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TDS on brokerage, Income Tax

Issue Id: - 2325
Dated: 28-10-2010
By:- gulab singh

TDS on brokerage

Contents

I got brokerage after TDS. I have to distribute this brokerage to sub Brokers. Is there is TDS applicable?

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Showing Replies 1 to 1 of 1 Records

Page: 1

1 Dated: 2-11-2010
By:- Rama Krishana

You are getting brokerage and making payment of brokerage to sub brokers are independent transactions to be seen independently. Therefore, if you are otherwise liable to TDS, there is no relaxation in the provisions that where you have received brokerage after tds there is no requirement of deducting tds from sub-brokers. In other words, you should deduct TDS.

Page: 1