TDS limit and applicability
This query is : Resolved
11 January 2024
Dear Sir,
I am working private limited company and our company is trader work, hence for business running purposes our owner issue gift like watch, ornament ect. and our legal adviser suggested expenses book under sales & marketing expenses,
please guide us if we booked under sale & marketing "TDS will not applicable or not" yes kindly suggest %.
I am working private limited company and our company is trader work, hence for business running purposes our owner issue gift like watch, ornament ect. and our legal adviser suggested expenses book under sales & marketing expenses,
please guide us if we booked under sale & marketing "TDS will not applicable or not" yes kindly suggest %.
14 January 2024
As per Section 194R, Businesses or professionals should deduct TDS @10% if the monetary value of such gift or perquisites exceeds INR 20,000 during the financial year of each recipient.
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