TDS Applicability on Gold Scheme
This query is : Resolved
11 November 2022
Sir,
I am a retail trader and during the course of my trading activity and based on the volume of trade I have received gold coins as an incentives to the salesman from the suppler. They have billed at 3% GST. I have accounted the same as sales promotion expense and accounted without availing ITC. Sir, I want to know the TDS applicability in respect of the above transaction. Whether applicable TDS under section 194C or 194Q or 194R.
I am a retail trader and during the course of my trading activity and based on the volume of trade I have received gold coins as an incentives to the salesman from the suppler. They have billed at 3% GST. I have accounted the same as sales promotion expense and accounted without availing ITC. Sir, I want to know the TDS applicability in respect of the above transaction. Whether applicable TDS under section 194C or 194Q or 194R.
11 November 2022
Sec. 194R of IT act...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Price inclusive or exclusive of GST while made entry in P& L Account
- Tds on commission charges
- Applicability of GST on Salary Reimbursement Component
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Minimum tax payable to file Updated return
- Dep. as per companies act
- Renovation exp. in flat by family member
- Tax rate change regarding
- Need Professional Opinion AY 2012-13 Old Demand
- Withdrawal in cash from partners capital account by partner
- TDS Challan - change of FY 2025-26 to TY 2026-27
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
Featured
12 September 2026
Assistant Manager - Finance & Compliance
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Featured
11 September 2026
Audit Executive
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER
Anupam Parashar & Co.
Ghaziabad
CA Final
View Details
CCI
Pro
CAclubindia
