Tds on various payment made to nse/bse
This query is : Resolved
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?
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
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
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Putting a heading on received mail
- TDS on TRUST
- Reprocessing of rectification order AY 2025-26
- Section 50-fixed asset-->building ceases to exist
- Consolidated financials
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
