TDS on Mutual Fund
This query is : Resolved
M Janak Rao
(Querist)
20 October 2007
no Deduct Income TAx TDS on Mutual Fund brocker commission ? but service tax is deducted.what is the reasons
M Janak Rao
(Querist)
20 October 2007
Kindly Reply me
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/-.
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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