sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Direct Tax »
 GST Council meet: Realtors get two options to tax under construction house
 Relief for start-ups with tax notice
 CBDT gives 90 startups immunity from Angel Tax
 Which form should salaried individual and pensioner file? Find out Income Tax Return (ITR) filing
 Net direct tax collection crosses ?10 lakh crore mark
 CBDT Widens Tax Dragnet on Notional Income through Section 56(2), but Loopholes Remain
 No respite from Angel Tax despite DPIIT notification
 Filing income tax returns before March 31 deadline? 5 TIPS to avoid last-minute calculation MISTAKES
 You may not be able to claim Income Tax refund, file ITR! Do this in the next 14 daysa
 How and when TDS deductions can be avoided
 Income Tax Department unearths huge violations in TDS deduction

CBDT grants TDS exemption on payments towards financial services provided by banks
January, 05th 2013

The Central Board of Direct Taxes (CBDT) has granted individuals, firms and corporates using financial services offered by banks from tax deduction at source (TDS) on the payments of certain categories, in order to mitigate compliance burden on businesses.

Payment towards bank guarantee commission, cash management service charges, depository charges on maintenance of demat accounts, charges for warehousing services for commodities and underwriting service charges made to the banks can be made without TDS with effect from 1 January 2013, CBDT said in a notification issued today.

The notification also facilitates payment without TDS of credit/debit card commission on transaction between the merchant establishment and acquirer banks. This will also positively impact the use of plastic money in the economy, the notification said.

CBDT said the notification would obviate the uncertainties about the applicability of specific TDS provisions on the payments mentioned above and consequent litigation.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions