TDS Not Deductible On Trade Discount Allowed By Newspaper Company To INS Accredited Advertising Agent: Calcutta High Court

The Calcutta High Court has held that TDS is not deductible on trade discounts allowed by newspaper companies to Indian Newspaper Society (INS) accredited advertising agents.The bench of Justice T.S. Sivagnanam and Justice Hiranmay Bhattacharyya has observed that the trade discount given by the assessee, engaged in the business of publishing and selling newspapers, to newspaper vendors...