TDS ON ADVERTISEMENT

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 February 2010 WHAT IS THE RATE FOR TDS ON ADVERTISEMENT. ONE OF MY FRIEND HAS GIVEN ADVERTISEMENT IN A TELE SERIES MEDIA FOR A PARTICULAR PERIOD. INTIALLY HE GOT THE BILL OF RS,180000/= AND HE HAS MADE PART PAYMENT ALSO. AFTER LONG DISCUSSION THE BILL AMOUNT HAS REDUCED TO RS, 160000/=
I NEED CLARIFICATION THAT FOR WHAT AMOUNT THE TDS ON ADVT TO BE DEDUCTED? & WHAT IS THE PERCETAGE? WHETHER SURCHARGE + INCLUDED.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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25 February 2010 TDS rate for this 2 % under sec.194C

You are not mentioned your friend whether Individual or not

if the Individual whose books of accounts not required to be audited under section 44AB no need to deduct the TDS on payment made by them

Querist : Anonymous

Querist : Anonymous (Querist)

26 February 2010 My friend is working in a company? remitting TDS every month without fail.He has collected PAN no from the advt agent. so
now he has to deduct 2% on Rs.160,000/= ie rs.3,200/= only (net payable is Rs.160,000-3200/= less advance.

Pl clarify. I am not familiar in this subject..
Thanks for your advice

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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26 February 2010 Yes.You need to deduct 2 % on Rs.162000 Rs.3200 only surcharge no need to deduct only TDS Rs.3200/-

CA Sanjeev Kr Jain

CA Sanjeev Kr Jain (Expert)
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26 February 2010 you are correct, provide pan of deductee