Dear Sir,
I run the proprietory business.I have to pay commission to the broker as brokerage do i need to cut / deduct the TDS.The total brokrage to be paid to is less then 15 thousand.Is there any option to skip the Tax Deduction at source.also what is the applicability in the above scenario
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TDS Applicability
Replies (5)
No deduction shall be made u/s 194H (Brokerage) in a case where the amount or the aggregate amounts of such income to be credited or paid during the financial year does not exceed INR 15,000.
@ Rahul Sir does the same rule follow for the salary paid scenario
If the salary paid exceeds the taxable limit (Rs. 250,000 p.a.) for the individual, then you have to deduct TDS.
If you were not covered under 44AB in previous year then you need not deduct tax else yes, you must to deduct tax at prescribed rates.
No need to deduct TDS if it's not exceeding BCL...
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