The seven payments received by banks for seven specified services are exempt from TDS obligation.
1.Bank guarantee commission
2.Cash management service charges
3.Depository charges on maintenance of demat accounts
4.Charges for warehousing of commodities
5.Underwriting service charges
6.Clearing charges
7.credit card or debit card commission for transactions between the merchant and acquirer bank
Click here to download full Budget 2012-13 speech by Finance Minister Mr. Pranab Mukherjee
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Board Resolutions are very important in corporate law. Click here to download sample Board Resolution Format as per Companies Act 1956
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