Tds on gift given on achivement of sales
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 May 2014
Our company regularly comes out with the schemes for boosting sales. At the end of scheme period, there is a lucky draw whereby the first 5 winners are awarded with CAR/Bike/Jewelry/2 LCD TV's and rest 10 winners with Printers/MWO.
Now, when the Lucky Draw is under taken, we pay the amount of CAR/Bike to the supplier and dealer collects the same in his name and then the same is shown in our books.
Whether TDS is applicable on the gift given in kind on achievement of sales targets to dealers? If yes then under which section?
Now, when the Lucky Draw is under taken, we pay the amount of CAR/Bike to the supplier and dealer collects the same in his name and then the same is shown in our books.
Whether TDS is applicable on the gift given in kind on achievement of sales targets to dealers? If yes then under which section?
10 May 2014
the ans is yes under tds provisions u need to decut tax at source.
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 May 2014
Then under which Section 194B or 194H?
10 May 2014
it will be under sec 194B.
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