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TDS on Mutual Fund

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(Querist)
20 October 2007 no Deduct Income TAx TDS on Mutual Fund brocker commission ? but service tax is deducted.what is the reasons
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M Janak Rao

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M Janak Rao (Querist)
20 October 2007 Kindly Reply me
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S.RAVICHANDRAN

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S.RAVICHANDRAN (Expert)
20 October 2007 Service Tax Act and Income Tax Act is different subjects altogether. If the Service Tax Tariff requires Tax to be paid on that service , then it is payable.
If the Income Tax Act requires a payment to be deducted TDS then, it is liable.

Broker commission is liable for TDS under section 194 H if the commission exceeds Rs.2500/-.
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