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TDS Applicability for Annual Custody Fees paid to NSDL

Sangavi (Student CA IPC / IPCC) (35 Points)

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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3 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 20 May 2021

TDS is not applicable in this case

Sivaramaraju G (Learner) (2398 Points)
Replied 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.

veerendar singh (tax consultant) (3301 Points)
Replied 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.

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