Bank guarantee commission not liable to TDS u/s 194H

DCIT Vs Jaypee Sports International Ltd. (ITAT Delhi) Conclusion: TDS u/s 194H was not applicable to bank guarantee commission as the same did not fall into clause (i) of Explanation to section 194H and exemption was provided under section 194A(2)(iiia) in respect of any payment made to any banking company to which any Banking Regulation applies. Held: Bank guarantee commission could not be subjected to TDS under section 194H as the same did not fall into clause (i) of Explanation to section 194H and also assessee in present case was not acting as an agent but on principal-to-principal basis. ...