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

TDS on brokerage: whether retail investors must deduct tax at source when paying stock brokers. Whether TDS must be deducted by a retail investor when paying brokerage to a stock broker is the central query: a retired investor who pays the billed brokerage on receipt of contract notes asks if payments should be made after deducting tax at source and whether the investor must remit that TDS, citing concern about onerous procedures for retail investors.