Tax Applicability on Sales Promotion
This query is : Resolved
23 October 2021
Sir,
I want to know the tax implication on a Company or LLP which was given a Car free of cost to a customer in connection with a sales promotion campaign.
I want to know the tax implication on a Company or LLP which was given a Car free of cost to a customer in connection with a sales promotion campaign.
23 October 2021
Is it company car or rented one?
23 October 2021
Car was given as a gift to the customer. Car was purchased in the name of the customer, but payment was given by the company / LLP.
23 October 2021
The cost of car can be debited to sales promotion expense. No additional tax liability.
But TDS has to be collected from the customer at 30% +cess.
But TDS has to be collected from the customer at 30% +cess.
23 October 2021
Sir kindly clarify in which section TDS should be Collected and Paid
23 October 2021
Sec. 194B of IT act...
23 October 2021
My Pleasure ...
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