commission paid by MF broker to sub-agent, 194H not apply

The Hon’ble Allahabad HC in a decision dated 13.03.2014 has held that on reading of provision of sec 194H, the Mutual fund broker is not required to deduct TDS on payment to sub-agent as section excludes TDS on commission paid for securities. Interestingly the broker was a firm of Chartered Accountants.

To read complete text of judgement, click here Commission paid to sub-agent of person dealing in securities-not covered u-s 194H