Dear Sirs,
Our company is going to sponsor for an award giving function. The amount shall be around1 lakh. Please let me know TDS applicability. The award function is organised by an association of manufacturers of particular industry we belong to.
Srikanth (Manager - Accounts) (74 Points)
14 September 2011Dear Sirs,
Our company is going to sponsor for an award giving function. The amount shall be around1 lakh. Please let me know TDS applicability. The award function is organised by an association of manufacturers of particular industry we belong to.
pahuja
(C.A Final Student )
(472 Points)
Replied 14 September 2011
Hi Srikant
In the case of sponsorship for debates, seminars and other functions held in colleges, schools and associations with a view to earn publicity through display of banners, etc., put up by the organisers, the agreement of sponsorship is in essence an agree ment for carrying out a work of advertisement. Therefore, provi sions of section 194C will apply.
in your case tds section 194c attracts and deduct the same accordingaly referring the detailed provision.
Thanks and Regards
Suraj Pahuja
Srikanth
(Manager - Accounts)
(74 Points)
Replied 14 September 2011
Thank you very much Mr. Suraj Pahuja.
CAclubindia
