

Akash Barman

Akash Barman (Expert)
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29 March 2014 No d sam wouldnt b deductd as submitng 15g certifies that u plgd dat ur incme is below slab incm

Akash Barman

Akash Barman (Expert)
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29 March 2014 No d sam woudnt b deductd as submitng 15gcertifies that u plgd dat ur incme is below slab incm

rishbah

rishbah (Querist)
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29 March 2014 Kindly please confirm the provision or section or valid reason that tds will not be deduct.

regards

Nikhil Kaushik

Nikhil Kaushik (Expert)
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30 March 2014 have to disagree with Akash/.

Rishabh - Form 15G/H are not applicable to commission income. Please refer Section 197A(IC)

Form 15G/H is applicable for only the following sources of income:

Dividend income from shares

Interest on securities like fixed deposits, bonds

Interest on any loan given to any person

Income in respect of units of mutual fund

Withdrawals from National Savings Scheme

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