Tds on gift/commission on achieving sales target
This query is : Resolved
Venus Shah
(Querist)
09 April 2014
for achieving sales target company has paid commission in kind like foreign tour / car/ gold/ freeze / laptop / mobile etc., my question is whether these kind of expenses attract TDS under which section of Income Tax Act, 1961.
in books of accounts of company it is revenue or capital expenditure, and what treatment will be given in the books of account by the dealer.
in books of accounts of company it is revenue or capital expenditure, and what treatment will be given in the books of account by the dealer.
Rupesh Jain
(Expert)
09 April 2014
its revenue exp. and this parts of sales and if its make luck draw then TDS will charge otherwise no TDS to be deducted.
Venus Shah
(Querist)
09 April 2014
As per opinion given by other expert on 25/11/2013 is liabile to TDS as per section 194H of income Tax Act, 1961 and it is not sales becasue it is commission given to the dealer / Agent.
Please reply in this case promptly
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