Applicability of TDS for legal review by Banks

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..... Applicability of TDS for legal review by Banks
Query (Issue) Started By: - Parag Shah Dated:- 7-4-2013 Last Reply Date:- 11-4-2013 Income Tax
Got 1 Reply
Income Tax
Dear Members, I reque .....

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..... st opinion of the members on the following issue: There are several applicants who have applied for loan. * The Bank has appointed a legal firm / Advocate to advise on the validity of documents pre .....

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..... - & post sanction. * The Advocate raises the invoice on the Bank- A/c Applicant. * The fees payable to advocate is debited tot the account of the Applicant & thereinafter the fees have been to the .....

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..... advocate /firm. * The Bank states it is reimbursement / paid on behalf of the applicant & accordingly the TDS is not applicable, neither it routed through the profit / loss account. * Kindly advi .....

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..... se on the above at my email id [email protected] Thanks & Regards// Parag Shah +91 9869788636 Reply By CA GOPALJI AGRAWAL: The Reply: since bank is liable to pay to the lawyer hence it would l .....

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..... iable to deduct tax at source. It has no relevance that the payment is not debited in P/L.
Discussion Forum - Knowledge Sharing .....

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