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Is TDS applicable on demat charges?

by Rhyley Bryan

Is TDS applicable on demat charges?

Fees paid to NSDL/CDSL are not subject to TDS: ITAT Hyderabad [Read Order] The ITAT, Hyderabad bench, recently allowed deduction in respect of the amount of fee paid to NSDL/CDSL charges by holding that such charges are not subject to TDS under section 194J of the Income Tax Act, 1961.

What is the TDS rate for service charges?

Any payment covered under this section shall be subject to TDS at the rate of 10%. From 1 April 2020, the payment of fees for technical service shall be subject to TDS at the rate of 2%. With effect from 01.04

Is TDS applicable on Tata Teleservices?

“According to court judgements, discounts are subject to TDS as commission at the rate of 10%. “In case of Tata Teleservices, the company has not deducted TDS on commissions of about ₹ 700 crore paid to distributors for selling prepaid SIM cards and recharge vouchers,” one of the I-T officials said.

What is current TDS rate?

TDS rates applicable for resident of India

TDS Rate (%) TDS Rates from 01.04

Is the TDs rate the same as the TCS rate?

The rate of TDS will be twice at the rates specified and at 5%. 6 April 2021 Tax rates reduction extended for COVID-19 relief to taxpayers The rates for TDS and TCS have been reduced by 25% on the basis of the existing rates specified by the authority to help taxpayers in this difficult time of the pandemic.

What are TDs rates for foreign institutional investors?

Section 196D: Income of foreign institutional investors from securities (this income does not include the capital gain or dividend which arises from these securities) TDS Rate Chart for FY 2020-2021 for a domestic company:

When does the TDs rate change in India?

The TDS rates will change automatically as per your selections relating to status of the payee, submission of valid PAN as per Section 206AA and Filing of Income Tax return by the payee for past 3 years as per Section 206AB. Payment of accumulated balance of provident fund which is taxable in the hands of an employee.

What does TDs out of ( 5 ) claimed this year mean?

At the outset, it is pertinent to understand the concept of TDS before we move to ITR to understand what does the column “TDS credit out of (5) claimed this year [Col (6)]” mean to enable a taxpayer to fill the column correctly. TDS means Tax Deducted at Source.