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Querist : Anonymous

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Querist : Anonymous (Querist)
17 December 2011 our 20 clients wins following rewards for achieving sale target

1) Colour Tv
2) Foreign Tour

we are paying directly to company from whom we purchase tv / ticket.i need following clarifications

1) Is it to be treated as commission
2) Is TDS applicable. if yes , let tv cost rs 6000/- that amount i paid to company from whom i purchased tv ,then how i will pass a entry.is it to be grossed up.
3) Under which head i need to book expense
4) can i treat and book above as gift
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
12 May 2012 It is better to show the above as gifts.
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