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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TDS Applicability for Annual Custody Fees paid to NSDL
Replies (3)
TDS is not applicable in this case
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.
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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