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TDS applicabilty on gift to customer

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 May 2010 we, PVT Ltd co has given a gift (TV) to customer as apert of business promotion,Pklease let me know the applicabilty of TDS and which head this exp should be shown
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
25 May 2010 It does not appear to fall under tds net.
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madhav

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madhav (Expert)
25 May 2010 you company gave a gift(TV) to ur client as a part of business promotion......
it is a business promotional expenditure and no need to deduct Tds on this payment but ur company has to pay Frienge benefit tax on this payment......i think it is better, Once u reed the FBT provisions......
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
25 May 2010 FBT abolished wef 01.04.09
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Querist : Anonymous

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Querist : Anonymous (Querist)
27 May 2010 Thank you all for the kind updations
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