Tds query
This query is : Resolved
05 October 2016
Nationalized bank giving invoice for services (Customers of b bank swipe their debit card in nationalize bank ATM s) to B bank. whether TDS is required to be deducted while bank is paying for services to nationalized bank?
06 October 2016
It may be possible to take a view that no TDS is deductible on these charges because it doesnt fall under any of the TDS Sections.
Ideally to give a proper opinion one would need to examine the agreement between the two banks.
From experience, i assume the Tax Department would want to say that the services are technical fees in nature.
There are certain judgments though which state that if there is no manual interface and everything is automated, no TDS needs to be deducted as there is no rendering of technical services.
Ideally to give a proper opinion one would need to examine the agreement between the two banks.
From experience, i assume the Tax Department would want to say that the services are technical fees in nature.
There are certain judgments though which state that if there is no manual interface and everything is automated, no TDS needs to be deducted as there is no rendering of technical services.
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