TDS on NCDEX / NBOT brokerage
This query is : Resolved
CA Robin Betala
(Querist)
27 February 2010
My question here is whether TDS liability arise on Brokerage paid for NCDEX trading and NBOT trading under Sec 194 H , as it exempt brokerage On securities ?
Aditya Maheshwari
(Expert)
27 February 2010
TDS liable as commodities trading not included in the defination of securities as per Section 194H
CA Robin Betala
(Querist)
02 March 2010
But I havent seen any broker whoes TDS deducted on NCDEX trading.
Are client following wrong income tax procedure?
Are client following wrong income tax procedure?
Kishanlal Paliwal
(Expert)
03 March 2010
Brokerage for the transaction in NCDEX and NBOT are liablie to TDS considering the same as income under the head "Brokerage and Commission".
The trading activities in NCDEX/NBOT are covered under the head "Income from Business".
The provissions of Income Tax are applicable accordingly.
The trading activities in NCDEX/NBOT are covered under the head "Income from Business".
The provissions of Income Tax are applicable accordingly.
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