Applicabilty of service tax on giving Rs.1Lakh as a sponsor
This query is : Resolved
Dr. Devendra Kachru
(Querist)
23 February 2009
Being a proprietorship firm , we are to pay Rs.1 lakh as a contribution to a medical seminar/ held last year .
Is there any need to deduct any form of tax ( service tax /income tax etc, ) prior to paying to the organisers. The conference has no regstartion under any tax authority. I am told that some companies have deducted a part of the committed funds and depositedwith Govt .
Please eductae me.
Is there any need to deduct any form of tax ( service tax /income tax etc, ) prior to paying to the organisers. The conference has no regstartion under any tax authority. I am told that some companies have deducted a part of the committed funds and depositedwith Govt .
Please eductae me.
CA Nitin Wadhwani
(Expert)
23 February 2009
TDS Provisions are applicable to a proprietorship if its liable for tax audit in the preceding year.
so if the indivual (proprietor) was liable for tax audit in the previous year, tax deduction is mandatory under 194-C(Contract).
so if the indivual (proprietor) was liable for tax audit in the previous year, tax deduction is mandatory under 194-C(Contract).
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