29 January 2016
Our company has obtained the facility of credit card from American Express Credit Card. The said company even though has banking license - it is a foreign bank. On the said credit card, the company has given us the channel financing limits and it has charged us processing fees for it. So whether the processing fees paid to them of Rs.30000 is liable for TDS. Pls reply.
30 November 2016
No any TDS will be deducted u/s 194 C for processing fees paid to AMERICAN EXPRESS CREDIT CARD (AMEX CARD) as your company had not handover any contract to AMEX . rather you are bound to pay credit card processing fees. IN THE ABSENCE OF ANY VISIBLE CONTRACT, YOU CAN'T DEDUCT TDS ON PAYMENT TO AMEX.
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