Taxation impact
This query is : Open
20 December 2013
Hi Sir
We are organizing an event,which is non profitable for the company.We are getting sponsorship money for the event from the various Corporate.We are just organizing this event and we are not making any profit for our company.Now my clarification is what will be tax impact while we will raise invoice to the sponsor.
Your clarification on this will be highly appreciated.
Thanks
Sandipon
We are organizing an event,which is non profitable for the company.We are getting sponsorship money for the event from the various Corporate.We are just organizing this event and we are not making any profit for our company.Now my clarification is what will be tax impact while we will raise invoice to the sponsor.
Your clarification on this will be highly appreciated.
Thanks
Sandipon
23 December 2013
it doesnt matter friend. It would still get included in your income. But it doesn't impact the taxation as you should be able to claim the corresponding expenses resulting in nil impact on taxable income.
23 December 2013
Thanks a ton..Can you clarify on the following queries ??
1. Should we need to collect the service tax (12.36%) from the service receiver (Sponsor)?
2.I believe TDS will be 2%, is it correct?
Thanks in advance for your clarification.
1. Should we need to collect the service tax (12.36%) from the service receiver (Sponsor)?
2.I believe TDS will be 2%, is it correct?
Thanks in advance for your clarification.
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