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TDS Applicability for Annual Custody Fees paid to NSDL

TDS 9559 views 3 replies
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Student CA IPC / IPCC
35 Points Joined November 2012

Dear Sir/Madam,

Kindly confirm me the TDS applicability for Annual Custody Fees paid to NSDL.

If yes please confirm me the Rate of TDS to be deducted.

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On 20 May 2021 at 10:45 Report
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Chartered Accountant
24588 Points Joined November 2019
TDS is not applicable in this case
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On 20 May 2021 at 11:12
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Learner
2398 Points Joined May 2019
As per ITAT Hyderabad verdict Fees paid to NSDL/CDSL are not subject to TDS. hence you no need to deduct TDS while paying fee. and expense will be allowed completely.
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On 20 May 2021 at 11:12
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tax consultant
3306 Points Joined October 2018
It would have been a fee for technical service. but judicial verdicts have given that such passive, non-human services cannot be treated as technical service. hence it will not attract tds under any section.
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On 20 May 2021 at 11:45

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