Is TDS required to be deducted on cash back? e.g. credit card companies offer 5% cash back of the spend amount. Whether cash back will be treated as income of the customer and whether the card company should deduct TDS? If yes, under which section of the IT Act?
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Tds on cash back
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TDS cant be deducted becoz TDS is deducted on salary/payment to contractor/commision/ Brokergae/ etc. In any of the TDS payment sections above cash back payment is not covered hence no TDS be deducted
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