Tds on commissions
This query is : Resolved
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
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
29 March 2014
No d sam wouldnt b deductd as submitng 15g certifies that u plgd dat ur incme is below slab incm
29 March 2014
No d sam woudnt b deductd as submitng 15gcertifies that u plgd dat ur incme is below slab incm
29 March 2014
Kindly please confirm the provision or section or valid reason that tds will not be deduct.
regards
regards
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
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
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Supply through E-commerce Operators
- Sales return eway bill
- Rent lease agreement
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- E way bill for tractors
- SGST balance is there in credit ledger how to adjust for cgst
- Loan by Partnership Firm
- Tax liability on income of freelancer
- REGARDING SECTION 44AE
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
