TDS on brokerage to stock brokers.

[Jamshed Mehta]

I am a retired senior citizen. I have savings in different assets and therefore am an investor in shares.

The stock broker gives a contract note and shows the brokerage charges.

I pay the full amount to the stock broker.

Recently, I was casually told by a third person that brokerage should be paid after deducting TDS and the TDS has to be paid by me.

I would appreciate an advice on the correct position as all retail investors like me would be seiously affected by onerous procedures.

Thanking you.

Jamshed F. Mehta, Mumbai

9819847557.

AI Summary

Retired investor seeks advice on TDS deduction for brokerage fees to ensure compliance with tax rules. A retired senior citizen and investor in shares is seeking advice on the correct procedure for handling Tax Deducted at Source (TDS) on brokerage fees paid to stock brokers. They were informed by a third party that TDS should be deducted from brokerage fees and paid by the investor. The individual is concerned about the potential impact of these procedures on retail investors and requests guidance to ensure compliance with tax regulations.