Should TDS be deducted on payment for E-magazine subscription?
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It was raised in CIT Vs. India Capital Markets by the revenue that TDS should be deducted on E-magazine subscription and on such failure there should be disallowance under section 40(a)(ia). It was raised by revenue that such subscription was in the nature of consultative nature.
However, the said contention was not admitted and it was held that no specific queries raised by the company were being answered by the magazine publisher and thus it does not result in consultative/professional services being provided to the company. Also, such information is available to all the subscribers of the E-magazine.
Thus TDS Should not be deducted on payment for an E-magazine subscription under section 194J.
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