Please Help: TDS om Reimbursement
Posted Date : 01-Jun-2013 , 11:23:16 am | Posted By Gaurav Dhamija
A company (Let ABC Ltd.) take limits against stock from bank, bank will conduct stock audit for the same. And bank paid amount to CA for conducting stock audit and then later on deducted the same amount from ABC Ltd.’s CC a/c with that bank.
Now my querries would be, by whom TDS would be deducted on this professional services?? By Bank or By ABC Ltd.??
Now my querries would be, by whom TDS would be deducted on this professional services?? By Bank or By ABC Ltd.??
Category : Income Tax | Answers : 2 | Comments : 5 | Hits : 114
Answers
Answer By: Vikash Kumar Jha
By bank
Answer By: Vikash Kumar Jha
Stock auditor has been appointed by bank for their own purpose that why its will be the obligation to pay this fees lies with bank not company. That why TDS should be deducted by bank.
Comments
Gaurav Dhamija
03-Jun-2013 , 12:51:02 pmNo body there to answer my querry??
Gaurav Dhamija
07-Jun-2013 , 10:02:00 amBUt TDS is deducted by person who claim expense....bank will not claim that expense....then how bank will deduct?
Nikhil
07-Jun-2013 , 01:55:23 pmObviously By bank...company does not have any obligation to deduct tds in this case.
Nikhil
07-Jun-2013 , 01:59:18 pmGaurav...Remember,company has not paid anything to CA. Company has paid amount to BANK. Any payment made to BAnk does not Attract TDS
Vikash Kumar Jha
07-Jun-2013 , 07:15:07 pmCompany paid this amount only because there will be an agreement with bank.