Admission Fee Paid to MCX

[KIRTI TULSYAN]

is tds on Admission Fee Paid to MCX Stock Exchage Ltd applicable 




Thanks & Regards 

Pramod Sharma 
Composite Securities Ltd, 
307 Kanchenjunga Building, 
18, Barakhamba Road, 
New Delhi - 110 001 
Mob. No. 9311977723 
Ph No. 011- 43739600 (Ext . 29) 
Fax No. 43739666 

--

Best Regards, 
Kirti Tulsyan
B.Com.,ACA,CS


P.D.Rungta & Co. 
Chartered Accountants 

Board : +91 33 3028 2500 / 1
Direct Line : +91 33 3028 2502/3                                       
Cell : +91 9830174619

email:  caktu...@gmail.com

Head Office:
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Kolkata-700 001,West Bengal, India

Branches :                                                  
Bhagalpur | Raipur | Khatima | Godda

Homepage : http://www.pdrungta.co.in/

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[KIRTI TULSYAN]

 is tds on Admission Fee Paid to MCX Stock Exchage Ltd applicable 

Thanks & Regards 
 
Pramod Sharma 
Composite Securities Ltd, 
307 Kanchenjunga Building, 
18, Barakhamba Road, 
New Delhi - 110 001 
Mob. No. 9311977723 
Ph No. 011- 43739600 (Ext . 29) 
Fax No. 43739666 

REPLY 1

Dear Sir, 

TDS is deductible u/s 194J on payments made to any stock exchange 
(MCX/NSE/BSE) for any payment made like: Membership Fees, Transaction 
Charges etc. 

Hope this resolves your query. 

Thanks & Regards, 

*CA. SAWAN KUMAR* 

REPLY 2

To my mind Tds will not lie on admission fees.However through its decision in CIT vs Kotak Securities (203 Taxman86)the Bombay HC has reversed the earlier decisions and held that transaction charges paid by assessee broker to BSE in respect of transactions carried out through BOLT system will be subject to TDS u/s 194J.hence to play it safe it may be advisable to deduct tax. 
regards 
kalidas