Tds on processing fees paid to american express credit card
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
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.
29 January 2016
For processing Fees I dont think so you have to deduct TDS.my opinion you need not deduct tds
Message likes :
1 times
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.
IN THE ABSENCE OF ANY VISIBLE CONTRACT, YOU CAN'T DEDUCT TDS ON PAYMENT TO AMEX.
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
- ITDS U/S.194T of Firm
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- Cash balance limit and property purchases limit
- Can we choose not to report losses in ITR3 if they cannot be carried forward?
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Non-Compliance documents have not been submitted by the contractors debited
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
