what will be the provisions of tds application on gifts/awards given to contractors for safety reasons.
is there will be different treatment for gift in cash or kind
J. K. Ratan
(Compliance Advisor)
(794 Points)
Replied 24 February 2015
Dear Sagar
Gift /Reward paid for any person other than relatives will be treated as commission under section 194H.
If total value of gift/reward is more than 5000 than will have to deduct TDS @ 10% on any amount paid or credited in beneficiaries account.
J. K. Ratan
(Compliance Advisor)
(794 Points)
Replied 24 February 2015
You Most Wellcome.............
CAclubindia
