Tds on various payment made to nse/bse
This query is : Resolved
Vikas Jain
(Querist)
24 January 2012
Q1. XYZ Pvt. Ltd. is a stock Broker, dealing with NSE/BSE and pay penalty to NSE/BSE for cross the limit allowed by NSE/BSE, whether this penalty payment to NSE/BSE is liable to TDS deduction?
Q2. Whether TDS is Payable on Transaction Charges paid to NSE/BSE.
Q3. Whether a stock broker can recover excess transaction charges from client, than he is liable to pay to NSE/BSE?
Q2. Whether TDS is Payable on Transaction Charges paid to NSE/BSE.
Q3. Whether a stock broker can recover excess transaction charges from client, than he is liable to pay to NSE/BSE?
CA PARAS BAFNA
(Expert)
24 January 2012
Q.1.
TDS is leviable U/s 194J as the penalties are resulting from the managerial activity of the stock exchanges.
Q.2 .
TDS U/s 194J is deductible.
Mumbai High Court has settled this issue in the case of CIT V Kotak Securities Ltd recently on 21.10.2011.
Q.3.
Stock Brokers has to abide by the exchange rules and regulations for Brokers. Pl. go through these. In my view he can not do so. He can charge under the head brokerage, only.
TDS is leviable U/s 194J as the penalties are resulting from the managerial activity of the stock exchanges.
Q.2 .
TDS U/s 194J is deductible.
Mumbai High Court has settled this issue in the case of CIT V Kotak Securities Ltd recently on 21.10.2011.
Q.3.
Stock Brokers has to abide by the exchange rules and regulations for Brokers. Pl. go through these. In my view he can not do so. He can charge under the head brokerage, only.
Message likes :
1 times
Vikas Jain
(Querist)
25 January 2012
Thanks Sir.
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
- GST on reimbursement of expenses
- Query on effect of registration of property
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Equity Share Sale and Purchase
- Additional trade name
- Number of years as per AS amortisation of Goodwill
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
