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Tax-ability on payment of money award sponsoring

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(Querist)
07 November 2016 Our company is going to sponsor for cash money award by giving association. The amount shall be around Rs.30,000/- lakh. Please let me know TDS applicability. The award function is organised by an association of manufacturers of particular industry we belong to.
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Amol S Joglekar

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Amol S Joglekar (Expert)
07 November 2016 You deduct TDS u/s 194C for the contract entered between your company and the association.

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