TDS on Ad in Magazine.
This query is : Resolved
22 December 2010
dear sir,
we are a pvt. ltd. co.(1) we give ad of our product in magazine (print media). For this, we deduct 2% TDS(94C). Is this OK ? (2) Also we give ad in tv channels. For this also we deduct 2% TDS (94C). Is this OK ?
thanks in advance
anckoora.
we are a pvt. ltd. co.(1) we give ad of our product in magazine (print media). For this, we deduct 2% TDS(94C). Is this OK ? (2) Also we give ad in tv channels. For this also we deduct 2% TDS (94C). Is this OK ?
thanks in advance
anckoora.
22 December 2010
Section Applicable 194C
Rate of TDS:
Individual/HUF @1%
Others 2%
No PAN 20% (U/s 206AA)
Threshold limit:
Single bill
Rs. 20000 till 30.06.2010
Rs. 30000 from 01.07.2010
Annually
Rs. 50000 till 30.06.2010
Rs. 75000 from 01.07.2010
Rate of TDS:
Individual/HUF @1%
Others 2%
No PAN 20% (U/s 206AA)
Threshold limit:
Single bill
Rs. 20000 till 30.06.2010
Rs. 30000 from 01.07.2010
Annually
Rs. 50000 till 30.06.2010
Rs. 75000 from 01.07.2010
22 December 2010
If you are deducting TDS from deductee other than Individual/HUF you are correct in deducting TDS @2%. Other wise the rate will be 1% (i.e. in case deductee is Individula/HUF)
22 December 2010
Continuing Gupta Ji,Pl note that "advertising" is not defined in the Income tax Act,1961. Hence deductee's has to refer CBDT's clarifications regarding tax deduction. On a perusal the following observations emerges :-
1) Payment for advertisement in periodicals attracts section 194C.
2) Like wise payment to television media towards advertisement comes under the purview of 194C.
1) Payment for advertisement in periodicals attracts section 194C.
2) Like wise payment to television media towards advertisement comes under the purview of 194C.
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