Tds on event managemet company
This query is : Resolved
11 December 2014
Our company had to made the payment to Event Management Company and event management company disclose separately there cost part and event management fees in Invoice
Event Management company is say to deduct tds @2% but we are deducting 10% on cost and event fees also
Kindly tell whether we deduct 2% or 10% if there is 2% is there is any judgement kindly share that also
Thanks in advance
Event Management company is say to deduct tds @2% but we are deducting 10% on cost and event fees also
Kindly tell whether we deduct 2% or 10% if there is 2% is there is any judgement kindly share that also
Thanks in advance
11 December 2014
Explanation (b) to Section 194J provides that “fees for technical services” shall have the same meaning as in Explanation 2 to clause (vii) of subsection (1) of section 9, which provides “fees for technical services” means any consideration (including any lump sum consideration) for the rendering of any managerial, technical or consultancy services (including the provision of services of technical or other personnel) but does not include consideration for any construction, assembly, mining or like project undertaken by the recipient or consideration which would be income of the recipient chargeable under the head “Salaries”.
In view of the above you can deduct 10% on event management fees and 2% on cost.
In view of the above you can deduct 10% on event management fees and 2% on cost.
11 December 2014
COST IS REIMBURSEMENT AMOUNT IS THIS LIABLE TO TDS
11 December 2014
It may be seen that as per the CBDT, the tax is to be deducted at source, out of the gross amount of the bill, including reimbursements, because reimbursements cannot be deducted out of the bill amount for the purpose of tax deduction at source.
In order to overcome the aforesaid view of the CBDT, it is advisable that a separate bill is prepared in respect of reimbursement of expenses incurred by the person raising the bill for such expenses. In other words, the amount to be reimbursed should not be included in the same bill, which the person rendering certain services, raises in respect of fees for such services.
In order to overcome the aforesaid view of the CBDT, it is advisable that a separate bill is prepared in respect of reimbursement of expenses incurred by the person raising the bill for such expenses. In other words, the amount to be reimbursed should not be included in the same bill, which the person rendering certain services, raises in respect of fees for such services.
11 December 2014
if cost and event fees is in one invoice than at which rate we shall deduct tds
11 December 2014
Then you have to deduct at 10% on total invoice value.
12 December 2014
but in the invoice cost and fees is separately disclose than also ?
12 December 2014
no issue bill consider as single you have to deduct the tds @ 10%. no option
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