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Tds

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(Querist)
05 March 2015 whether TDS is applicable for sponsorship services?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
06 March 2015 In the case of sponsorship for debates, seminars and other functions held in colleges, schools and associations with a view to earn publicity through display of banners, etc., put up by the organisers, the agreement of sponsorship is in essence an agree­ment for carrying out a work of advertisement. Therefore, provi­sions of section 194C will apply. [Circular No.715 dt.8-8-1995]
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
06 March 2015 TDS to be deducted if threshold limit is crossed.

Threshold limit:

Single Bill/Payment Rs 30000/-
Annual Total Rs 75000/-

Rate of TDS:

Individual/HUF @1%
Others @ 2%
No PAN @20%.

TDS to be deducted on amount excluding Service Tax.
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