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TDS Applicability for Annual Custody Fees paid to NSDL

TDS / TCS 9835 views 3 replies
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Student CA IPC / IPCC
35 Points Posted on 20 May 2021

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
Replies (3)
Quick Summary
TDS is not applicable on annual custody fees paid to NSDL or CDSL as per judicial rulings. Such services are considered automated and not technical services requiring TDS deduction.

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Chartered Accountant
24588 Points Posted on 20 May 2021
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 Posted on 20 May 2021
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 Posted on 20 May 2021
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.
1 Reply
On 20 May 2021 at 11:45


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